Section 211 Loan relationships and derivative contracts

C1(1)

The profits of a property business are calculated without regard to items giving rise to—

(a)

credits or debits within Part 5 (loan relationships), or

(b)

credits or debits within Part 7 (derivative contracts).

(2)

This section does not affect the width of the provision made by—

(a)

section 464 (priority of Part 5 for corporation tax purposes), or

(b)

section 699 (priority of Part 7 for corporation tax purposes).

Annotations

C1: S. 211(1) restricted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 599(3), 1184(1) (with Sch. 2)