SCHEDULES

SCHEDULE 9 U.K. Loan relationships: special computational provisions

[F1 Power to make further provision by regulations U.K.

Textual Amendments

F1 Sch. 9 paras 19A, 19B and cross-heading inserted (with effect in accordance with s. 52(3) of the amending Act) by Finance Act 2004 (c. 12), Sch. 10 para. 36

19B (1) The Treasury may by regulations make provision for cases where there is a change of accounting policy in drawing up a company’s accounts from one period of account to the next affecting the amounts to be brought into account for accounting purposes in respect of the company’s loan relationships. U.K.

(2) The regulations may provide for any debits or credits that would otherwise be brought into account for the purposes of this Chapter—

(a) not to be brought into account,

(b) to be brought into account only to a prescribed extent, or

(c) to be brought into account over a prescribed period or in prescribed circumstances.

(3) Regulations under this paragraph may, in particular, modify the operation of paragraph 19A.

(4) The power to make regulations under this paragraph includes power—

(a) to make different provision for different cases, and

(b) to make such consequential, supplementary, incidental or transitional provision, or savings, as appear to the Treasury to be necessary or expedient.]