SCHEDULES

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

Repayments in currencies other than the quasi-loan currency

12

1

This paragraph applies in relation to the quasi-loan if—

a

payments in money are made by way of repayment of the initial debt amount, and

b

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

2

But this paragraph does not apply if paragraph 14 applies in relation to the quasi-loan.

3

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