Statutory Instruments

2005 No. 3422

INCOME TAX

CORPORATION TAX

The Loan Relationships and Derivative Contracts (Exchange Gains and Losses using Fair Value Accounting) Regulations 2005

Made

12th December 2005

Laid before the House of Commons

12th December 2005

Coming into force

2nd January 2006

The Treasury, in exercise of the powers conferred upon them by section 103(1AA) of the Finance Act 1996(1) and paragraph 54(2A) of Schedule 26 to the Finance Act 2002(2) make the following Regulations:

(1)

1996 c. 8. Sub-section (1AA) was inserted by paragraph 29 of Schedule 4 to the Finance Act 2005 with effect for periods of account beginning on or after 1st January 2005 and substituted by paragraph 10 of Schedule 6 to the Finance (No. 2) Act 2005 with effect from 20 July 2005.

(2)

2002 c. 23. Sub-paragraph (2A) was inserted by paragraph 36 of Schedule 4 to the Finance Act 2005 with effect for periods of account beginning on or after 1st January 2005 and substituted by paragraph 11 of Schedule 6 to the Finance (No.2) Act 2005 with effect from 20 July 2005.