Finance Act 2011, Cross Heading: Determining the assets, equity and liabilities of UK resident entities is up to date with all changes known to be in force on or before 26 June 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Textual Amendments
F1Sch. 19 paras. 15-15Z5 and cross-headings substituted for Sch. 19 paras. 15-23 (with effect in accordance with Sch. 9 para. 35 of the amending Act) by Finance Act 2018 (c. 3), Sch. 9 para. 2
15G(1)This paragraph applies, in relation to a UK resident entity, for the purposes of paragraphs 15H(2), 15L(3) and 15Z1.U.K.
(2)The assets, equity and liabilities, as at the end of the chargeable period, of the entity are to be determined by reference to—
(a)the amounts recognised in the entity’s financial statements for the chargeable period as prepared under international accounting standards, or
(b)if no such financial statements are prepared, the amounts which would have been so recognised had such financial statements been prepared under international accounting standards.]
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