CFM6320 - Taxing Loan relationships: anti-avoidance: shares as debt
When S91A-G have effect
Finance (No2) Act 2005 introduced anti-avoidance provisions to
stop a range of financial product avoidance schemes which are
intended to enable companies convert what is economically interest
into either capital gains, dividends on UK shares or tax nothings.
FA96/S91A – G was introduced by F2A05/SCH7/PARA10, and
the rules apply to shares held by a company on or after
16 March 2005 (i.e. Budget Day).
CFM6376-8 describe the transitional rules
which apply where shares begin or cease to be subject to these
provisions.
Contents
| CFM6322 | Shares as debt: introduction |
| CFM6324 | Shares as debt: examples of avoidance schemes |
| CFM6326 | Shares as debt: outline of legislation |
| CFM6328 | Shares as debt: main sections of legislation |
| CFM6330 | Shares as debt: conditions for S91B |
| CFM6332 | Shares as debt: outstanding third party obligations |
| CFM6334 | Shares as debt: S91A debits and credits |
| CFM6336 | Shares as debt: meaning of outstanding third party obligations |
| CFM6338 | Shares as debt: meaning of interest-like investment |
| CFM6340 | Shares as debt: comparison with commercial rate of interest |
| CFM6342 | Shares as debt: repos and stock loans |
| CFM6344 | Shares as debt: S91B schemes |
| CFM6346 | Shares as debt: S91B debits and credits |
| CFM6348 | Shares as debt: meaning of non-qualifying shares |
| CFM6350 | Shares as debt: S91B shares, repos and stock loans |
| CFM6352 | Shares as debt: S91C condition |
| CFM6354 | Shares as debt: S91C condition: definition of income producing assets |
| CFM6356 | Shares as debt: S91C condition: background to income producing assets test |
| CFM6358 | Shares as debt: S91C condition: groups and income producing assets |
| CFM6360 | Shares as debt: S91C condition: application of S91C |
| CFM6362 | Shares as debt: S91D condition |
| CFM6364 | Shares as debt: S91D condition: meaning of excepted shares |
| CFM6366 | Shares as debt: S91D condition: meaning of qualifying publicly issued shares |
| CFM6368 | Shares as debt: S91D condition: mirroring a public issue of shares |
| CFM6370 | Shares as debt: S91D condition: unallowable purposes test |
| CFM6372 | Shares as debt: S91E condition |
| CFM6374 | Shares as debt: S91E condition: meaning of associated transaction |
| CFM6376 | Shares as debt: beginning or ceasing to be within S91A or S91B |
| CFM6378 | Shares as debt: shares changing ownership in a group |
| CFM6380 | Shares as debt: 16 March 2005 transitionals |
| CFM6382 | Shares as debt: schemes unwound by 31 December 2005 |
| CFM6384 | Shares as debt: meaning of commercial rate of interest |
| CFM6386 | Shares as debt: meaning of simple commercial rate |
| CFM6388 | Shares as debt: interaction with arbitrage rules and S91G capital gains |
