Part 4

Property income
Chapter 3

Profits of property businesses: basic rules

Calculation of profits

Loan relationships and derivative contracts
211
1
The profits of a property business are calculated without regard to items giving rise to—
a
credits or debits within Part 5 (loan relationships), or
b
credits or debits within Part 7 (derivative contracts).
2
This section does not affect the width of the provision made by—
a
section 464 (priority of Part 5 for corporation tax purposes), or
b
section 699 (priority of Part 7 for corporation tax purposes).
S. 211(1) restricted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 599(3), 1184(1) (with Sch. 2)