- Latest available (Revised)
- Original (As enacted)
Corporation Tax Act 2009, Section 570 is up to date with all changes known to be in force on or before 12 October 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.
Whole provisions yet to be inserted into this Act (including any effects on those provisions):
(1)This Part is about how profits and losses arising to a company from its derivative contracts are brought into account for corporation tax purposes.
(2)For the meaning of “derivative contract”, see section 576 and the remainder of Chapter 2.
(3)For how such profits and losses are calculated and brought into account, see—
(a)section 572 (profits and losses to be calculated using credits and debits given by this Part),
(b)section 573 (trading credits and debits to be brought into account under Part 3),
(c)section 574 (non-trading credits and debits to be brought into account under Part 5), and
(d)Chapter 7 (chargeable gains arising in relation to derivative contracts).
(4)For the priority of this Part for corporation tax purposes, see Chapter 12.
(5)This Part also contains the following Chapters (which mainly relate to the amounts to be brought into account in respect of derivative contracts)—
(a)Chapter 3 (credits and debits to be brought into account: general),
(b)Chapter 4 (further provision about credits and debits to be brought into account),
(c)Chapter 5 (continuity of treatment on transfers within groups),
(d)Chapter 6 (special kinds of company),
(e)Chapter 8 (further provision about chargeable gains and derivative contracts),
(f)Chapter 9 (European cross-border transfers of business),
(g)Chapter 10 (European cross-border mergers),
(h)Chapter 11 (tax avoidance), and
(i)Chapter 13 (general and supplementary provisions).
(6)See also section 980 of ITA 2007 (payments under derivative contracts excepted from duty to deduct income tax).
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: