{
  "url": "https://openlegislation.uk/loan-relationships-and-derivative-contracts-change-of-accounting-practice-regulations-2004/note",
  "json_url": "https://openlegislation.uk/loan-relationships-and-derivative-contracts-change-of-accounting-practice-regulations-2004/note.json",
  "legislation": "uksi/2004/3271",
  "legislation_title": "The Loan Relationships and Derivative Contracts (Change Of Accounting Practice) Regulations 2004",
  "legislation_url": "https://openlegislation.uk/loan-relationships-and-derivative-contracts-change-of-accounting-practice-regulations-2004",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Regulations)\nThese Regulations make provision for certain credits and debits not to be brought into account in the first accounting period of a company beginning on or after 1st January 2005, are for those credits and debits instead to be brought into account in the first accounting period beginning on or after 1st January 2006.\nRegulation 1 provides for the citation and commencement of the Regulations, and regulation 2 for interpretation.\nRegulation 3 provides that the debits and credits prescribed by regulation 4 shall not be brought into account in the first accounting period of a company beginning on or after 1st January 2005, but shall instead be brought into account in the first accounting period of a company beginning on or after 1st January 2006.\nRegulation 4 prescribes the debits and credits referred to in regulation 3.\nRegulation 5 allows companies which hold assets which they have treated for accounting purposes as held-to-maturity and which subsequently are required to be treated for those purposes as available-for-sale may continue to be treated for tax purposes as if they were held-to-maturity. The concepts of assets which are held-to maturity or available-for sale are set out in International Accounting Standards 32 and 39 issued by the International Accounting Standards Board.\nThese Regulations do not impose new costs on business.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2004/3271/note",
    "retrieved_at": "2026-10-29T05:13:28.355626+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."
}