CTA09/S595(3) (before amendment by F(2)A15)

This page of guidance only applies for company periods of account beginning before 1 January 2016.

Amounts fairly representing profits or losses

Under CTA09/S307, as it stood before amendment by F(2)A15, the amounts to be brought into account as credits and debits for tax purposes were those which ‘when taken together, fairly represent for the accounting period in question’:

all the profits or losses of the company which arise from its derivative contracts and related transactions; and

all expenses incurred for the purposes of those contracts and transactions.

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