Commentary

D9.421 Relief for accrued income losses

Corporate tax
Corporate tax | Commentary

D9.421 Relief for accrued income losses

Corporate tax | Commentary

D9.421 Relief for accrued income losses

Where a transferor or a transferee receives interest on securities at the end of an interest period, he is entitled to exemption from tax on the interest to the extent that it does not exceed the amount of any AIL incurred in respect of transfers of those securities1.

Where interest is received by a partnership, liability may arise in more than one tax year; in such a case exemption is only given for the tax year in which the interest period ends2.

Where there is a period of more than 12 months between interest payment

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