# Taxation (International and Other Provisions) Act 2010, Section 386: Relevant loan relationship credits


(1) This section applies for the purposes of section 385.
(2) An amount is a “relevant loan relationship credit” if—
(a) it is a credit that is (or apart from this Part would be) brought into account for the purposes of corporation tax in respect of a loan relationship under—
(i) Part 3 of CTA 2009 as a result of section 297 of that Act (loan relationships for purposes of trade), or
(ii) Part 5 of that Act (other loan relationships), and
(b) it is not an excluded credit.
(3) A credit is “excluded” for the purposes of subsection (2)(b) if—
(a) it is in respect of an exchange gain (within the meaning of Parts 5 and 6 of CTA 2009), or
(b) it is in respect of the reversal of an impairment loss.

---
Source: https://www.legislation.gov.uk/ukpga/2010/8/section/386 (the official version)
Page: https://openlegislation.uk/taxation-international-and-other-provisions-act-2010/section-386
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.