Section 639 — Corporation Tax Act 2009: Overview of Chapter

Overview of Chapter 639 1 This Chapter makes provision about cases in which—

a credits and debits are not to be brought into account in accordance with section 574 (non-trading credits and debits to be brought into account under Part 5: loan relationships) (see sections 640 and 643 to 650), but b instead profits arising to a company from its derivative contracts are chargeable to corporation tax as chargeable gains (see sections 641 to 650).

2 This Chapter also makes provision about cases in which—

a credits and debits are not to be brought into account in accordance with section 573 (trading credits and debits to be brought into account under Part 3: trading income) or section 574 (non-trading credits and debits to be brought into account under Part 5: loan relationships) (see section 651), but b instead provisions relating to corporation tax on chargeable gains apply in relation to derivative contracts (see sections 652 to 658).