# The Local Currency Elections Regulations 1994, Regulation 3: Elections for trades


(1) Subject to the following provisions of these Regulations, a company carrying on a trade may by notice given to the inspector elect to have the basic profits and losses of the trade computed and expressed for the purposes of corporation tax in a specified local currency.
(2) A company may not make an election under this regulation for a trade for an accounting period if there is in force an election under regulation 4 for that accounting period and any part of that trade.

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Source: https://www.legislation.gov.uk/uksi/1994/3230/regulation/3 (the official version)
Page: https://openlegislation.uk/local-currency-elections-regulations-1994/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.