Related Commentary  Related HMRC Manuals

139(1)  In this Part–

“closing”, in relation to a period of account, means the position at the end of the period of account,

“derivative contract” has the same meaning as in Part 7 of CTA 2009,

“fair value”

(a)in relation to money, means its amount, and

(b)in relation to other assets, means the amount which an independent person selling the assets would get,

“HMRC Commissioners” means the Commissioners for Her Majesty's Revenue and Customs,

“insurance business transfer scheme” means–

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