292Overview of PartU.K.
(1)This Part sets out how profits and deficits arising to a company from its loan relationships are brought into account for corporation tax purposes.
(2)For the meaning of “loan relationship” see section 302 and Part 6 (relationships treated as loan relationships etc).
(3)For how such profits and deficits are calculated and brought into account, see—
(a)section 296 (profits and deficits to be calculated using credits and debits given by this Part),
(b)section 297 (trading credits and debits to be brought into account under Part 3),
(c)section 299 (charge to tax on non-trading profits),
(d)section 300 (method of bringing non-trading deficits into account),
(e)section 301 (calculation of non-trading profits and deficits from loan relationships: non-trading credits and debits), and
(f)Chapter 16 (non-trading deficits).
(4)For the priority of this Part for corporation tax purposes, see Chapter 17.
(5)This Part also contains the following Chapters (which mainly relate to the amounts to be brought into account for the purposes of this Part)—
(a)Chapter 3 (the credits and debits to be brought into account: general),
(b)Chapter 4 (continuity of treatment on transfers within groups or on reorganisations),
(c)Chapter 5 (connected companies relationships: introduction and general),
(d)Chapter 6 (connected companies relationships: impairment losses and releases of debts),
(e)Chapter 7 (group relief claims involving impaired or released consortium debts),
(f)Chapter 8 (connected parties relationships: late interest),
(g)Chapter 9 (partnerships involving companies),
(h)Chapter 10 (insurance companies),
(i)Chapter 11 (other special kinds of company),
(j)Chapter 12 (special rules for particular kinds of securities),
(k)Chapter 13 (European cross-border transfers of business),
(l)Chapter 14 (European cross-border mergers),
(m)Chapter 15 (tax avoidance),
(n)Chapter 18 (general and supplementary provisions).
(6)This Part needs to be read with Part 19 (general exemptions).