Paragraph 13 I1

In section 19 (chargeable profits) for subsection (2A) substitute—

“(2A)

But the company's “chargeable profits” do not include—

(a)

profits of a trade of dealing in or developing UK land (see section 5B),

(b)

profits of a UK property business,

(c)

profits consisting of other UK property income, or

(d)

profits arising from loan relationships or derivative contracts that the company is a party to for the purposes of its UK property business or for the purposes of enabling it to generate other UK property income.”