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Corporate Finance Manual
Publication Date: 2020
Publisher: Bloomsbury Professional
Copyright: 2020 Crown
Corporate Finance Manual
An introduction to corporate finance legislation covering loan relationships, foreign exchange (FOREX) and derivative contracts
Last update: 22nd June 2020
Contents
- Close sectionCFM1100: Introduction to the Corporate Finance Manual
- CFM1107: Glossary
- CFM1110: What is the Corporate Finance Manual?
- CFM1120: What is in the Corporate Finance Manual?
- CFM1130: What is not in the Corporate Finance Manual?
- CFM1140: How to use the Corporate Finance Manual
- CFM1150: Improving the Corporate Finance Manual
- CFM1160: Converting from the old Corporate Finance Manual
- CFM1170: Converting from the old Banking Manual
- Close sectionCFM10000: Understanding corporate finance
- CFM10010: Overview of ‘understanding corporate finance’
- Close sectionCFM11000: Raising finance
- CFM11010: Overview
- CFM11020: Issuing shares
- CFM11030: Debt finance
- CFM11040: Controls over borrowing
- CFM11050: Short-term borrowing
- CFM11060: Longer-term borrowing
- CFM11070: Longer-term borrowing: Eurobonds
- CFM11080: The cost of borrowing
- CFM11090: The cost of borrowing: interest
- CFM11100: The cost of borrowing: discounts and premiums
- CFM11110: The cost of borrowing: hybrid debt
- CFM11120: Alternative finance
- CFM11130: Alternative finance: types of contract
- CFM11140: debt securities
- CFM11150: Securitisation
- CFM11160: Reorganising debt
- CFM11170: transferring debt by assignment or novation
- CFM11180: Restructuring debt
- CFM11190: Private equity investment and funding
- CFM11200: Companies as investors
- Close sectionCFM12000: Foreign exchange
- CFM12010: Overview
- CFM12020: What is an exchange rate?
- CFM12030: Why exchange rates matter
- CFM12040: The effect of exchange rates on the value of assets and liabilities
- CFM12050: Fixed exchange rates
- CFM12060: Floating exchange rates
- CFM12070: Exchange rates used in company accounts
- CFM12080: Forward exchange rates
- CFM12090: Purchasing power parity and hyperinflationary currencies
- CFM12100: Interest rate parity
- CFM12110: Exchange controls
- CFM12120: Managing exchange risk: borrowing in a foreign currency
- CFM12130: Managing exchange risk: currency derivatives
- Close sectionCFM13000: Derivative contracts
- CFM13010: Overview
- CFM13020: What is a derivative?
- CFM13030: Underlying assets
- CFM13040: Settlement
- CFM13050: Exchange-traded and ‘over-the-counter’ contracts
- CFM13060: Exchange-traded contracts
- CFM13070: Exchange-traded contracts: margin payments
- CFM13080: Over-the-counter contracts
- CFM13090: Documentation
- CFM13100: Documentation: the ISDA master agreement
- CFM13110: Types of contract
- CFM13120: Types of contract: regulatory definitions
- CFM13130: Types of contract: limits to the regulatory definitions
- CFM13140: Forward contracts
- CFM13150: Forward rate agreements
- CFM13160: Futures
- CFM13170: Futures: example of a commodity future
- CFM13180: Futures: example of a weather future
- CFM13190: Options
- CFM13200: Options: how options work
- CFM13210: Options: valuing options
- CFM13220: Warrants
- CFM13230: Swaps
- CFM13240: Swaps: example of a swap
- CFM13250: Swaps: other types of swap
- CFM13260: Exotic derivatives
- CFM13270: Using derivatives to manage risk
- CFM13280: Interest rate risk
- CFM13290: Interest rate futures and forwards
- CFM13300: Interest forward rate agreement
- CFM13310: Interest rate future
- CFM13320: Interest rate swap
- CFM13330: Interest rate options
- CFM13340: Interest rate caps and floors
- CFM13350: Interest rate collars
- CFM13360: Credit risk
- CFM13370: Credit default swap
- CFM13380: Total return swap
- CFM13390: Foreign exchange risk
- CFM13400: Hedging foreign exchange risk
- CFM13410: Currency option
- CFM13420: Currency swap and FX swaps
- CFM13430: Currency swap: example
- CFM13440: Commodity risk
- CFM13450: Investment risk
- CFM13460: Hedging investment risk
- Close sectionCFM14000: The legal and regulatory framework
- CFM14010: Overview
- CFM14020: The key legislation
- CFM14030: The Financial Services and Markets Act 2000
- CFM14040: The Financial Services and Markets Act 2000: regulated activities
- CFM14060: Regulated entities: banks
- CFM14070: Regulated entities: banks: list of recognised banks
- CFM14080: Regulated entities: building societies
- CFM14090: Regulated entities: collective investments
- CFM14100: Regulation and risk
- CFM14110: Regulatory capital
- CFM14140: Regulatory capital: tiers of capital: Permanent Interest Bearing Shares and Core Capital Deferred Shares
- CFM14150: Regulatory capital: Basel Framework and CRD IV
- Close sectionCFM20000: Accounting for corporate finance
- CFM20010: Overview of guidance
- CFM20015: HMRC technical papers on the transition to new UK GAAP
- CFM20020: International Financial Reporting Standards (IFRS)
- CFM20030: New UK GAAP
- CFM20035: Old UK GAAP
- CFM20040: Accounting standards and groups of companies
- Close sectionCFM21000: Key concepts
- CFM21010: Overview
- CFM21030: Terms used in guidance
- CFM21060: Financial instrument, financial assets and financial liabilities
- CFM21070: Financial instrument, financial assets and financial liabilities: examples
- CFM21080: Financial instrument, financial assets and financial liabilities: meaning of ‘contract’
- CFM21090: Financial instrument, financial assets and financial liabilities: examples of contracts
- CFM21100: Equity instruments
- CFM21110: Equity instruments: examples
- CFM21120: Equity instruments: preference shares
- CFM21130: Examples of what are and are not financial instruments
- CFM21140: Financial instruments outside IAS and Section 11 and 12 of FRS 102
- CFM21150: Finance leases
- CFM21160: Fair value
- CFM21170: Amortised cost
- CFM21180: Amortised cost: examples
- Close sectionCFM21200: Presentation
- CFM21210: Presentation: overview
- CFM21220: Liability and equity: debt and equity
- CFM21230: Liability and equity: derivatives classified as equity
- CFM21240: Liability and equity: derivatives not classified as equity
- CFM21250: Liability and equity: compound financial instruments
- CFM21260: Liability and equity: compound financial instruments: accounting treatment
- CFM21270: Liability and equity: compound financial instruments: example
- Close sectionCFM21300: Offsetting
- Close sectionCFM21400: Classification and measurement
- Close sectionCFM21500: International Financial Reporting Standards (IFRS)
- CFM21505: Overview
- CFM21506: History of IAS 32, IAS 39 and IFRS 9
- CFM21507: The relationship between IAS 32 / 39 and FRS 25 / 26
- CFM21508: International Financial Reporting Standards: the scope of IAS 39
- CFM21510: International Financial Reporting Standards: IAS 39: overview
- CFM21520: International Financial Reporting Standards: IAS 39: classification of financial assets and liabilities
- CFM21530: International Financial Reporting Standards: IAS 39: classification of financial assets and liabilities: fair value through profit and loss
- CFM21540: International Financial Reporting Standards: IAS 39: classification of financial assets and liabilities: fair value through profit and loss: accounting periods from 1 January 2006
- CFM21550: International Financial Reporting Standards: IAS 39: classification of financial assets and liabilities: fair value through profit and loss: accounting periods before 1 January 2006
- CFM21560: International Financial Reporting Standards: IAS 39: classification of financial assets: held to maturity (HTM) investments
- CFM21570: International Financial Reporting Standards: IAS 39: classification of financial assets: tainted HTM investments
- CFM21580: International Financial Reporting Standards: IAS 39: classification of financial assets: loans and receivables (L & R)
- CFM21590: International Financial Reporting Standards: IAS 39: classification of financial assets: available for sale (AFS) assets
- CFM21600: International Financial Reporting Standards: IAS 39: classification of financial assets: reclassification
- CFM21610: International Financial Reporting Standards: IAS 39: measurement of financial assets
- CFM21630: International Financial Reporting Standards: IAS 39: measurement of financial assets: transaction costs
- CFM21660: International Financial Reporting Standards: IAS 39: measurement of financial assets: effect of different asset classifications example
- CFM21670: International Financial Reporting Standards: IAS 39: measurement of financial assets: impairment
- CFM21680: IAS 39: measurement of financial assets: impairment: example
- CFM21690: International Financial Reporting Standards: IAS 39: measurement of financial assets: impairment: accounting treatment
- CFM21700: International Financial Reporting Standards: IAS 39: measurement of financial assets: impairment: accounting treatment: example
- CFM21710: International Financial Reporting Standards: IAS 39: classification of financial liabilities
- CFM21720: International Financial Reporting Standards: IAS 39: measurement of financial liabilities
