Related Commentary  Related HMRC Manuals

387(1)  This section applies for the purposes of section 385.

387(2)  An amount is a “relevant derivative contract credit” if–

(a)it is a credit that is (or apart from this Part would be) brought into account for the purposes of corporation tax in respect of a derivative contract under–

(i)Part 3 of CTA 2009 as a result of section 573 of that Act (derivative contracts for purposes of trade), or

(ii)Part 5 of that Act as a result of section 574 of that Act (other derivative contracts),

(b)is not an excluded credit, and

(c)the condition in subsection (4) is met.

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