Section 419 The relevant accounting period, etc


Taxes Consolidation Act 1997 section 419.

(1) In this Chapter, “the relevant accounting period” means-

(a) in a case within section 412(1), the accounting period current at the time in question, and

(b) in a case within section 412(2), the accounting period in relation to which the share in the consortium is to be determined.

(2) For the purposes of sections 413 to 418, a loan to a company shall be treated as a security whether or not it is a secured loan and, if it is a secured loan, regardless of the nature of the security.