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Finance Act 2003

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Changes over time for: Cross Heading: Conversion of amounts in foreign currency

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Point in time view as at 01/01/2013.

Changes to legislation:

Finance Act 2003, Cross Heading: Conversion of amounts in foreign currency is up to date with all changes known to be in force on or before 24 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Conversion of amounts in foreign currencyU.K.

9(1)References in this Part to the amount or value of the consideration for a transaction are to its amount or value in sterling.U.K.

(2)For the purposes of this Part the sterling equivalent of an amount expressed in another currency shall be ascertained by reference to the London closing exchange rate on the effective date of the transaction (unless the parties have used a different rate for the purposes of the transaction).

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