Matching under primary legislation

Matching is mandatory for accounting periods starting on or after 1 October 2002.

CTA09/S328(1) puts it beyond doubt that exchange gains and losses are within the loan relationship regime. Subsection (3), however, excludes the immediate bringing into account of exchange gains and losses in certain cases. It will apply where:

All or part of an exchange gain or loss on a liability insofar as it has been taken to reserves and matched in accordance with GAAP with an exchange loss or gain on an asset.

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.