Section 478 Relevant non-lending relationships: introduction

(1)

This Chapter provides for Part 5 to apply to relevant non-lending relationships in relation to some matters as it applies to loan relationships (see section 481).

(2)

For the meaning of “relevant non-lending relationship”, see—

(a)

section 479 (relevant non-lending relationships not involving discounts), and

(b)

section 480 (relevant non-lending relationships involving discounts).

(3)

For provisions extending the meaning of “money debt” and “interest” in this Chapter, see—

(a)

section 483 (exchange gains and losses: amounts treated as money debts), and

(b)

section 484 (provision not at arm's length: meaning of “interest” and “money debt”).

(4)

For exclusions from this Chapter, see—

(a)

section 485 (exclusion of debts where profits or losses within Part 7 or 8), and

(b)

section 486 (exclusion of exchange gains and losses in respect of tax debts etc).

Notes on Part 6

Modifications

C1: Pt. 6 modified (for the tax year 2026-27 and subsequent tax years (but in relation to investment management services whenever performed)) by 2005 c. 5, Sch. A1 para. 35(7) (as inserted by Finance Act 2026 (c. 11), s. 58(6), Sch. 11 para. 1)