Section 287: Restriction on credits to be brought into account
979.This section ensures that exchange gains in respect of loan relationships are not treated as part of the ring fence profits where the exchange gains do not arise from money borrowed to finance ring fence activities. It is based on section 494(2), (2ZA) and (2A) of ICTA.
980.The section operates in a similar way to section 286. Where a credit is excluded from the computation of ring fence profits it is brought into account by subsection (5).