Basis of accounting for contracts falling within paragraph 6, 7 or 8U.K.
21(1)This paragraph applies in relation to a contract which is a derivative contract for the purposes of this Schedule by virtue of—
(a)paragraph (contracts producing a guaranteed return),
(b)paragraph (contracts where guaranteed amount payable on maturity), or
(c)paragraph (contracts to provide insurance benefits).
(2)Where this paragraph applies in relation to a derivative contract, the accounting method to be used as respects the derivative contract for an accounting period shall be an authorised mark to market basis of accounting.