SCHEDULES
C1SCHEDULE 15Tax treatment of financing costs and income
Annotations:
Modifications etc. (not altering text)
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.
Sch. 15 modified (21.7.2009 retrospective) by Finance (No. 3) Act 2010 (c. 33), Sch. 5 para. 36(2)