Related Commentary  

7(1)  For the purposes of section 598(1)(a) of CTA 2009 there is prescribed in relation to a derivative contract whose underlying subject matter consists wholly of currency–

(a)all credits and debits representing the whole or part of a company’s fair value profit or loss in an accounting period if–

(i)there is a hedging relationship between the contract or part of the contract and a forecast transaction or a firm commitment (“the hedged item”) of the company; and

(ii)the hedged item is not one for which fair value profits or losses are brought into account for the purposes of corporation tax;

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.