½Û×ÓÊÓƵ

In certain cases where interest is not paid within 12 months of the end of the accounting period in which it accrues, it is not treated as a debit for that accounting period but for the accounting period in which it is paid. This is the case if¹:

1. Ìý

   •ÌýÌýÌýÌý credits representing the full amount of the interest are not brought into account in respect of the corresponding creditor relationship for any accounting period and

2. Ìý

   •ÌýÌýÌýÌý either:

3. 1. Ìý

      –ÌýÌýÌýÌý for debtor loan relationships entered into before 3 December 2014 in respect of interest that accrues before 1 January 2016² there is a connection between the debtor company and the creditor

   2. Ìý

      –ÌýÌýÌýÌý the close company requirements are met

   3. Ìý

      –ÌýÌýÌýÌý for debtor loan relationships entered into before 3 December 2014 in respect of interest that accrues before 1 January 2016³ the creditor is a company and one of the parties has a major interest (see below) in the other or

   4. Ìý

      –ÌýÌýÌýÌý the creditor is a retirement benefit scheme