SCHEDULES

C1SCHEDULE 15Tax treatment of financing costs and income

Annotations:
Modifications etc. (not altering text)
C1

Sch. 15 modified (21.7.2009 retrospective) by Finance (No. 3) Act 2010 (c. 33), Sch. 5 para. 36(2)

Part 10Other interpretative provisions

Translation of amounts disclosed in financial statements into sterling

91

1

References in this Schedule (except in Part 2) to an amount disclosed in financial statements for a period are, where the amount is expressed in a currency other than sterling, to that amount translated into its sterling equivalent.

2

The exchange rate by reference to which the amount is to be translated is the average rate of exchange for the period calculated from daily spot rates.