[371IF Determining the profits of a qualifying loan relationship]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[371IF  Determining the profits of a qualifying loan relationship]

[Take the following steps to determine the profits of a qualifying loan relationship for the purposes of this Chapter.

Step 1

Determine the credits from the qualifying loan relationship which are brought into account in determining the CFC's non-trading finance profits.

The result is “the step 1 credits”.

Step 2

Determine the credits and debits which are brought into account in determining the CFC's non-trading finance profits so far as they—

(a)     are from any derivative contract or other arrangement (other than a qualifying loan relationship) entered into by the CFC as a hedge of risk

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