Finance Act 2000

50 (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 Chapter II of Part IV of the [1996 c. 8.] Finance Act 1996 (loan relationships);

(b) any exchange gain under Chapter II of Part II of the [1993 c. 34.] Finance Act 1993 (exchange gains and losses); and

(c) any profit on a qualifying contract under Chapter II of Part IV of the [1994 c. 9.] Finance Act 1994 (interest rate and currency contracts).