Corporation Tax Act 2009 section 299

Charge to tax on non-trading profits

Section 299 establishes that a company's non-trading profits from loan relationships are subject to the corporation tax charge on income.

  • Non-trading profits from loan relationships are chargeable to corporation tax as income
  • This applies to profits that are not part of the company's trade
  • The calculation method for these non-trading profits is set out separately in section 301
  • The charge covers all companies that hold loan relationships outside their trading activities

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