Valid from 01/04/2009

Part 5 U.K. Loan Relationships

Chapter 6 U.K. Connected companies relationships: impairment losses and releases of debts

Exclusion of credits for connected companies debts on release or reversal of impairments U.K.

360 Exclusion of credits on reversal of impairments of connected companies debts U.K.

(1) If an impairment loss is prevented from being brought into account by section 354, no credit in respect of any reversal of the impairment may be brought into account for the purposes of this Part.

(2) Nothing in this section affects the credits to be brought into account for the purposes of this Part in respect of exchange gains or losses arising from a debt.