Paragraph 50

United Kingdom

(1)

Income to which this paragraph applies is relevant shipping income only to the extent that it would apart from this Schedule fall to be taken into account as trading income from a trade consisting of the company’s tonnage tax activities.

(2)

This paragraph applies to—

(a)

anything giving rise to a credit that would fall to be brought into account for the purposes of F1Part 5 of the Corporation Tax Act 2009 (loan relationships); F2and

F3(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)

any credit falling to be brought into account F4in accordance with Part 7 of the Corporation Tax Act 2009 (derivative contracts).

Annotations

Textual amendments

F1: Words in Sch. 22 para. 50(2)(a) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 470(2)(a) (with Sch. 2 Pts. 1, 2)
F2: Word in Sch. 22 para. 50(2)(a) inserted (24.7.2002 with effect as mentioned in s. 79(3) of the amending Act) by 2002 c. 23, s. 79, Sch. 23 Pt. 2 para. 23(2)
F3: Sch. 22 para. 50(2)(b) repealed (24.7.2002 with effect as mentioned in s. 79(3) of the amending Act) by 2002 c. 23, s. 79, Sch. 40 Pt. 3(10) Note
F4: Words in Sch. 22 para. 50(2)(c) substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 470(2)(b) (with Sch. 2 Pts. 1, 2)