Part 5 Close Companies, Exchange Gains and Basis of Accounting
Finance Act 2022 (2022 c 3) | Legislation

Part 5 Close Companies, Exchange Gains and Basis of Accounting

Non-close QAHCs treated as close companies for certain purposes

37

Chapters 3 to 3B of Part 10 of CTA 2010 (charge to tax in case of loan to participator etc) apply to a QAHC that is not a close company as if the QAHC were a close company.

Exchange gains

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(1)     The Loan Relationships and Derivative Contracts (Exchange Gains and Losses using Fair Value Accounting) Regulations 2005 (SI 2005/3422) are amended as follows.

(2)     In regulation 2 (interpretation), after the definition of “loan relationship” insert—

““QAHC” has the same meaning as in Schedule 2 to FA

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