Valid from 07/04/2005
30U.K.In Schedule 9 to FA 1996 (loan relationships: special computational provisions), after paragraph 14 (debits and credits treated as relating to capital expenditure) insert—
“Debits and credits recognised in equity or shareholders' fundsU.K.
14AWhere in accordance with generally accepted accounting practice a debit or credit for a period in respect of a loan relationship of a company—
(a)is recognised in equity or shareholders' funds, and
(b)is not recognised in any of the statements mentioned in section 85B(1),
the debit or credit shall be brought into account for that period for the purposes of this Chapter in the same way as a debit or credit that, in accordance with generally accepted accounting practice, is brought into account in determining the company's profit or loss for that period.”.