- CFM21730: International Financial Reporting Standards: IAS 39: measurement of equity instruments
- CFM21740: International Financial Reporting Standards: IAS 39: recognition and derecognition
- CFM21750: International Financial Reporting Standards: IAS 39: recognition and derecognition: derecognition of financial asset
- CFM21760: International Financial Reporting Standards: IAS 39: recognition and derecognition: derecognition of financial liability
- CFM21770: International Financial Reporting Standards: IAS 39: financial assets and liabilities designated in a foreign currency
- CFM21780: International Financial Reporting Standards: IAS 39: transition
- Close sectionCFM21800: IFRS 9
- CFM21810: IFRS 9: Overview
- CFM21820: IFRS 9: The scope of IFRS 9
- CFM21830: IFRS 9: classification of financial assets
- CFM21840: IFRS 9: classification of financial assets: Tests
- CFM21850: IFRS 9: classification of financial liabilities
- CFM21860: IFRS 9: measurement of financial assets and liabilities
- CFM21870: IFRS 9: measurement of financial assets and liabilities: own credit risk
- CFM21880: IFRS 9: reclassification of financial assets and liabilities
- CFM21890: IFRS 9: measurement of financial assets: impairment
- CFM21900: IFRS 9: recognition and derecognition
- CFM21910: IFRS 9: transition
- Close sectionCFM22000: Old UK GAAP (excluding FRS 26)
- CFM22010: Old UK GAAP (excluding FRS 26): lenders: Companies Act
- CFM22020: Old UK GAAP (excluding FRS 26): lenders: accounting standards
- CFM22030: Old UK GAAP (excluding FRS 26): lenders: accrual accounting
- CFM22040: Old UK GAAP (excluding FRS 26): lenders: accrual accounting: balance sheet assets
- CFM22050: Old UK GAAP (excluding FRS 26): lenders: accrual accounting: discounted loans
- CFM22060: Old UK GAAP (excluding FRS 26): lenders: accrual accounting: purchased debt
- CFM22070: Old UK GAAP (excluding FRS 26): lenders: accrual accounting: impaired debt
- CFM22080: Old UK GAAP (excluding FRS 26): lenders: accrual accounting: expenses
- CFM22090: Old UK GAAP (excluding FRS 26): lenders: accrual accounting: fixed rate loans
- CFM22100: Old UK GAAP (excluding FRS 26): lenders: accrual accounting: variable rate loans
- CFM22110: Old UK GAAP (excluding FRS 26): lenders: accrual accounting: discounted securities
- CFM22120: Old UK GAAP (excluding FRS 26): lenders: accrual accounting: convertibles
- CFM22500: Old UK GAAP excluding FRS 26: borrowers
- Close sectionCFM23000: New UK GAAP
- CFM23010: FRS 102: overview
- CFM23015: FRS 102: history of FRS 102
- CFM23020: FRS 102: financial instruments: overview
- CFM23030: FRS 102: classification of financial instruments
- CFM23040: FRS 102: measurement of basic financial instruments
- CFM23045: FRS 102: measurement of basic financial instruments: amortised cost
- CFM23050: FRS 102: measurement of other financial instruments: measurement
- CFM23060: FRS 102: impairment
- CFM23065: FRS 102: impairment: example
- CFM23068: FRS 102: impairment: accounting treatment
- CFM23070: FRS 102: recognition and derecognition of financial instruments
- CFM23075: FRS 102: derecognition of a financial asset
- CFM23078: FRS 102: derecognition of financial liabilities
- CFM23080: FRS 102: financial assets and liabilities designated in a foreign currency
- CFM23090: FRS 102: transition
- CFM23092: FRS 105: history of FRS 105
- CFM23093: FRS 105: financial instruments: overview
- CFM23094: FRS 105: financial instruments: recognition & measurement
- CFM23095: FRS 105: financial instruments: financial assets: impairment
- CFM23096: FRS 105: financial instruments: derecognition
- CFM23097: FRS 105: financial instruments: financial assets: derecognition
- CFM23098: FRS 105: financial instruments: financial liabilities: derecognition
- CFM23099: FRS 105: transition
- Close sectionCFM24000: Accounting for derivative contracts
- CFM24010: Derivative contracts: introduction
- CFM24030: Derivative contracts: what is a financial instrument?
- CFM24200: Derivative contracts: what is a derivative financial instrument?
- CFM24210: Derivative contracts: examples of derivatives
- CFM24220: Derivative contracts: examples of derivatives that are not financial instruments
- CFM24300: Derivative contracts: accounting for derivatives under IFRS, New UK GAAP and Old UK GAAP (including FRS 26
- c
- CFM24410: Derivative contracts: accounting for specific derivatives under Old UK GAAP (excluding FRS 26)
- CFM24420: Derivative contracts: foreign exchange risk under Old UK GAAP (excluding FRS 26)
- CFM24430: Derivative contracts: accounting for interest rate swaps held to manage interest rate risk under Old UK GAAP (excluding FRS 26)
- CFM24440: Derivative contracts: speculative instruments under Old UK GAAP (excluding FRS 26)
- Close sectionCFM25000: Accounting for hybrid debt
- CFM25010: Hybrid debt: what is hybrid debt?
- CFM25020: Hybrid debt: accounting treatment
- CFM25030: Hybrid debt: embedded derivatives
- CFM25040: Hybrid debt: embedded derivatives and bifurcation
- CFM25050: Hybrid debt: closely related embedded derivatives
- CFM25060: Hybrid debt: closely related embedded derivatives: examples
- CFM25070: Hybrid debt: not closely related embedded derivatives
- CFM25080: Hybrid debt: comparison of compound and hybrid financial instruments
- Close sectionCFM26000: Accounting for foreign exchange
- CFM26010: Foreign exchange: accounting standards
- CFM26015: Foreign exchange: summary of differences between SSAP 20 and FRS 23, IFRS and New UK GAAP
- CFM26020: Foreign exchange: scope
- CFM26030: Foreign exchange: basic principles: initial recognition of transactions
- CFM26040: Foreign exchange: basic principles: balance sheet
- CFM26050: Foreign exchange: basic principles: profit and loss account
- CFM26060: Foreign exchange: basic principles: recognition and accruals concept
- CFM26070: Foreign exchange: SSAP 20: contractually fixed exchange rates
- CFM26080: Foreign exchange: SSAP 20: hedging a trading transaction with a forward contract
- CFM26090: Foreign exchange: SSAP 20: hedging a non-trading transaction
- CFM26100: Foreign exchange: SSAP 20: hedging using a speculative currency contract
- CFM26110: Foreign exchange: SSAP 20: hedging using a speculative currency contract: example
- CFM26120: Foreign exchange: SSAP 20: hedging using the cover method
- CFM26130: Foreign exchange: SSAP 20: hedging using the cover method: conditions
- CFM26140: Foreign exchange: SSAP 20: hedging using the cover method: example
- CFM26150: Foreign exchange: SSAP 20: hedging using the cover method: when not to use
- CFM26160: Foreign exchange: SSAP 20: permanent as equity loans
- CFM26200: Foreign exchange: accounting for foreign operations
- Close sectionCFM27000: Accounting for hedging
- CFM27010: Hedging: introduction
- CFM27015: Hedging: development of hedge accounting
- CFM27020: Hedging: overview of hedge accounting
- CFM27030: Hedging: qualifying hedging instrument
- CFM27040: Hedging: hedging within a group
- CFM27050: Hedging: designating a hedging instrument
- CFM27060: Hedging: conditions for hedging
- CFM27070: Hedging: hedge effectiveness
- CFM27080: Hedging: hedge ineffectiveness
- CFM27090: Hedging: qualifying hedged items
- CFM27100: Hedging: non-qualifying hedged items
- CFM27120: Hedging: categories of hedge
- CFM27130: Hedging: fair value hedge
- CFM27140: Hedging: fair value hedge: accounting
- CFM27150: Hedging: cash flow hedge
- CFM27160: Hedging: cash flow hedge: accounting
- CFM27170: Hedging: cash flow hedge: example
- CFM27180: Hedging: hedge of net investment in foreign operation
- CFM27210: Hedging: discontinuation of hedge accounting
- Close sectionCFM30000: Loan relationships
- CFM30100: A brief history and a short guide
- CFM31000: What are loan relationships: contents
- CFM32000: Taxing and relieving provisions
- CFM33000: Computational rules
- CFM34000: Group continuity
- CFM35000: Connected parties
- CFM36000: Partnerships
- CFM37000: Special cases
- CFM37800: Hybrid capital instruments: contents
- CFM38000: Tax avoidance
- CFM39500: Regime anti-avoidance rule
- Close sectionCFM40000: Deemed loan relationships
- Close sectionCFM40100: ‘Deemed’ loan relationships
- Close sectionCFM41000: Money debts
- CFM41010: Deemed loan relationships: money debts: overview
- CFM41020: Deemed loan relationships: money debts other than discounts
- CFM41030: Deemed loan relationships: money debts other than discounts: trade debts: impairment
- CFM41040: Deemed loan relationships: money debts other than discounts: trade debts: restrictions on write-down
- CFM41050: Deemed loan relationships: money debts other than discounts: trade debts: use of fair value accounting
- CFM41060: Deemed loan relationships: trade debts: debt releases
- CFM41070: Deemed loan relationships: trade debts: releases where debtor and creditor are connected
- CFM41080: Deemed loan relationships: trade debts: releases between unconnected companies
- CFM41090: Deemed loan relationships: money debts other than discounts: related transactions for the disposal of interest rights
- CFM41100: Deemed loan relationships: money debts: discounts
- CFM41110: Deemed loan relationships: money debts: discounts: tax consequences within loan relationships
