Sch 1 para 5
(1) A company (“A”) is not under the control of another company (“B”) for the purposes of paragraph 2(1) if— (a) B is a loan creditor of A, (b) there is no other connection between A and B, and (c) either— (i) B is not a close company, or (ii) B's relationship to A as a loan creditor arose in the ordinary course of a business which B carries on. (2) Sub-paragraph (3) applies if— (a) two companies (“ A ” and “ B ”) are under the control of the same person who is a loan creditor of each of them, (b) there is no other connection between A and B, and (c) either— (i) the loan creditor is a company which is not a close company, or (ii) the loan creditor's relationship to each of A and B as a loan creditor arose in the ordinary course of a business which the loan creditor carries on. (3) In determining under paragraph 2(1) if A and B are connected with one another, rights which the loan creditor has as a loan creditor of A, or as a loan creditor of B, are ignored. (4) In sub-paragraph (2)(a) “ control ” has the same meaning as in paragraph 2(1). (5) In this paragraph— (a) “ close company ” is to be read in accordance with Chapter 2 of Part 10 of CTA 2010 (see, in particular, section 439 of that Act), (b) “ connection ” includes a connection in the past as well as a connection in the present and references to a connection between two companies include any dealings between them, and (c) references to a loan creditor of a company are to be read in accordance with section 453 of CTA 2010.