Section 321A — Corporation Tax Act 2009: Restriction on debits resulting from release of loans to participators etc

Restriction on debits resulting from release of loans to participators etc 321A 1 This section applies if—

a a loan gives rise to a charge to tax under section 455 of CTA 2010 (including a charge by virtue of section 459 or 460 of that Act),

and b the whole or a part of the debt in respect of the loan is released or written off.

2 No debit is to be brought into account for the purposes of this Part in respect of the release or writing off.