- CFM41120: Deemed loan relationships: money debts: extended definition includes foreign exchange differences
- CFM41130: Deemed loan relationships: money debts: certain foreign exchange differences are excluded
- Close sectionCFM42000: Disguised interest
- CFM42010: Disguised interest: overview
- CFM42020: Disguised interest: repealed provisions
- CFM42030: Disguised interest: commencement
- CFM42040: Disguised interest: the main rules
- CFM42050: Disguised interest: exemptions
- CFM42060: Disguised interest: returns ‘economically equivalent to interest’
- CFM42070: Disguised interest: credits and debits to be brought into account
- CFM42080: Disguised interest: returns split between more than one party
- CFM42090: Disguised interest: no double counting
- CFM42100: Disguised interest: exchange gains and losses
- CFM42110: Disguised interest: meaning of ‘arrangement’
- CFM42120: Disguised interest: returns brought into account for other tax purposes
- CFM42130: Disguised interest: tax avoidance purpose
- CFM42140: Disguised interest: excluded shares: introduction
- CFM42150: Disguised interest: excluded shares: basic rule
- CFM42160: Disguised interest: excluded shares: ‘involves only’
- CFM42170: Disguised interest: excluded shares: ‘relevant shares’
- CFM42180: Disguised interest: excluded shares: fully paid up shares
- Close sectionCFM43000: Holdings in investment funds
- CFM43010: Holdings in investment funds: overview
- CFM43020: Holdings in investment funds: example of the purpose of the legislation
- CFM43030: Holdings in investment funds: relevant holding
- CFM43040: Holdings in investment funds: qualifying investments
- CFM43050: Holdings in investment funds: amounts treated as creditor loan relationships
- CFM43060: Holdings in investment funds: amounts treated as creditor loan relationships: anti-avoidance
- Close sectionCFM44000: Alternative finance
- CFM44010: Alternative finance: overview
- CFM44020: Alternative finance: types of arrangement
- CFM44030: Alternative finance: ‘financial institution’
- CFM44040: Alternative finance: treatment as loan relationships
- CFM44050: Alternative finance: purchase and resale arrangements: conditions
- CFM44060: Alternative finance: purchase and resale arrangements: tax treatment
- CFM44070: Alternative finance: diminishing shared ownership arrangements
- CFM44080: Alternative finance: diminishing shared ownership arrangements: tax treatment
- CFM44090: Alternative finance: deposit arrangements
- CFM44100: Alternative finance: profit share agency arrangements
- CFM44110: Alternative finance: profit share agency arrangements: example
- CFM44120: Alternative finance: investment bond arrangements
- CFM44130: Alternative finance: investment bond arrangements: example
- CFM44140: Alternative finance: investment bond arrangements: conditions
- CFM44150: Alternative finance: investment bond arrangements: conditions: bond assets
- CFM44160: Alternative finance: investment bond arrangements: conditions: payments to bond-holders
- CFM44170: Alternative finance: investment bond arrangements: conditions: convertible arrangements
- CFM44180: Alternative finance: investment bond arrangements: conditions: discounts
- CFM44190: Alternative finance: investment bond arrangements: conditions: exclusion of ‘profit-sharing’ arrangements
- CFM44200: Alternative finance: investment bond arrangements: conditions: reasonable commercial return
- CFM44210: Alternative finance: investment bond arrangements: conditions: accounting test
- CFM44220: Alternative finance: investment bond arrangements: conditions: listing on a recognised stock exchange
- CFM44230: Alternative finance: investment bond arrangements: tax treatment
- CFM44240: Alternative finance: investment bond arrangements: tax treatment of ‘bond assets’
- CFM44250: Alternative finance: investment bond arrangements: tax treatment of ‘bond assets’ as securities
- CFM44260: Alternative finance: investment bond arrangements: tax treatment: ‘asset-backed’ securitisation arrangements
- CFM44270: Alternative finance: transitional rules
- CFM44280: Alternative finance: other tax rules: treatment of non-residents
- CFM44290: Alternative finance: other tax rules: capital allowances and capital gains
- CFM44300: Loan relationships: alternative finance: other tax rules: distributions
- CFM44310: Alternative finance: other tax rules: deduction of tax
- CFM44320: Alternative finance: other tax rules: transfer pricing
- CFM44330: Alternative finance: other tax rules: beneficial loans to employees
- Close sectionCFM45000: Shares as debt
- CFM45010: Shares with guaranteed returns: introduction
- CFM45020: Shares with guaranteed returns: examples of avoidance schemes
- CFM45030: Shares with guaranteed returns: outline of legislation
- CFM45040: Shares with guaranteed returns: main sections of legislation
- CFM45050: Shares with guaranteed returns: outstanding third party obligations
- CFM45060: Shares with guaranteed returns: outstanding third party obligations: debits and credits
- CFM45070: Shares with guaranteed returns: outstanding third party obligations: meaning of outstanding third party obligations
- CFM45080: Shares with guaranteed returns: outstanding third party obligations: meaning of interest-like investment
- CFM45090: Shares with guaranteed returns: outstanding third party obligations: comparison with commercial rate of interest
- CFM45100: Shares with guaranteed returns: outstanding third party obligations: repos and stock loans
- CFM45110: Shares with guaranteed returns: non-qualifying shares
- CFM45120: Shares with guaranteed returns: non-qualifying shares: debits and credits
- CFM45130: Shares with guaranteed returns: non-qualifying shares: meaning of non-qualifying shares
- CFM45140: Shares with guaranteed returns: non-qualifying shares: repos and stock loans
- CFM45150: Shares with guaranteed returns: non-qualifying shares: the increasing value condition
- CFM45160: Shares with guaranteed returns: non-qualifying shares: definition of income producing assets
- CFM45170: Shares with guaranteed returns: non-qualifying shares: the income producing assets test
- CFM45180: Shares with guaranteed returns: non-qualifying shares: the income producing assets test: groups
- CFM45190: Shares with guaranteed returns: non-qualifying shares: application of the increasing value condition
- CFM45200: Shares with guaranteed returns: non-qualifying shares: the redemption return condition
- CFM45210: Shares with guaranteed returns: non-qualifying shares: the redemption return condition: meaning of excepted shares
- CFM45220: Shares with guaranteed returns: non-qualifying shares: the redemption return condition: meaning of qualifying publicly issued shares
- CFM45230: Shares with guaranteed returns: non-qualifying shares: the redemption return condition: mirroring a public issue of shares
- CFM45240: Shares with guaranteed returns: non-qualifying shares: the redemption return condition: unallowable purposes test
- CFM45250: Shares with guaranteed returns: non-qualifying shares: the associated transactions condition
- CFM45260: Shares with guaranteed returns: non-qualifying shares: the associated transactions condition: meaning of associated transaction
- CFM45270: Shares with guaranteed returns: beginning or ceasing to be within the rules
- CFM45280: Shares with guaranteed returns: shares changing ownership in a group
- CFM45290: Shares with guaranteed returns: 16 March 2005 transitional rules
- CFM45300: Shares with guaranteed returns: schemes unwound by 31 December 2005
- CFM45310: Shares with guaranteed returns: meaning of commercial rate of interest
- CFM45320: Shares with guaranteed returns: meaning of commercial rate of interest: simple commercial rate
- CFM45330: Shares with guaranteed returns: interaction with arbitrage rules and capital gains
- Close sectionCFM45400: Returns from partnerships
- CFM45410: Returns from partnerships: introduction
- CFM45420: Returns from partnerships: avoidance schemes: examples
- CFM45430: Returns from partnerships: main sections of legislation
- CFM45440: Returns from partnerships: conditions for CTA 2009, s 536
- CFM45450: Returns from partnerships: definitions for CTA 2009, s 536, CTA 2009, s 537 and CTA 2009, s 538
- CFM45460: Returns from partnerships: effect of CTA 2009, s 536
- Close sectionCFM45500: Shares accounted for as liabilities
- CFM45510: Shares accounted for as liabilities: introduction
- CFM45520: Shares accounted for as liabilities: commencement
- CFM45530: Shares accounted for as liabilities: the legislation
- CFM45540: Shares accounted for as liabilities: returns ‘economically equivalent to interest’
- CFM45550: Shares accounted for as liabilities: excepted shares
- CFM45560: Shares accounted for as liabilities: unallowable purposes
- CFM45570: Shares accounted for as liabilities: entering into and falling out of the rules
- Close sectionCFM46000: Manufactured interest and repos
- CFM46010: Manufactured interest and repos: overview
- CFM46050: Manufactured interest
- CFM46060: Manufactured interest: DCC Holdings
- CFM46070: Manufactured interest: DCC Holdings: FA 2009 changes
- CFM46100: Repos: what is a repo?
