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Changes over time for: Paragraph 8
Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 01/10/2021.
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2020, Paragraph 8.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
8U.K.In regulation 6A of the Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) Regulations 2004—
(a)in paragraph (5)(b), after “fair value” insert “ (but see paragraph (6)) ”, and
(b)at the end insert—
“(6)For the purposes of the definition of “the first relevant period” an accounting period of a company is to be ignored if—
(a)the accounting period begins solely as a result of a disposal of an asset by the company, and
(b)any gain accruing to the company on the disposal would be chargeable to corporation tax as a result of section 2B(4) of the Taxation of Chargeable Gains Act 1992.”
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