Section 211 | Loan relationships and derivative contracts

(1)The profits of a property business are calculated without regard to items giving rise to—

(a)credits or debits within Part 5 (loan relationships), or

(b)credits or debits within Part 7 (derivative contracts).

(2)This section does not affect the width of the provision made by—

(a)section 464 (priority of Part 5 for corporation tax purposes), or

(b)section 699 (priority of Part 7 for corporation tax purposes).