[698A Debits arising from derecognition of derivative contracts]
Corporation Tax Act 2009 (2009 c 4) | Legislation

[Derecognition]

[698A  Debits arising from derecognition of derivative contracts]

[(1)     This section applies where—

(a)     a company is at any time a party to tax avoidance arrangements,

(b)     as a result of those arrangements, a derivative contract to which the company is party, or any part of such a contract, is (in accordance with generally accepted accounting practice) derecognised by the company, and

(c)     the company continues to be a party to the derivative contract immediately after the transaction or

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