Valid from 01/04/2009

Part 6 U.K. Relationships treated as loan relationships etc

Chapter 2 U.K. Relevant non-lending relationships

Application of Part 5 to relevant non-lending relationships U.K.

482 Miscellaneous rules about amounts to be brought into account because of this Chapter U.K.

(1) Any credits or debits which—

(a) relate to interest payable under the Tax Acts, and

(b) fall to be brought into account because of this Chapter,

are treated for the purposes of Part 5 as non-trading credits or debits.

(2) The credits to be brought into account for the purposes of that Part in respect of a discount arising from a money debt under a relevant non-lending relationship are to be determined using an amortised cost basis of accounting.