[CFM76100] Other tax rules on corporate finance: Change of accounting basis: amounts excluded
SI 2004/3271: regulation 3C
Certain debits and credits arising on a change of accounting policy are not brought into account under the Change of Accounting Practice Regulations, for any period. These are set out in regulation 3C and are in general amounts relating to derivative contracts that are embedded, or are hedging instruments and where there is an interaction with the Disregard Regulations (see CFM57000). Regulation 3C(2) lists certain cases where the transitional adjustments are excluded, detailed below.