SCHEDULES

SCHEDULE 2 U.K. Transitionals and savings

Part 8 U.K. Loan relationships

Prospective

Prospective repeal of provisions concerning exchange gains and losses from loan relationships U.K.

Valid from 18/11/2015

71 (1) The following provisions (which rewrite provisions prospectively repealed by F(No.2)A 2005 or are related to such provisions) cease to have effect— U.K.

(a) section 306(2)(e) (introduction to section 328),

(b) section 310(5) (power to make regulations about recognised amounts: exception for exchange gains and losses),

(c) section 328 (exchange gains and losses),

(d) section 384 (treatment of exchange gains and losses),

(e) section 450(6) (meaning of “corresponding debtor relationship”: disregard of section 328(2) to (7)), and

(f) [F1 section 151E] of TCGA 1992 (exchange gains and losses from loan relationships: regulations).

(2) For the power to make an order bringing this paragraph into force, see section 1329(3).

Textual Amendments

F1 Words in Sch. 2 para. 71(1)(f) substituted (18.11.2009) by Corporation Tax Act 2009 (Amendment) Order 2009 (S.I. 2009/2860), arts. 1(1), 6(7)(a)