Matching under SSAP 20

The tax treatment of foreign exchange transactions has undergone a number of changes in recent years and CFM62220 contains an overview of these.

Guidance on the current legislation is as follows:

For companies continuing to account under SSAP 20 using net investment hedging, CTA09/S328(3) provides for exchange gains or losses on loan relationships, which are taken to reserves, to be disregarded – see CFM62230. There is similar provision for derivative contracts at CTA09/S606(3).

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