- CFM46110: Repos: general collateral repos
- CFM46120: Repos: general collateral repos: examples
- CFM46130: Repos: special collateral repos and reverse repos
- CFM46200: Repos: tax rules: main features
- CFM46210: Repos: tax rules: definitions
- CFM46220: Repos: tax rules: creditor repos and creditor quasi repos
- CFM46230: Repos: tax rules: creditors repos
- CFM46240: Repos: tax rules: creditor quasi-repos
- CFM46250: Repos: tax rules: creditor quasi-repos: examples
- CFM46260: Repos: tax rules: creditor quasi-repos: first tax consequence
- CFM46270: Repos: tax rules: creditor quasi-repos: second tax consequence
- CFM46280: Repos: tax rules: creditor quasi-repos: quasi-interest avoidance schemes
- CFM46290: Repos: tax rules: creditor and creditor quasi-repos: further examples
- CFM46300: Repos: tax rules: creditor and creditor quasi-repos: further examples: no income
- CFM46310: Repos: tax rules: creditor and creditor quasi-repos: further examples: gross paying
- CFM46320: Repos: tax rules: creditor and creditor quasi-repos: further examples: net paying
- CFM46330: Repos: tax rules: creditor and creditor quasi-repos: further examples: creditor quasi-repo
- CFM46340: Repos: tax rules: debtor repos and debtor quasi-repos
- CFM46350: Repos: tax rules: debtor repo
- CFM46360: Repos: tax rules: debtor quasi-repo
- CFM46370: Repos: tax rules: debtor quasi-repo: example
- CFM46380: Repos: tax rules: debtor quasi-repo: first tax consequence
- CFM46390: Repos: tax rules: debtor quasi-repo: first tax consequence: exception
- CFM46400: Repos: tax rules: debtor quasi-repo: first tax consequence: relevant arrangements
- CFM46410: Repos: tax rules: debtor quasi-repo: second tax consequence: exception
- CFM46420: Repos: tax rules: debtor and debtor quasi-repos: further examples
- CFM46430: Repos: tax rules: debtor and debtor quasi-repos: further examples: no income
- CFM46440: Repos: tax rules: debtor and debtor quasi-repos: further examples: gross paying
- CFM46450: Repos: tax rules: debtor and debtor quasi-repos: further examples: net paying
- CFM46460: Repos: tax rules: debtor and debtor quasi-repos: further examples: debtor quasi repo
- CFM46470: Repos: tax rules: creditor and debtor repos: capital gains consequences
- CFM46480: Repos: tax rules: regulation-making powers
- CFM46490: Repos: tax rules: regulations: substitution and redemption of securities
- CFM46500: Repos: tax rules: back to back repos
- CFM46510: Repos: tax rules: interaction with other tax rules
- CFM46520: Repos: tax rules: other types of repo
- CFM46530: Repos: tax rules: deduction of tax
- Close sectionCFM47000: Investment life insurance contracts
- Close sectionCFM50000: Derivative contracts
- Close sectionCFM50010: Introduction to derivative contracts
- CFM50020: Introduction: overview of regime
- CFM50030: Introduction: scope
- CFM50040: Introduction: how profits and losses are charged
- CFM50050: Introduction: fundamental rules
- CFM50060: Introduction: priority rules
- CFM50070: Introduction: contracts outside of Part 7
- CFM50080: Introduction: Tax Bulletin 66 (Sept 2003)
- Close sectionCFM50200: Accounting conditions
- CFM50210: Accounting conditions: introduction
- CFM50215: Accounting conditions: summary
- CFM50220: Accounting conditions: main accounting requirement
- CFM50230: Accounting conditions: meaning of derivative
- CFM50240: Accounting conditions: commodity contracts
- CFM50250: Accounting conditions: commodity contracts: example
- CFM50260: Accounting conditions: meaning of commodity
- CFM50270: Accounting conditions: contracts for differences
- CFM50280: Accounting conditions: alternative accounting requirement
- Close sectionCFM50300: Relevant contracts
- CFM50310: Relevant contracts: overview
- CFM50320: Relevant contracts: why distinguish options, futures and contracts for differences?
- CFM50330: Relevant contracts: meaning of contract
- CFM50340: Relevant contracts: options
- CFM50350: Relevant contracts: options: examples
- CFM50360: Relevant contracts: futures
- CFM50370: Relevant contracts: futures: examples
- CFM50380: Relevant contracts: contracts for differences
- CFM50390: Relevant contracts: contracts for differences: examples
- CFM50400: Relevant contracts: contracts that cannot be contracts for differences
- CFM50410: Relevant contracts: hybrid derivatives with embedded derivatives
- CFM50420: Relevant contracts: loan relationships with embedded derivatives
- CFM50430: Relevant contracts: other contracts with embedded derivatives
- Close sectionCFM50500: Underlying subject matter
- CFM50510: Underlying subject matter: introduction
- CFM50520: Underlying subject matter: futures and options
- CFM50530: Underlying subject matter: futures and options examples
- CFM50540: Underlying subject matter: contracts for differences
- CFM50550: Underlying subject matter: contracts for differences examples
- CFM50560: Underlying subject matter: payments on variable dates
- CFM50570: Underlying subject matter: income streams
- CFM50580: Underlying subject matter: subordinate or small value
- CFM50590: Underlying subject matter: subordinate or small value: example
- Close sectionCFM50700: Exclusions from regime
- CFM50710: Exclusions from regime: introduction
- CFM50720: Exclusions from regime: intangible fixed asset contracts
- CFM50730: Exclusions from regime: contracts over shares
- CFM50740: Exclusions from regime: share-based contracts always within Part 7
- CFM50750: Exclusions from regime: equity derivatives: condition A
- CFM50760: Exclusions from regime: equity derivatives: condition B
- CFM50770: Exclusions from regime: hedging relationship: meaning
- CFM50780: Exclusions from regime: hedging relationship: examples
- CFM50790: Exclusions from regime: equity derivatives: condition C
- CFM50800: Exclusions from regime: equity derivatives: condition D
- CFM50810: Exclusions from regime: equity derivatives: condition E
- CFM50820: Exclusions from regime: contracts beginning or ceasing to be derivative contracts
- CFM50830: Exclusions from regime: contract becomes a derivative contract
- CFM50840: Exclusions from regime: contract ceases to be derivative contract
- CFM50850: Exclusions from regime: contracts changing status before 30 December 2006
- CFM50860: Exclusions from regime: splitting options and futures
- Close sectionCFM51000: The matters and computational rules: contents
- CFM51005: The matters and computational rules: changes made by F(2)A15
- CFM51010: The matters and computational rules: position before changes made by F(2)A15
- CFM51020: The matters and computational rules: how amounts are taxed
- CFM51030: The matters and computational rules: trading or non-trading?
- CFM51032: The matters and computational rules: the matters in respect of which amounts are to be brought into account
- CFM51034: The matters and computational rules: amounts to be brought into account
- CFM51036: The matters and computational rules: amounts recognised in OCI and not transferred to profit or loss
- CFM51040: The matters and computational rules: basic computational rule
- CFM51050: the matters and computational rules: ‘fairly represents’
- CFM51060: The matters and computational rules: related transactions
- CFM51070: The matters and computational rules: GAAP
- CFM51080: The matters and computational rules: non GAAP compliant accounts
- CFM51090: The matters and computational rules: expenses
- CFM51100: The matters and computational rules: exchange gains and losses
- CFM51110: The matters and computational rules: disregarding credits and debits
- Close sectionCFM52000: Departure from accounts
- CFM52010: The matters and computational rules: exceptions from the basic rules
- CFM52020: The matters and computational rules: mandatory fair value accounting
- CFM52030: The matters and computational rules: changes of accounting policy
- CFM52033: The matters and computational rules: tax-adjusted carrying value
- CFM52038: The matters and computational rules: transitional rules for changes made by F(2)A15
- CFM52040: The matters and computational rules: capitalised amounts
- CFM52050: The matters and computational rules: credits and debits in equity
- CFM52060: The matters and computational rules: statutory insolvency arrangements
- CFM52070: Group continuity: deemed assignment when company ceases to be resident
- Close sectionCFM52500: Embedded derivatives
- CFM52510: Embedded derivatives: introduction
- CFM52520: Embedded derivatives: derivatives in non loan relationships
- CFM52530: Embedded derivatives: tax treatment under S616
- CFM52540: Embedded derivatives: example of S616
- CFM52550: Embedded derivatives: hybrid derivatives
- CFM52560: Embedded derivatives: elections out of S616
- CFM52570: Embedded derivatives: rules for groups
- CFM52580: Embedded derivatives: prepaid equity forwards
- CFM52590: Embedded derivatives: index-linked gilts
- Close sectionCFM52700: Partnerships
- Close sectionCFM53000: Group continuity
- CFM53010: Group continuity: introduction and layout of guidance
- CFM53020: Group continuity: conditions
- CFM53030: Group continuity: novations and other indirect replacements
- CFM53040: Group continuity: series of transactions
- CFM53050: Group continuity: transfers before 16 March 2005
- CFM53060: Group continuity: examples of transfers before 16 March 2005
- CFM53070: Group continuity: transfers on or after 16 March 2005
- CFM53080: Group continuity: examples of transfers on or after 16 March 2005
- CFM53090: Group continuity: fair value accounting
- CFM53100: Group continuity: deemed assignment when company ceases to be UK resident
- CFM53110: Group continuity: degrouping charge
- CFM53120: Group continuity: the European Mergers Tax Directive
- CFM53130: Group continuity: avoidance using group continuity rules
- Close sectionCFM54000: Special kinds of company
- Close sectionCFM55000: Chargeable gains on derivatives
- CFM55010: Chargeable gains on derivatives: summary
- CFM55020: Chargeable gains on derivatives: overview
