Part 3Income tax, corporation tax and capital gains tax
Chapter 2Other provisions
Foreign exchange gains and losses, loan relationships and currency
79 Forex and exchange gains and losses from loan relationships etc
1
The following provisions shall cease to have effect—
a
paragraph 4 of Schedule 9 to the Finance Act 1996 (c. 8) (which excludes foreign exchange gains and losses from the computation of credits and debits under the loan relationships legislation); and
C1b
in consequence, sections 125 to 169 of the Finance Act 1993 (c. 34) (taxation of foreign exchange gains and losses).
2
Schedule 23 to this Act (which makes provision in relation to exchange gains and losses from loan relationships etc) shall have effect.
3
The amendments made by subsection (1) and by Parts 1 and 2 of Schedule 23 have effect in relation to accounting periods beginning on or after 1st October 2002.