The Loan Relationships and Derivative Contracts (Change of Accounting Practice) (Amendment) Regulations, SI 2015/1541, come into force on 7 August 2015.
The Loan Relationships and Derivative Contracts (Change of Accounting Practice) (Amendment) Regulations, SI 2015/1541, come into force on 7 August 2015. These amending regulations enable, under CTA 2009 s 319 and s 598, the full impact on corporation tax receipts from transitional accounting adjustments in respect of credit losses on financial instruments arising on first adoption of IFRS 9 to be spread over a ten-year period, regardless of when the debt falls due to be discharged.
The Loan Relationships and Derivative Contracts (Change of Accounting Practice) (Amendment) Regulations, SI 2015/1541, come into force on 7 August 2015.
The Loan Relationships and Derivative Contracts (Change of Accounting Practice) (Amendment) Regulations, SI 2015/1541, come into force on 7 August 2015. These amending regulations enable, under CTA 2009 s 319 and s 598, the full impact on corporation tax receipts from transitional accounting adjustments in respect of credit losses on financial instruments arising on first adoption of IFRS 9 to be spread over a ten-year period, regardless of when the debt falls due to be discharged.