- CFM55030: Chargeable gains on derivatives: chargeable gains basis (S641)
- CFM55040: Chargeable gains on derivatives: carry back of losses
- CFM55050: Chargeable gains on derivatives: carry back of losses: computation
- CFM55060: Chargeable gains on derivatives: S641 treatment: examples
- CFM55070: Chargeable gains on derivatives: carry back of losses: examples
- CFM55080: Chargeable gains on derivatives: land or tangible moveable property (S643)
- CFM55090: Chargeable gains on derivatives: land or tangible moveable property: example
- CFM55100: Chargeable gains on derivatives: property based total return swaps (S650)
- CFM55110: Chargeable gains on derivatives: property based total return swaps: tax treatment
- CFM55120: Chargeable gains on derivatives: property based total return swaps: example
- CFM55130: Chargeable gains on derivatives: treatment of shares acquired under non-embedded derivatives (S667 & S668)
- Close sectionCFM55200: Holders of convertible or share-linked securities
- CFM55210: Holders of convertible or share-linked securities: convertible securities: introduction
- CFM55215: Holders of convertible or share-linked securities: convertible securities: accounting treatment
- CFM55220: Holders of convertible or share-linked securities: conditions for CTA 2009, s 645 to apply
- CFM55230: Holders of convertible or share-linked securities: tax consequences where CTA 2009, s 645 applies
- CFM55240: Holders of convertible or share-linked securities: pre 1 January 2005 convertibles
- CFM55250: Holders of convertible or share-linked securities: convertibles where CTA 2009, s 645 does not apply
- CFM55260: Holders of convertible or share-linked securities: embedded derivatives which are options: example
- CFM55270: Holders of convertible or share-linked securities: conversion of security: example
- CFM55280: Holders of convertible or share-linked securities: events treated as disposal of security: examples
- CFM55290: Holders of convertible or share-linked securities: share-linked securities
- CFM55300: Holders of convertible or share-linked securities: ‘exactly tracking’ CFDs: examples
- CFM55310: Holders of convertible or share-linked securities: tax treatment of share-linked securities: example
- Close sectionCFM55400: Issuers of convertible or share-linked securities
- CFM55410: Issuers of convertible or share-linked securities: introduction
- CFM55420: Issuers of convertible or share-linked securities: non-standard convertibles
- CFM55430: Issuers of convertible or share-linked securities: non-standard convertibles: tax treatment of deemed options
- CFM55440: Issuers of convertible or share-linked securities: non-standard convertibles: options exercised and shares delivered - examples
- CFM55450: Issuers of convertible or share-linked securities:non-standard convertibles: option exercised and cash-settled - examples
- CFM55460: Issuers of convertible or share-linked securities: non-standard convertibles: option lapses - example
- CFM55470: Issuers of convertible or share-linked securities: securities containing CFDs
- CFM55480: Issuers of convertible or share-linked securities: securities containing CFDs: meaning of ‘exactly tracking contract’
- CFM55490: Issuers of convertible or share-linked securities: securities containing CFDs: ‘exactly tracking contract’ - examples
- CFM55500: Issuers of convertible or share-linked securities: securities containing CFDs - example
- CFM55510: Issuers of convertible or share-linked securities: standard convertibles and other securities containing equity instruments
- CFM55520: Issuers of convertible or share-linked securities: equity instruments: example
- CFM55530: Issuers of convertible or share-linked securities:standard convertibles: exceptional cash-out example
- CFM55540: Issuers of convertible or share-linked securities: grandfathering of pre 1 January 2005 securities
- Close sectionCFM56000: Tax avoidance
- CFM56005: Tax avoidance: overview of anti-avoidance rules
- CFM56010: Tax avoidance: unallowable purposes: overview
- CFM56020: Tax avoidance: meaning of ‘unallowable purpose’
- CFM56030: Tax avoidance: unallowable purposes: allowance of accumulated net losses
- CFM56040: Tax avoidance: unallowable purposes: allowance of accumulated net losses: examples
- CFM56060: Tax avoidance: exchange gains and losses where Sch 28AA applies
- CFM56070: Tax avoidance: transfers of value to connected companies
- CFM56080: Tax avoidance: transfers of value to connected companies: example
- CFM56090: Tax avoidance: derivative contracts with non-residents
- CFM56100: Tax avoidance: consideration not fully recognised by accounting practice
- CFM56110: Tax avoidance: amounts not fully recognised for accounting purposes
- CFM56112: Tax avoidance: amounts not fully recognised for accounting purposes: conditions A to C
- CFM56114: Tax avoidance: amounts not fully recognised for accounting purposes: periods beginning on or after 6 December 2010
- CFM56116: Tax avoidance: amounts not fully recognised for accounting purposes: no debits for derecognition
- CFM56118: Tax avoidance: amounts not fully recognised for accounting purposes: commencement
- Close sectionCFM57000: Hedging
- CFM57010: Hedging: introduction
- CFM57030: Hedging: historical overview
- CFM57040: Hedging: Disregard Regulations overview
- CFM57041: Hedging: change in election approach
- CFM57050: Hedging: hedging relationship
- CFM57060: Hedging: hedging relationship: intention
- CFM57070: Hedging: hedging relationship: HMRC enquiries
- CFM57071: Hedging: default approach
- CFM57072: Hedging: regulation 9A
- CFM57073: Hedging: regulation 9A treatment: example
- CFM57075: Hedging: overview of regulations 7, 8 and 9
- CFM57080: Hedging: regulation 7
- CFM57090: Hedging: when regulation 7 applies
- CFM57100: Hedging: regulation 7: first example
- CFM57110: Hedging: regulation 7: no designated hedge
- CFM57120: Hedging: regulation 7: second example
- CFM57130: Hedging: regulation 7 and transition
- CFM57200: Hedging: regulation 8
- CFM57210: Hedging: regulation 10
- CFM57220: Hedging: regulation 10: examples
- CFM57230: Hedging: regulation 10: capital expenditure
- CFM57240: Hedging: regulation 10 (3A): example
- CFM57250: Hedging: regulation 10: more than one cash flow
- CFM57270: Hedging: regulation 10: events not treated as termination events
- CFM57280: Hedging: regulation 10: ignoring recycling
- CFM57290: Hedging: regulation 9: interest rate contracts
- CFM57300: Hedging: regulation 9: scope
- CFM57310: Hedging: regulation 9: meaning of ‘interest rate contract’
- CFM57320: Hedging: regulation 9: appropriate accruals basis
- CFM57330: Hedging: regulation 9: hedge of interest rate risk: example
- CFM57340: Hedging: regulation 9: just and reasonable adjustments: example
- CFM57350: Hedging: regulation 9: further examples
- CFM57360: Hedging: electing into the Disregard Regulations
- CFM57370: Hedging: electing into regulations 7, 8 and/or 9
- CFM57371: Hedging: anti-avoidance
- CFM57380: Hedging: regulations 6B-6D: transfers within groups
- CFM57390: Hedging: regulations 6B-6D: transfers within groups: example
- CFM57400: Hedging: pre-2015: election rules
- CFM57410: Hedging: pre-2015: regulations 7 and 8 elections
- CFM57420: Hedging: pre-2015: regulations 7 and 8 elections: example
- CFM57430: Hedging: pre-2015: regulation 9 elections
- CFM57440: Hedging: pre-2015: regulation 9 elections: mandatory treatment
- CFM57450: Hedging: pre-2015: regulation 9 elections: time limits and effects
- Close sectionCFM50010: Introduction to derivative contracts
- Close sectionCFM60000: Foreign exchange
- CFM60010: Overview
- Close sectionCFM61000: The treatment of exchange gains and losses for companies
- CFM61010: Tax rules on exchange gains and losses: how the legislation has developed
- CFM61020: Tax rules on exchange gains and losses: the FA 2002 changes
- CFM61030: Tax rules on exchange gains and losses: what are exchange gains and losses
- CFM61040: Tax rules on exchange gains and losses: examples of exchange gains and losses
- CFM61050: Tax rules on exchange gains and losses: company has a non-sterling functional currency
- CFM61060: Tax rules on exchange gains and losses: loan relationships and derivative contracts: exchange rate to be used
- CFM61070: Tax rules on exchange gains and losses: loan relationships and derivative contracts
- CFM61080: Tax rules on exchange gains and losses: loan relationships and derivative contracts: example
- CFM61090: Tax rules on exchange gains and losses: loan relationships and derivative contracts: money debts, provisions, foreign cash
- CFM61100: Tax rules on exchange gains and losses: loan relationships and derivative contracts: amounts not taxable or allowable
- CFM61110: Tax rules on exchange gains and losses: loan relationships and derivative contracts: non-monetary assets
- CFM61120: Tax rules on exchange gains and losses: loan relationships and derivative contracts: giving effect to exchange differences
- CFM61130: Tax rules on exchange gains and losses: loan relationships and derivative contracts: connected parties
- CFM61140: Tax rules on exchange gains and losses: loan relationships and derivative contracts: exchange differences in reserves
- CFM61150: Tax rules on exchange gains and losses: loan relationships and derivative contracts: exchange differences on shares
- CFM61160: Tax rules on exchange gains and losses: loan relationships and derivative contracts: special rules on fair value accounting
- CFM61170: Tax rules on exchange gains and losses: loan relationships and derivative contracts: special rules on fair value accounting: Exchange Gains and Losses Regulations
- CFM61180: Tax rules on exchange gains and losses: loan relationships and derivative contracts: special rules on fair value accounting: available for sale assets
- Close sectionCFM62000: Foreign exchange: matching (net investment hedging)
- CFM62010: Matching: what is matching?
