Section 411 | [ “Relevant Expense Amount” And “Relevant Income Amount”] | Taxation International And Other Provisions Act 2010 C8

[411 “Relevant expense amount” and “relevant income amount”]

Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[411 “Relevant expense amount” and “relevant income amount”]

[(1) In this Chapter “relevant expense amount” means (subject to subsection (3)) an amount in respect of any of the following—

(a) interest payable under a loan relationship;

(b) expenses ancillary to a loan relationship [or related transaction];

(i) exchange losses, and

(ii) impairment losses;

(d) dividends payable in respect of preference shares accounted for as a financial liability;

(e) losses arising from a relevant derivative contract or a related transaction, other than—

(i) exchanges losses,

(ii) impairment losses, and

[(iii) losses in respect of risks arising in the ordinary course of a trade (other than risks arising in the ordinary course of a financial trade) where the derivative contract was entered into wholly for reasons unrelated to the capital structure of the worldwide group (or any member of the worldwide group);]

(f) expenses ancillary to a relevant derivative