Part 9 Relationships Treated as Loan Relationships
Corporation Tax Act 2009 (2009 c 4) | Legislation

Part 9 Relationships Treated as Loan Relationships

Relevant non-lending relationships: discounts accruing and profits arising before 16 March 2005

72

(1)     None of the following is to be brought into account for the purposes of Part 5 as a result of any of the provisions specified in sub-paragraph (2) or any reference to that provision in any other provision—

(a)     credits in respect of a discount arising from a money debt, so far as the discount accrued before 16 March 2005,

(b)     credits in respect of profits arising as mentioned in 481(3)(c) or (5)(c) where the related transaction took place before that date,

(c)     debits in respect of any impairment arising in respect of a discount arising from a money debt, so far as the discount accrued before that date,

(d)     credits in respect of any reversal of any such impairment, so far as the discount accrued before that date.

(2)     The provisions are—

(a)     section 480 (relevant non-lending relationships involving discounts),

(b)     section 481(3)(c) and (5) to (8) (application of Part 5 to relevant non- lending loan relationships), and

(c)     section 482(2) (miscellaneous rules about amounts to be brought into account because of Chapter 2 of Part

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