http://www.legislation.gov.uk/ukpga/2005/7/schedule/4/paragraph/29/enactedFinance Act 2005Corporation taxIncome taxTrustsTaxCapital gains taxKing's Printer of Acts of Parliament2021-08-04SCHEDULESSCHEDULE 4Accounting practice and related mattersPart 2Other provisions connected with accounting practiceFA 199629

In section 103 of FA 1996 (interpretation), after subsection (1A) (meaning of “exchange gains or losses”) insert—(1AA)

In a case where fair value accounting is used the valuation referred to in subsection (1A) is the valuation that would be given by an amortised cost basis of accounting.

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In section 103 of FA 1996 (interpretation), after subsection (1A) (meaning of “exchange gains or losses”) insert—
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