Related Commentary  Related HMRC Manuals

599B(1)  In determining the credits and debits which a company is to bring into account for the period referred to in section 599A(1) for the purposes of this Part in respect of the derivative contract mentioned in section 599A(2), the assumption in subsection (2) is to be made.

599B(2)  The assumption is that an amount in respect of the whole of the contract in question is recognised in determining the company's profit or loss for the period.

599B(2A)  But no debits are, as a result of this section, to be brought into account by the company in respect of the derivative contract.

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