Corporation Tax Act 2009 section 293

Construction of references to profits or losses from loan relationships

Section 293 clarifies what is meant by "profits or losses from loan relationships" throughout Part 5 of the Corporation Tax Act 2009.

• References to profits or losses from loan relationships automatically include profits or losses arising from related transactions (as defined in section 304)
• This broad definition avoids the need to repeatedly refer to "loan relationships and related transactions" throughout the legislation
• Profits or losses of a capital nature are also included within the meaning of profits or losses from loan relationships
• The inclusion of capital profits or losses applies unless the context of a specific provision indicates otherwise