[CFM52033] Derivative contracts: the matters and computational rules: tax-adjusted carrying value
This guidance applies to company periods of account beginning on or after 1 January 2016.
For company periods of account beginning on or after 1 January 2016, s614 calls for an adjustment to be made where the tax-adjusted carrying value of a derivative contract at the end of a company period of account or accounting period differs from that at the beginning of the next. Tax-adjusted carrying value is defined in CTA09/S702.
If for any reason a change occurs during an accounting period, it is to be assumed, for the purposes of computing the tax-adjusted carrying value, that an accounting period ended at the date of the change – S702(6),