SCHEDULES
SCHEDULE 25Loan relationships
Part 1Amendments of the Finance Act 1996
5Authorised accounting methods
1
Section 85 is amended as follows.
2
In subsection (2) (accounting methods authorised only if the conditions in the paragraphs of the subsection are satisfied) for paragraph (a) (conformity to normal accountancy practice) substitute—
a
subject to paragraphs (b) to (c) below, it is in conformity with generally accepted accounting practice to use that method in that case;
3
In paragraph (b) of that subsection (provision for allocating payments under a loan relationship to accounting periods) after “payments under a loan relationship” insert “, or arising as a result of a related transaction,”.