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SCHEDULES

SCHEDULE 12Trading income provided through third parties: loans etc outstanding on 5 April 2019

Repayments in currencies other than the loan currency

6(1)This paragraph applies in relation to a loan where—

(a)payments in money are made by way of repayment of principal under the loan, and

(b)some or all of the payments are made in a currency other than the loan currency.

(2)But this paragraph does not apply if paragraph 8 applies in relation to the loan.

(3)For the purposes of calculating the repayment amount in relation to the loan, the amount of each of the payments referred to in sub-paragraph (1)(b) is an amount equal to its value in the loan currency on the date it is made.