SCHEDULES

SCHEDULE 7U.K.Loan relationships and derivative contracts

PART 6 U.K.Commencement and transitional provisions

Transitional provision relating to abolition of “fairly represents” testU.K.

126U.K.If in an accounting period beginning before 1 January 2016, subsection (3) of section 307 of CTA 2009 prevents a company from bringing into account for the purposes of Part 5 of that Act a credit or debit that it would otherwise bring into account, no debit or credit is to be brought into account for those purposes under section 307 as amended by paragraph 4 in an accounting period beginning on or after 1 January 2016 to the extent that the debit or credit represents a reversal (in whole or part) of the debit or credit previously excluded.