Commentary on Sections Overview Overview Section 301: Calculation of non-trading profits and deficits from loan relationships: non-trading credits and debits
1047.This section explains the use of the terms “non-trading credits” and “non-trading debits” in respect of loan relationships which are not used for the purposes of a trade and provides the rules for set-offs between the two. It is based on section 82(1) and (3) to (6) of FA 1996.