Processing...
Continue shopping Go to cart

United Kingdom - IFRS and Derivatives Taxation

Country:
United Kingdom
Author:
D. Haworth; J. Hollis
Issue:
Derivatives & Financial Instruments, 2010 (Volume 12), No 2a/Special Issue
Published:
24 March 2010
The United Kingdom operates a broadly accounts-based regime for the taxation of derivative contracts. Significant adjustments to figures shown in the profit and loss account may be required, however, and in some cases the legislation deliberately preserves the position under UK generally accepted accounting practice (UK GAAP) as it stood prior to 1 January 2005, even for companies that account under IFRS. The proposed introduction of IFRS 9 means that further development of the UK tax code is likely.
 
Order Article