- CFM62020: Matching: example
- CFM62030: Matching: example of the cover method
- CFM62040: Matching: example of cover the method with partial hedging
- CFM62050: Matching: example of hedging with different currencies
- CFM62060: Matching: how SSAP 20 deals with matching
- CFM62070: Matching: matching and IAS
- CFM62200: Matching: the tax treatment of matching where SSAP 20 used
- CFM62260: Matching: bringing amounts back into account
- CFM62600: Matching: the tax treatment of matching where IAS used
- Close sectionCFM63000: Foreign exchange: matching: anti-avoidance
- Close sectionCFM64000: Accounts drawn up in a foreign currency (currency accounting)
- CFM64010: Foreign exchange: accounts drawn up in a foreign currency: overview
- CFM64020: Foreign exchange: accounts drawn up in a foreign currency: the rules from 1993 to 2004
- CFM64030: Foreign exchange: accounts drawn up in a foreign currency: the rules from 2005 onwards
- CFM64100: Foreign exchange: accounts drawn up in a foreign currency: the basic rule: profits are computed in sterling
- CFM64110: Foreign exchange: accounts drawn up in a foreign currency: functional currency and presentation currency
- CFM64120: Foreign exchange: accounts drawn up in a foreign currency: where the presentation currency and the functional currency are different
- CFM64130: Foreign exchange: accounts drawn up in a foreign currency: where the presentation currency and the functional currency are the same
- CFM64140: Foreign exchange: accounts drawn up in a foreign currency: part of a business
- CFM64150: Foreign exchange: accounts drawn up in a foreign currency: capital allowances
- CFM64160: Foreign exchange: accounts drawn up in a foreign currency: losses
- CFM64161: Foreign exchange: accounts drawn up in a foreign currency: losses: amounts carried back
- CFM64162: Foreign exchange: accounts drawn up in a foreign currency: losses: amounts brought forward
- CFM64170: Foreign exchange: accounts drawn up in a foreign currency: exchange rate to be used on translation
- CFM64180: Foreign exchange: accounts drawn up in a foreign currency: capital gains
- CFM64300: Foreign exchange: accounts drawn up in a foreign currency: FA 2009
- CFM64500: Foreign exchange: accounts drawn up in a foreign currency: designated currency election
- Close sectionCFM70000: Other tax rules on corporate debt
- CFM70010: Overview and layout of the guidance
- CFM70020: Layout of the guidance
- Close sectionCFM70100: Exemptions from loan relationships
- Close sectionCFM71000: Banks and building societies
- CFM71010: Banks
- CFM71020: Building societies
- CFM71030: Bank and building society dormant accounts
- CFM71040: Bank and building society dormant accounts: dormant accounts scheme
- CFM71050: Bank and building society dormant accounts: dormant accounts scheme: taxation
- CFM71060: Building society transfers of business
- CFM71070: Building society transfers of business: bonus payments and dividends
- Close sectionCFM72000: Securitisation
- CFM72010: Background
- CFM72020: Background: basic terminology
- CFM72030: Background: basic structures: true sale/asset-backed securitisation
- CFM72040: Background: true sale/asset-backed securitisation: example
- CFM72050: Background: master trust securitisation
- CFM72060: Background: master trust securitisation: example
- CFM72070: Background: whole business and other types of securitisation
- CFM72080: Background: synthetic securitisation: example
- CFM72090: Background: SPVs and other common features
- CFM72100: Periods beginning before 1 January 2005
- CFM72110: Periods beginning before 1 January 2005: general points
- CFM72120: Periods beginning before 1 January 2005: bad and doubtful debts
- CFM72130: Periods beginning before 1 January 2005: offshore SPVs
- CFM72140: Periods beginning before 1 January 2005: example
- CFM72200: Periods beginning on or after 1 January 2005: overview of the new rules
- CFM72210: Periods beginning on or after 1 January 2005: the interim regime
- CFM72220: Periods beginning on or after 1 January 2005: the interim regime: definitions
- CFM72230: Periods beginning on or after 1 January 2005: the interim regime: the note-issuing company
- CFM72240: Periods beginning on or after 1 January 2005: the interim regime: other types of securitisation company
- CFM72250: Periods beginning on or after 1 January 2005: the interim regime: the application of ‘former UK GAAP’
- CFM72260: Periods beginning on or after 1 January 2005: the interim regime: continuation after 2008
- CFM72270: Periods beginning on or after 1 January 2005: the interim regime: continuation after 2008: the transitional rules
- CFM72300: Periods beginning on or after 1 January 2007: the permanent regime
- CFM72310: Periods beginning on or after 1 January 2007: alternative finance arrangements
- CFM72320: Periods beginning on or after 1 January 2007: the regulations
- CFM72330: Periods beginning on or after 1 January 2007: the regulations: commencement
- CFM72340: Periods beginning on or after 1 January 2007: the regulations: interpretation
- CFM72350: Periods beginning on or after 1 January 2007: the regulations: interpretation: ‘financial assets’
- CFM72360: Periods beginning on or after 1 January 2007: the regulations: scope
- CFM72370: Periods beginning on or after 1 January 2007: the regulations: meaning of ‘securitisation company’
- CFM72380: Periods beginning on or after 1 January 2007: the regulations: the note-issuing company
- CFM72390: Periods beginning on or after 1 January 2007: the regulations: the note-issuing company: ‘independent persons’
- CFM72400: Periods beginning on or after 1 January 2007: the regulations: the note issuing company: incidental activities
- CFM72410: Periods beginning on or after 1 January 2007: the regulations: the asset-holding company
- CFM72420: Periods beginning on or after 1 January 2007: the regulations: the asset-holding company: partnerships
- CFM72430: Periods beginning on or after 1 January 2007: the regulations: the asset-holding company: subordinated debt
- CFM72440: Periods beginning on or after 1 January 2007: the regulations: intermediate borrowing companies
- CFM72450: Periods beginning on or after 1 January 2007: the regulations: warehouse companies
- CFM72460: Periods beginning on or after 1 January 2007: the regulations: warehouse companies: abortive warehouse arrangements
- CFM72470: Periods beginning on or after 1 January 2007: the regulations: commercial paper funded companies
- CFM72480: Periods beginning on or after 1 January 2007: the regulations: ‘retained profit’
- CFM72490: Periods beginning on or after 1 January 2007: the regulations: ‘retained profit’: dividends received
- CFM72500: Periods beginning on or after 1 January 2007: the regulations: conditions to be met by securitisation companies
- CFM72510: Periods beginning on or after 1 January 2007: the regulations: the payments condition: introduction
- CFM72520: Periods beginning on or after 1 January 2007: the regulations: the payments condition: the formula
- CFM72530: Periods beginning on or after 1 January 2007: the regulations: the payments condition: examples of ‘RA’
- CFM72540: Periods beginning on or after 1 January 2007: the regulations: the payments condition: meaning of payment
- CFM72550: Periods beginning on or after 1 January 2007: the regulations: the payments condition: failure to make a payment
- CFM72560: Periods beginning on or after 1 January 2007: the regulations: the payments condition: other points
- CFM72570: Periods beginning on or after 1 January 2007: the regulations: the unallowable purposes rule
- CFM72580: Periods beginning on or after 1 January 2007: the regulations: the corporation tax charge: the formula: “RP” and “DS”
- CFM72590: Periods beginning on or after 1 January 2007: the regulations: the corporation tax charge: the formula: “D”
- CFM72600: Periods beginning on or after 1 January 2007: the regulations: the corporation tax charge: the ‘specified amount’
- CFM72610: Periods beginning on or after 1 January 2007: the regulations: the corporation tax charge: applies instead of the normal CT rules
- CFM72620: Periods ending on or after 1 January 2007: the regulations: modifications to the commencement and cessation rules
- CFM72630: Periods beginning on or after 1 January 2007: the regulations: modifications to other tax rules
- CFM72640: Periods beginning on or after 1 January 2007: the regulations: modifications to other tax rules: group relief
- CFM72650: Periods beginning on or after 1 January 2007: the regulations: modifications to other tax rules: capital assets
- CFM72660: Periods beginning on or after 1 January 2007: the regulations: modifications to other tax rules: loan relationships
- CFM72670: Periods beginning on or after 1 January 2007: the regulations: modifications to other tax rules: derivative contracts
- CFM72675: modifications to certain tax rules: recovery of unpaid corporation tax
