Editorial Information
X1Sch. 8: the earliest available versions of Sch. 8 and its contents are those having effect on 16.11.1992
Textual Amendments
F1Sch. 8 substituted (1.3.1997) by S.I. 1997/220, reg. 2(2), Sch. 1
Textual Amendments
F2Sch. 8 substituted (1.3.1997) by S.I. 1997/220, reg. 2(2), Sch. 1
52The following paragraphs apply for the purposes of this Schedule and its interpretation.
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52AReferences to “derivatives” include commodity-based contracts that give either contracting party the right to settle in cash or in some other financial instrument, except when such contracts–
(a)were entered into for the purpose of, and continue to meet, the company’s expected purchase, sale or usage requirements,
(b)were designated for such purpose at their inception, and
(c)are expected to be settled by delivery of the commodity.
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52B(1)The expressions listed in sub-paragraph (2) have the same meaning as they have in Council Directive 78/660/EEC on the annual accounts of certain types of companies, as amended. F3
(2)Those expressions are “available for sale financial asset”, “business combination”, “commodity-based contracts”, “derivative”, “equity instrument”, “exchange difference”, “fair value hedge accounting system”, “financial fixed asset”, “financial instrument”, “foreign entity”, “hedge accounting”, “hedge accounting system”, “hedged items”, “hedging instrument”, “held for trading purposes”, “held to maturity”, “monetary item”, “receivables”, “reliable market” and “trading portfolio”
Textual Amendments
F3O.J. L222 of 14.8.1978, page 11, as amended in particular by Directive 2001/65/EEC (O.J. L238 of 27.12.2001, page 28).
F453 References to the historical cost accounting rules shall be read in accordance with paragraph 29.
Textual Amendments
F4Sch. 8 substituted (1.3.1997) by S.I. 1997/220, reg. 2(2), Sch. 1
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53A“Investment property” means land held to earn rent or for capital appreciation.
F554 “Listed investment” means an investment as respects which there has been granted a listing on a recognised investment exchange other than an overseas investment exchange within the meaning of the Financial Services Act 1986 or on any stock exchange of repute outside Great Britain.
Textual Amendments
F5Sch. 8 substituted (1.3.1997) by S.I. 1997/220, reg. 2(2), Sch. 1
F655A loan is treated as falling due for repayment, and an instalment of a loan is treated as falling due for payment, on the earliest date on which the lender could require repayment or (as the case may be) payment, if he exercised all options and rights available to him.
Textual Amendments
F6Sch. 8 substituted (1.3.1997) by S.I. 1997/220, reg. 2(2), Sch. 1
F756Amounts which in the particular context of any provision of this Schedule are not material may be disregarded for the purposes of that provision.
Textual Amendments
F7Sch. 8 substituted (1.3.1997) by S.I. 1997/220, reg. 2(2), Sch. 1
F857(1)References to provisions for depreciation or diminution in value of assets are to any amount written off by way of providing for depreciation or diminution in value of assets.
(2)Any reference in the profit and loss account formats set out in Part I of this Schedule to the depreciation of, or amounts written off, assets of any description is to any provision for depreciation or diminution in value of assets of that description.
Textual Amendments
F8Sch. 8 substituted (1.3.1997) by S.I. 1997/220, reg. 2(2), Sch. 1
F958References to provisions for liabilities or charges are to any amount retained as reasonably necessary for the purpose of providing for any liability or loss which is either likely to be incurred, or certain to be incurred but uncertain as to amount or as to the date on which it will arise.
Textual Amendments
F9Sch. 8 substituted (1.3.1997) by S.I. 1997/220, reg. 2(2), Sch. 1
F1059(1) “Social security costs” means any contributions by the company to any state social security or pension scheme, fund or arrangement.
(2)“Pension costs” includes any costs incurred by the company in respect of any pension scheme established for the purpose of providing pensions for persons currently or formerly employed by the company, any sums set aside for the future payment of pensions directly by the company to current or former employees and any pensions paid directly to such persons without having first been set aside.
(3)Any amount stated in respect of the item “social security costs” or in respect of the item “wages and salaries” in the company’s profit and loss account shall be determined by reference to payments made or costs incurred in respect of all persons employed by the company during the financial year under contracts of service.
Textual Amendments
F10Sch. 8 substituted (1.3.1997) by S.I. 1997/220, reg. 2(2), Sch. 1