Statutory Instruments
2015 No. 1960
Corporation Tax
The Exchange Gains and Losses (Bringing into Account Gains or Losses) (Amendment) Regulations 2015
Made
3rd December 2015
Laid before the House of Commons
7th December 2015
Coming into force
31st December 2015
Citation, commencement and effect
1. —(1) These Regulations may be cited as the Exchange Gains and Losses (Bringing into Account Gains or Losses) (Amendment) Regulations 2015 and come into force on 31st December 2015.
(2) These Regulations have effect in relation to accounting periods beginning on or after 1st January 2016.
Amendments to the Exchange Gains and Losses (Bringing into Account Gains or Losses) Regulations 2002
2. —(1)The Exchange Gains and Losses (Bringing into Account Gains or Losses) Regulations 2002( 4 ) are amended as follows.
(2) In regulation 4—
(a) in paragraph (1) for “paragraph (4)” substitute “paragraphs (4) and (5)”, and
(b) at the end insert—
“ (5) Paragraph (1) does not apply so far as the net gain or net loss falls to be brought into account apart from this regulation or regulation 6. ” .
(3) In regulation 13—
(a) in paragraph (1), at the start insert “subject to paragraph (3A),”, and
(b) after paragraph (3) insert—
“ (3A) This regulation does not apply so far as the net gain or net loss falls to be brought into account apart from this regulation. ” .
Mel Stride
George Hollingbery
Two of the Lords Commissioners of Her Majesty’s Treasury
3rd December 2015
1992 c. 12 ; section 151E was inserted by paragraph 370 of Schedule 1 to the Corporation Tax Act 2009 (c. 4) .
2002 c. 23 ; paragraph 26(5) of Schedule 23 was amended by paragraph 541(3)(b) of Schedule 1 to the Corporation Tax Act 2009.
2009 c. 4 ; sections 328(4) and 606(4) were substituted by paragraphs 20(5) and 68(5), respectively, of Schedule 7 to the Finance (No 2) Act 2015 (c. 33) .
S.I. 2002/1970 ; relevant amending instruments are S.I. 2004/3259 , 2010/809 and 2014/3325 .