- CFM72680: Periods beginning on or after 1 January 2007: the regulations: modifications to other tax rules: other points
- CFM72690: Periods beginning on or after 1 January 2007: credit card securitisations
- CFM72700: Periods beginning on or after 1 January 2007: the regulations: modifications to other tax rules: taxation of the investor
- CFM72710: Periods beginning on or after 1 January 2007: other types of securitisation company
- Close sectionCFM73000: Structured finance
- CFM73010: Overview
- CFM73020: Avoidance background
- CFM73030: Avoidance background: examples
- CFM73040: CTA 2010, Part 16 Factoring of income etc
- CFM73050: Definitions
- CFM73060: Conditions for Section 758
- CFM73070: Connected persons
- CFM73080: Partnership borrowers
- CFM73090: The relevant effects
- CFM73100: The first two relevant effects
- CFM73110: The third relevant effect
- CFM73120: The third relevant effect: example
- CFM73130: Partnership borrower and the relevant effect
- CFM73140: Summary of the relevant effects
- CFM73150: No consequences for the lender
- CFM73160: Finance charges
- CFM73170: The complex partnership case
- CFM73180: Sections 763 to 769
- CFM73190: Condition A cases
- CFM73200: Condition B cases
- CFM73210: Relevant charge for the Condition A and B cases
- CFM73220: Tax treatment of the complex case
- CFM73230: Reversal of relevant effect in a complex case
- CFM73240: Partnership finance charges
- CFM73250: Exceptions
- CFM73260: Section 784A and sections 758 to 769
- CFM73270: Exclusions from Sections 759 and 765
- CFM73280: Accounting practice and accounts
- CFM73290: Commencement and transition
- CFM73300: Capital gains tax
- Close sectionCFM74000: Stock loans and manufactured payments
- Close sectionCFM75000: Deduction of tax
- CFM75010: Introduction to deduction of tax
- CFM75020: Deduction of tax: TDSI
- CFM75030: Deduction of tax: TDSI: guidance and responsibilities
- CFM75040: Deduction of tax: who is a deposit taker
- CFM75050: Deduction of tax: relevant investments
- CFM75060: Deduction of tax: deposits that are not relevant investments
- CFM75070: Deduction of tax: payment without deduction of tax
- CFM75080: Deduction of tax: accounting for tax deducted and audits
- CFM75090: Deduction of tax: certificates
- CFM75100: Deduction of tax: interest paid in the ordinary course of banking business
- CFM75110: Deduction of tax: advances by a bank
- CFM75120: Deduction of tax: derivatives
- Close sectionCFM76000: Changes of accounting practice
- CFM76010: Change of accounting basis: overview
- CFM76020: Change of accounting basis: bringing amounts into account
- CFM76030: Transition to IAS: cases where there is no prior period adjustment
- CFM76040: Change of accounting basis: meaning of ‘tax-adjusted carrying value’
- CFM76045: Change of accounting basis: TACV - amounts in OCI
- CFM76048: Change of accounting basis: TACV - other examples
- CFM76050: Change of accounting basis: ‘post-cessation’ gains and losses
- CFM76060: Change of accounting basis: secondary legislation
- CFM76070: Change of accounting basis: COAP Regs: overview
- CFM76080: Change of accounting basis: the COAP Regs: ‘prescribed’ debits and credits
- CFM76090: Change of accounting basis: the COAP Regs: spreading rules
- CFM76100: Change of accounting basis: amounts excluded
- CFM76110: Change of accounting basis: examples: AFS and FVTOCI assets
- CFM76120: Change of accounting basis: examples: own credit risk
- Close sectionCFM77000: Transfers of income streams
- CFM77010: Transfers of income streams: overview
- CFM77020: Transfers of income streams: the legislation
- CFM77030: Transfers of income streams: company transferors
- CFM77040: Transfers of income streams: company transferors: transfer of underlying asset: rights under agreement for annual payment
- CFM77050: Transfers of income streams: company transferors: transfer of underlying asset: transfer under sale and repurchase agreement
- CFM77060: Transfers of income streams: company transferors: relevant amount
- CFM77070: Transfers of Income Streams: company transferors: relevant amount: treatment
- CFM77080: Transfers of income streams: company transferors: relevant amount: timing
- CFM77090: Transfers of income streams: company transferors: exclusions
- CFM77100: Transfers of income streams: company transferors: partnership shares
- CFM77110: Transfers of income streams: company transferors: transfers of certain interests in assets regarded as transfers of underlying asset
- CFM77120: Transfers of income streams: company transferors: meaning of ‘transfer’
- CFM77130: Transfers of income streams: company transferors: transfer to or by a partnership of which a company is a member
- CFM77140: Transfers of income streams: non-corporate transferors
- CFM77150: Transfers of income streams: non-corporate transferors: financial traders
- CFM77160: Transfers of income streams: transferees
- Close sectionCFM77500: Group mismatch schemes and tax mismatch schemes
- CFM77510: Group mismatch schemes: overview
- CFM77520: Group mismatch schemes: outline of the legislation
- CFM77530: Group mismatch schemes: the conditions
- CFM77540: Group mismatch schemes: application of the conditions
- CFM77550: Group mismatch schemes: meaning of scheme
- CFM77560: Group mismatch schemes: the first asymmetry condition
- CFM77570: Group mismatch schemes: the second asymmetry condition
- CFM77580: Group mismatch schemes: meaning of relevant tax advantage
- CFM77590: Group mismatch schemes: meaning of scheme period
- CFM77600: Group mismatch schemes: meaning of group
- CFM77610: Group mismatch schemes: meaning of economic profit or loss
- CFM77620: Group mismatch schemes: tax capacity
- CFM77630: Group mismatch schemes: tax capacity: example
- CFM77640: Group mismatch schemes: schemes involving repos, quasi-repos or finance arrangements
- CFM77650: Group mismatch schemes: other specific instances
- CFM77710: Tax mismatch schemes: overview
- CFM77720: Tax mismatch schemes: outline of the legislation
- CFM77730: Tax mismatch schemes: the conditions
- CFM77740: Tax mismatch schemes: application of the conditions
- CFM77750: Tax mismatch schemes: meaning of scheme
- CFM77760: Tax mismatch schemes: the first asymmetry condition
- CFM77770: Tax mismatch schemes: the second asymmetry condition
- CFM77780: Tax mismatch schemes: meaning of relevant tax advantage
- CFM77790: Tax mismatch schemes: meaning of scheme period
- CFM77800: Tax mismatch schemes: meaning of economic profit or loss
- CFM77810: Tax mismatch schemes: tax capacity
- CFM77820: Tax mismatch schemes: Priority over unallowable purpose legislation (s.441, CTA09)
- Close sectionCFM80000: Old rules
- CFM80010: Old rules: overview
- CFM80020: Old rules: loan relationships: quick guide to converting from FA 1996 to CTA 2009
- CFM80030: Old rules: derivative contracts: quick guide to converting from FA 2002 to CTA 2009
- Close sectionCFM80100: Old rules: loan relationships: authorised accounting methods
- CFM80110: Old rules: loan relationships: authorised accounting methods: overview
- CFM80120: Old rules: loan relationships: authorised accounting methods: what are authorised accounting methods?
- CFM80130: Old rules: loan relationships: authorised accounting methods: meaning of generally accepted accounting practice
- CFM80140: Old rules: loan relationships: authorised accounting methods: meaning of generally accepted accounting practice: debtors and creditors
- CFM80150: Old rules: loan relationships: authorised accounting methods: accruals basis
- CFM80160: Old rules: loan relationships: authorised accounting methods: accruals basis: allocating payments
- CFM80170: Old rules: loan relationships: authorised accounting methods: accruals basis: accruing interest
- CFM80180: Old rules: loan relationships: authorised accounting methods: accruals basis: accruing discount
- CFM80190: Old rules: loan relationships: authorised accounting methods: accruals basis: market discount
- CFM80200: Old rules: loan relationships: authorised accounting methods: accruals basis: amounts payable in full
- CFM80210: Old rules: loan relationships: authorised accounting methods: accruals basis: authorised arrangements for bad debt
- CFM80220: Old rules: loan relationships: authorised accounting methods: accruals basis: authorised arrangements for bad debt: conditions
- CFM80230: Old rules: loan relationships: authorised accounting methods: accruals basis: authorised arrangements for bad debt: ‘bad debt relief’
- CFM80240: Old rules: loan relationships: authorised accounting methods: mark to market
- CFM80250: Old rules: loan relationships: authorised accounting methods: authorised mark to market
- CFM80260: Old rules: loan relationships: authorised accounting methods: accruals basis: meaning of fair value
- CFM80270: Old rules: loan relationships: authorised accounting methods: which authorised method?
