Part 2 U.K. Trading income

Chapter 3 U.K. Trade profits: basic rules

[F1 Rules relating to calculation of profits] U.K.

Textual Amendments

F1 S. 27 cross-heading inserted (6.4.2024 for the tax year 2024-25 and subsequent tax years) by Finance Act 2024 (c. 3), Sch. 10 paras. 12, 47 (with Sch. 10 paras. 48-50)

29 Interest U.K.

For the purpose of calculating the profits of a trade, interest is an item of a revenue nature, whatever the nature of the loan.