Point in time view as at 31/10/2006.
There are currently no known outstanding effects for the Finance Act 2004, Cross Heading: Derivative contracts for unallowable purposes.
4(1)In paragraph 23, in sub-paragraph (7) (definition of amount of accumulated credits against which accumulated net losses may be brought into account) in paragraph (b) after “an amount equal to” insert “— U.K.
(i)so much of any debits arising, in the case of the derivative contract, for that accounting period or any earlier accounting period as is not, in accordance with sub-paragraph (3), referable to the unallowable purpose, and
(ii) ”.
(2)The amendment made by this paragraph has effect in relation to accounting periods ending on or after 17th March 2004.
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