Paragraph 541

(1)

Amend Schedule 23 (exchange gains and losses from loan relationships etc) as follows.

(2)

Omit paragraph 25 (anti-avoidance: change of accounting period).

(3)

In paragraph 26 (deferred foreign exchange gains)—

(a)

in sub-paragraph (2)—

(i)

in paragraph (a) for “Chapter 2 of Part 4 of the Finance Act 1996 (c. 8)” substitute “ Part 5 of the Corporation Tax Act 2009 ”,

(ii)

in paragraph (b) for “that Chapter” substitute “ that Part ”, and

(iii)

in paragraph (c) for “section 82(2) of the Finance Act 1996” substitute “ section 297(2) of the Corporation Tax Act 2009 ”, and

(b)

in sub-paragraph (5) for “subsection (8) of section 84A of the Finance Act 1996” and “subsection (9)” substitute “ section 328(5) of the Corporation Tax Act 2009 ” and “ subsection (6) ” respectively.