[494 Other interpretation]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[494  Other interpretation]

[(1)     In this Part—

“the Commissioners” means the Commissioners for Her Majesty's Revenue and Customs;

“fair value accounting” means a basis of accounting under which—

(a)     assets and liabilities are measured in the company's balance sheet at their fair value, and

(b)     changes in the fair value of assets and liabilities are recognised as items of profit or loss;

“fair value” has the meaning it has for accounting purposes;

[“finance lease”, in relation to a company or a worldwide group, a lease which—

(a)     in accordance with generally accepted accounting practice, falls (or would fall) to be treated, in the accounts of the company or the financial statements of

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