SCHEDULES

SCHEDULE 12Trading income provided through third parties: loans etc outstanding on 5 April 2019

Repayments in currencies other than the loan currency

6

(1)

This paragraph applies in relation to a loan where—

(a)

payments in money are made by way of repayment of principal under the loan, and

(b)

some or all of the payments are made in a currency other than the loan currency.

(2)

But this paragraph does not apply if paragraph 8 applies in relation to the loan.

(3)

For the purposes of calculating the repayment amount in relation to the loan, the amount of each of the payments referred to in sub-paragraph (1)(b) is an amount equal to its value in the loan currency on the date it is made.