[456 Creditor relationships of companies determined on basis of fair value accounting]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[Fair value accounting]

[456  Creditor relationships of companies determined on basis of fair value accounting]

[(1)     A company may elect for all of its creditor relationships which are dealt with on the basis of fair value accounting (“fair-value creditor relationships”) to be subject to the provision made by this section for all of its accounting periods.

(2)     For the purpose of calculating under this Part—

(a)     tax-interest expense amounts of the company, and

(b)     tax-interest income amounts of the company,

the relevant loan relationship debits and relevant loan relationship credits in respect of the company's fair-value creditor relationships are instead to be determined for the accounting periods on an amortised cost basis of accounting.

(3)

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