Related Commentary  Related HMRC Manuals

483(1)  This section applies for the purposes of this Chapter so far as relating to exchange gains and losses.

483(2)  Any currency held by a company is treated as a money debt owed to the company.

483(3)  A provision made by a company for the purposes of its statutory accounts in respect of a liability to which the company may become subject is treated as a money debt owed by the company if it meets conditions A and B.

483(4)  Condition A is that if the company became subject to the liability, the duty to settle it would be owed for the purposes of–

(a)a trade,

(b)a UK property business, or

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