The Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) Regulations 2004

  1. Introductory Text

  2. 1.Citation, commencement and effect

  3. 2.Interpretation

  4. 3.Exchange gains or losses arising from liabilities or assets hedging shares etc.

  5. 4.Exchange gains or losses arising from derivative contracts hedging shares etc.

  6. 4A.Relevant value

  7. 4B.Relevant time

  8. 4C.Review period

  9. 5.Regulations 3 and 4: supplementary

  10. 5ZA.Derivatives hedging acquisitions and disposals of shareholdings

  11. 5A.Net investment hedge of foreign operations

  12. 6.Application of regulations 7, 8 and 9 in relation to derivative contracts where fair value accounting applies

  13. 6A.Election to apply regulations 7, 8 or 9

  14. 6B.Effect of elections on group member replacing another as party to derivative contract: regulations 7 and 8

  15. 6C.Effect of elections on transfers within groups: regulation 9

  16. 6D.Transfers within groups where no election under regulation 6A

  17. 7.Fair value profits or losses arising from derivative contracts which are currency contracts

  18. 7A.Exchange gains or losses arising from derivative contracts hedging anticipated or future proceeds from certain issues of shares

  19. 8.Profits or losses arising from derivative contracts which are commodity contracts or debt contracts

  20. 9.Profits or losses arising from derivative contracts which are interest rate contracts

  21. 9A.Profits or losses arising from designated cash flow hedges

  22. 10.Bringing fair value profits or losses into account on currency and commodity contracts

  23. 10A.Bringing exchange gains into account on contracts to which regulation 7A applies

  24. 11.Profits and losses arising from loan relationships with embedded derivatives

  25. 12.(1) For the purposes of section 310(1) of CTA 2009...

  26. 12A.Loan relationships as permanent as equity

  27. 13.Transitional provision: exchange losses arising from contracts to which regulation 7A applies

  28. Signature

  29. Explanatory Note