Explanatory Notes

Corporation Tax Act 2010

2010 CHAPTER 4

3 March 2010

Introduction

Part 2: Calculation of liability in respect of profits

Chapter 4: Currency
Section 12: Sterling equivalents: carried-back amounts

64.This section sets out how a loss is to be converted into sterling from another currency in order to establish the sterling amount of a carried-back loss. It is based on section 92DA of FA 1993.