Related Commentary  Related HMRC Manuals

694(1)  Subsections (2) to (7) apply if–

(a)a company is a party to a derivative contract in an accounting period, and

(b)an exchange gain or exchange loss arises to the company for the accounting period from the contract.

694(2)  Subsection (3) applies if as a result of Part 4 of TIOPA 2010 (provision not at arm's length) the company's profits and losses are calculated for tax purposes as if it were not a party to the contract.

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