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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations amend the Exchange Gains and Losses (Bringing into Account Gains or Losses) Regulations 2005 (S.I. 2002/1970) which provide how and when certain exchange gains and losses are brought into account for tax purposes. The amendment is required as a result of amendments made to the Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) Regulations 2004 (S.I. 2004/3256).

These Regulations do not impose any new costs on business.