SCHEDULES
C1SCHEDULE 24Corporation tax: currency
The Finance Act 1993
F11Introductory
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F12The basic rule: sterling to be used
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F13Use of currency other than sterling: accounts as a whole etc in foreign currency
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F14Use of currency other than sterling: accounts etc partly from statements in foreign currency
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F15Rules for ascertaining currency equivalents: general
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F16Rules for ascertaining sterling equivalent for section 93(4) or (5)
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The Finance Act 1994
7Lloyd’s underwriters: corporations etc
1
Section 226 of the Finance Act 1994 (c. 9) (provisions which are not to apply to corporate members of Lloyd’s) is amended as follows.
2
Subsection (1) (which prevents sections 92 to 95 of the Finance Act 1993 (c. 34) from applying) shall cease to have effect (and sections 92 to 94AB of that Act shall accordingly apply for the purposes of computing for the purposes of corporation tax the profits or losses of a corporate member’s underwriting business).
Sch. 24 extended (retrospective to 30.9.2002) by Finance Act 2003 (c. 14), s. 177(4)(8)(11)