Section 49 — Corporation Tax Act 2009: Items treated as receipts and expenses

Items treated as receipts and expenses 49 The rules for calculating the profits of a trade need to be read with—

a the provisions of CAA 2001 which treat allowances as expenses of a trade, b the provisions of CAA 2001 which treat charges as receipts of a trade, c section 297 (credits and debits in respect of a loan relationship to which a company is a party for the purposes of a trade it carries on treated as receipts and expenses of the trade),

d section 573 (credits and debits in respect of a derivative contract to which a company is a party for the purposes of a trade it carries on treated as receipts and expenses of the trade),

e section 747 (credits and debits in respect of an intangible fixed asset held by a company for the purposes of a trade it carries on treated as receipts and expenses of the trade),

and f section 749 (credits and debits in respect of an intangible fixed asset held by a company for the purposes of a section 39(4) concern which it carries on treated as receipts and expenses of the concern).