{
  "url": "https://openlegislation.uk/finance-act-2026/schedule-6/paragraph-23",
  "json_url": "https://openlegislation.uk/finance-act-2026/schedule-6/paragraph-23.json",
  "legislation": "ukpga/2026/11",
  "legislation_title": "Finance Act 2026",
  "legislation_url": "https://openlegislation.uk/finance-act-2026",
  "path": "schedule/6/paragraph/23",
  "kind": "paragraph",
  "number": "23",
  "heading": "Credits and debits treated as relating to capital expenditure",
  "text": "(1) In section 320 of CTA 2009 (loan relationships: credits and debits treated as relating to capital expenditure), after subsection (3) insert—\n“(3A) Subsection (2) does not apply in relation to an amount so far as—\n(a) the amount is treated in the company’s accounts as an amount recognised in determining the carrying value of an interest in an entity,\n(b) the fair value of the loan relationship when it was entered into differs from the transaction price, and\n(c) the amount represents that difference.”\n(2) In section 604 of that Act (derivative contracts: credits and debits treated as relating to capital expenditure), after subsection (3) insert—\n“(3A) Subsection (2) does not apply in relation to an amount so far as—\n(a) the amount is treated in the company’s accounts as an amount recognised in determining the carrying value of an interest in an entity,\n(b) the fair value of the derivative contract when it was entered into differs from the transaction price, and\n(c) the amount represents that difference.”",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2026/11/schedule/6/paragraph/23",
    "retrieved_at": "2026-10-29T08:42:24.914774+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}