497. Building society dividends and interest; corporation tax treatment.

For corporation tax purposes1, liability to pay building society interest2 or building society dividends3 is treated for the purposes of Part 5 of the Corporation Tax Act 20094 as a liability arising under a loan relationship (so far as it would not otherwise be such a liability)5. If building society interest or building society dividends are payable to a company, they are treated as so payable as the result of a right arising under a loan relationship of the company (so far as they would not otherwise be so payable