The Loan Relationships and Derivative Contracts (Change of Accounting Practice) Regulations, SI 2016/1234, ensure that changes introduced by Finance (No 2) Act 2015 will operate as intended from the start for accounting periods commencing on or after 1 January 2016.
The Loan Relationships and Derivative Contracts (Change of Accounting Practice) Regulations, SI 2016/1234, ensure that changes introduced by Finance (No 2) Act 2015 will operate as intended from the start for accounting periods commencing on or after 1 January 2016. The amendments will prevent amounts being brought into account more than once under the 10-year spreading rules, where those amounts are included within other comprehensive income at the commencement of the new rules in January 2016. HMRC consulted during October and November 2016 on a draft version of the regulations.
The Loan Relationships and Derivative Contracts (Change of Accounting Practice) Regulations, SI 2016/1234, ensure that changes introduced by Finance (No 2) Act 2015 will operate as intended from the start for accounting periods commencing on or after 1 January 2016.
The Loan Relationships and Derivative Contracts (Change of Accounting Practice) Regulations, SI 2016/1234, ensure that changes introduced by Finance (No 2) Act 2015 will operate as intended from the start for accounting periods commencing on or after 1 January 2016. The amendments will prevent amounts being brought into account more than once under the 10-year spreading rules, where those amounts are included within other comprehensive income at the commencement of the new rules in January 2016. HMRC consulted during October and November 2016 on a draft version of the regulations.
