Part 5Loan Relationships
Chapter 1Introduction
How profits and deficits from loan relationships are dealt with
295General rule: profits arising from loan relationships chargeable as income
(1)
The general rule for corporation tax purposes is that all profits arising to a company from its loan relationships are chargeable to tax as income in accordance with this Part.
(2)
But see section 465 (exclusion of distributions except in tax avoidance cases).