690 Derivative contracts for unallowable purposes
Corporation Tax Act 2009 (2009 c 4) | Legislation

Unallowable purposes

690  Derivative contracts for unallowable purposes

(1)     This section applies if in any accounting period a derivative contract of a company has an unallowable purpose.

(2)     The company may not bring into account for that period for the purposes of this Part so much of any exchange credit in respect of that contract as is referable to the unallowable purpose on a just and reasonable apportionment.

(3)     The company may not bring into account for that period

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