Commentary

D9.412 Transfers without accrued interest

Corporate tax
Corporate tax | Commentary

D9.412 Transfers without accrued interest

Corporate tax | Commentary

D9.412 Transfers without accrued interest

The transferor is deemed to make an accrued income payment to the transferee in the interest period in which the settlement day falls1.

Amount of the deemed payment

Where under Stock Exchange rules (see D9.411) the transferor accounts separately to the transferee for accrued interest, the deemed payment is the amount of gross interest which the transferor accounts for2.

If the settlement day is itself an interest payment day, the deemed payment is nil3.

In any other case (where the accrued interest is an integral part of the transfer price or where there is a deemed transfer) the deemed

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