404. Group mismatch schemes in general.

No scheme loss or profit made by a company1 in any accounting period2 in relation to a group mismatch scheme3 may be brought into account as a debit or credit for the purposes of the provisions relating to loan relationships4 or to derivative contracts5. However, any amount which would otherwise6 be brought into account for the purposes of either of those provisions as respects any matter is treated7 as if it were so brought into account and, accordingly, may not be brought into account for any other corporation tax purposes as respects that matter8.

A scheme is a 'group mismatch