Section 612 Overview of Chapter

United Kingdom

(1)

This Chapter makes further provision about the credits and debits to be brought into account for the purposes of this Part.

(2)

In particular, it—

(a)

provides for adjustments on a change of accounting F1basis (see sections 613 to 615),

(b)

makes provision in relation to certain embedded derivatives (see sections 616 to 618),

(c)

makes provision about partnerships involving companies (see sections 619 to 621),

(d)

makes provision about contracts ceasing to be derivative contracts (see section 622), and

(e)

makes provision in relation to some gilt-edged securities (see section 623).

Annotations

F1: Word in s. 612(2)(a) substituted (with effect in accordance with Sch. 7 Pt. 6 of the amending Act) by Finance (No. 2) Act 2015 (c. 33), Sch. 7 para. 73

C1: Pt. 7 modified (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 601, 1184(1) (with Sch. 2)
C2: Pt. 7 modified (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 88(1)(2)(7) (with s. 147, Sch. 17)
C3: Pt. 7 modified by 2007 c. 3, s. 809FZZ(8) (as inserted (with effect in accordance with s. 37(4) of the amending Act) by Finance Act 2016 (c. 24), s. 37(2))
C4: Pt. 7 modified (for the tax year 2026-27 and subsequent tax years (but in relation to investment management services whenever performed)) by 2005 c. 5, Sch. A1 para. 35(6) (as inserted by Finance Act 2026 (c. 11), s. 58(6), Sch. 11 para. 1)