- CFM80280: Old rules: loan relationships: authorised accounting methods: which authorised method: approach to adopt
- CFM80290: Old rules: loan relationships: authorised accounting methods: statutory accounts
- CFM80300: Old rules: loan relationships: authorised accounting methods: ‘equates to’
- CFM80310: Old rules: loan relationships: authorised accounting methods: electing for mark-to-market
- CFM80320: Old rules: loan relationships: authorised accounting methods: changes of method
- Close sectionCFM81000: Old rules: loan relationships: connected persons
- CFM81010: Old rules: loan relationships: connected persons: overview
- CFM81020: Old rules: loan relationships: connected persons: consequences of connection
- CFM81030: Old rules: loan relationships: connected persons: connection through control
- CFM81040: Old rules: loan relationships: connected persons: exempt circumstances
- CFM81050: Old rules: loan relationships: connected persons: conditions for exemption: company
- CFM81060: Old rules: loan relationships: connected persons: conditions for exemption: debt
- CFM81070: Old rules: loan relationships: connected persons: late interest and discounted securities
- Close sectionCFM81100: Old rules: loan relationships: connection and bad debts
- CFM81110: Old rules: loan relationships: connection and bad debts: overview
- CFM81120: Old rules: loan relationships: connection and bad debts: basic rules
- CFM81130: Old rules: loan relationships: connection and bad debts: basic rules: example
- CFM81140: Old rules: loan relationships: connection and bad debts: consortia
- CFM81150: Old rules: loan relationships: connection and bad debts: disposal of debt
- CFM81160: Old rules: loan relationships: connection and bad debts: cessation of connection
- CFM81170: Old rules: loan relationships: connection and bad debts: exceptions to rules
- CFM81180: Old rules: loan relationships: connection and bad debts: becoming connected
- CFM81190: Old rules: loan relationships: connection and bad debts: becoming connected: Para 6B
- CFM81200: Old rules: loan relationships: connection and bad debts: acquiring bad debts
- CFM81210: Old rules: loan relationships: connection and bad debts: acquiring bad debts: relief for acquired bad debt
- CFM81220: Old rules: loan relationships: connection and bad debts: acquiring bad debts: relief for acquired bad debt: examples
- CFM81230: Old rules: loan relationships: connection and bad debts: acquiring bad debts: no relief for acquired bad debt: examples
- CFM81240: Old rules: loan relationships: connection and bad debts: creditor in debt/equity swap
- CFM81250: Old rules: loan relationships: connection and bad debts: creditor is insolvent
- CFM81260: Old rules: loan relationships: connection and bad debts: effect on debtor where creditor insolvent
- CFM81270: Old rules: loan relationships: connection and bad debts: debtor is insolvent
- Close sectionCFM81300: Old rules: loan relationships: consortia and bad debts
- CFM81310: Old rules: loan relationships: consortia and bad debts: overview
- CFM81320: Old rules: loan relationships: consortia and bad debts: summary of Para 5A
- CFM81330: Old rules: loan relationships: consortia and bad debts: conditions for Para 5A
- CFM81340: Old rules: loan relationships: consortia and bad debts: amount of restriction
- CFM81350: Old rules: loan relationships: consortia and bad debts: relevant net debit
- CFM81360: Old rules: loan relationships: consortia and bad debts: group relief
- CFM81370: Old rules: loan relationships: consortia and bad debts: effect of releases
- CFM81380: Old rules: loan relationships: consortia and bad debts: limit of debits
- CFM81390: Old rules: loan relationships: consortia and bad debts: limit of debits - examples
- CFM81400: Old rules: loan relationships: consortia and bad debts: subsequent recovery
- CFM81410: Old rules: loan relationships: consortia and bad debts: group relief restriction
- CFM81420: Old rules: loan relationships: consortia and bad debts: carry forward of group relief
- Close sectionCFM82000: Old rules: loan relationships: convertibles and asset-linked securities pre 2005
- Close sectionCFM83000: Old rules: derivative contracts: USM and qualified exclusions
- CFM83010: Derivative contracts: historical overview
- CFM83020: Derivative contracts: overview: FA 1994
- CFM83030: Derivative contracts: overview: FA 2002
- CFM83040: Derivative contracts: overview: amending regulations
- CFM83050: Derivative contracts: overview: FA 2004 changes
- CFM83060: Derivative contracts: underlying subject matter: land and chattels
- CFM83070: Derivative contracts: underlying subject matter: shares
- CFM83080: Derivative contracts: underlying subject matter: ‘quasi equity’ derivatives
- CFM83090: Derivative contracts: qualified exclusions: shares held for trade purposes
- CFM83100: Derivative contracts: qualified exclusions: overview of Para 6
- CFM83110: Derivative contracts: qualified exclusions: Para 6 example
- CFM83120: Derivative contracts: qualified exclusions: transactions covered
- CFM83130: Derivative contracts: qualified exclusions: meaning of guaranteed return
- CFM83140: Derivative contracts: qualified exclusions: presumptions about purpose
- CFM83150: Derivative contracts: qualified exclusions: meaning of ‘return from contract’
- CFM83160: Derivative contracts: qualified exclusions: Para 7 introduction
- CFM83170: Derivative contracts: qualified exclusions: operation of Para 7
- CFM83180: Derivative contracts: qualified exclusions: Para 8
- CFM83190: Derivative contracts: transitional provisions: Para 4A
- CFM83200: Derivative contracts: transitional provisions: Para 4A examples
- CFM83210: Derivative contracts: transitional provisions: Paras 4B and 4C
- CFM83220: Derivative contracts: transitional provisions: Para 4B and 4C examples
- Close sectionCFM84000: Old rules: derivative contracts: basic rules pre FA 2004
- CFM84010: Derivative contracts: basic rules pre FA 2004: authorised methods
- CFM84020: Derivative contracts: basic rules pre FA 2004: GAAP
- CFM84030: Derivative contracts: basic rules pre FA 2004: authorised accruals method
- CFM84040: Derivative contracts: basic rules pre FA 2004: accruals basis
- CFM84050: Derivative contracts: basic rules pre FA 2004: accruals basis examples
- CFM84060: Derivative contracts: basic rules pre FA 2004: mark to market
- CFM84070: Derivative contracts: basic rules pre FA 2004: mark to market examples
- CFM84080: Derivative contracts: basic rules pre FA 2004: accruals and MTM compared
- CFM84090: Derivative contracts: basic rules pre FA 2004: connected parties
- CFM84100: Derivative contracts: basic rules pre FA 2004: which authorised method?
- CFM84110: Derivative contracts: basic rules pre FA 2004: authorised method or equivalent
- CFM84120: Derivative contracts: basic rules pre FA 2004: applying the correct method
- CFM84130: Derivative contracts: basic rules pre FA 2004: equates to an authorised method
- CFM84140: Derivative contracts: basic rules pre FA 2004: electing for mark to market
- CFM84150: Derivative contracts: basic rules pre FA 2004: mandatory mark to market
- CFM84160: Derivative contracts: basic rules pre FA 2004: computing credits and debits
- CFM84170: Derivative contracts: basic rules pre FA 2004: related transactions
- CFM84180: Derivative contracts: basic rules pre FA 2004: profits, gains and losses
- CFM84190: Derivative contracts: basic rules pre FA 2004: change of accounting method
- CFM84200: Derivative contracts: basic rules pre FA 2004: change of accounting method example
- CFM84210: Derivative contracts: basic rules pre FA 2004: reserves
- CFM84220: Derivative contracts: basic rules pre FA 2004: expenses
- CFM84230: Derivative contracts: basic rules pre FA 2004: exchange gains and losses
- Close sectionCFM85000: Old rules: derivative contracts: transitional to FA 2002, Sch 26
- CFM85010: Derivative contracts: transition to FA02: overview
- CFM85020: Derivative contracts: transition to FA 2002, Sch 26: Change of accounting date before 1 October 2002
- CFM85030: Derivative contracts: transition to FA 2002, Sch 26: Contracts previously taxed by FA 1994
- CFM85040: Derivative contracts: transition to FA 2002, Sch 26: Contracts with post-cessation profits or losses
- CFM85050: Derivative contracts: transition to FA 2002, Sch 26: Contracts that were chargeable assets
- CFM85060: Derivative contracts: transition to FA 2002, Sch 26: Contracts with guaranteed returns
- CFM85070: Derivative contracts: transition to FA 2002, Sch 26: Contracts with minimum returns
- Close sectionCFM86000: Old rules: forex and accounts drawn up in a foreign currency
- CFM86010: Forex and accounts drawn up in a foreign currency: overview
- CFM86020: Forex and accounts drawn up in a foreign currency: tax rules on exchange gains and losses pre 2005
- CFM86100: Forex and accounts drawn up in a foreign currency: pre 2005
- CFM86300: Forex and accounts drawn up in a foreign currency: matching: transition from FA 1993 rules
- Close sectionCFM90000: Debt cap
- Close sectionCFM90100: Overview
- CFM90110: Overview: scope of the guidance
- CFM90120: Overview: introduction
- CFM90130: Overview: background
- CFM90140: Overview: debt cap and international accounting standards
- CFM90150: Overview: legislation
- CFM90160: Overview: summary of rules
- CFM90170: Overview: commencement
- CFM90180: Overview: anti-forestalling rule
- CFM90190: Overview: getting help and advice
- Close sectionCFM90200: Which groups are affected
- CFM90210: Groups affected: introduction
- CFM90220: Groups affected: ‘large’ groups
- CFM90230: Groups affected: EU definitions
- CFM90240: Groups affected: relevant group companies
- CFM90250: Groups affected: UK group companies
- CFM90260: Groups affected: meaning of a group
- CFM90270: Groups affected: meaning of ‘ultimate parent’
- CFM90280: Groups affected: collective investment schemes
- CFM90290: Groups affected: meaning of ‘corporate entity’
- CFM90300: Groups affected: meaning of ‘relevant non-corporate entity’
- CFM90310: Groups affected: groups with stapled stock
- CFM90320: Groups affected: dual listed groups
- Close sectionCFM90400: Group accounts
- CFM90410: Group accounts: introduction
- CFM90420: Group accounts: consolidated financial statements
- CFM90430: Group accounts: the importance of accounting policies
- CFM90440: Group accounts: acceptable financial statements
- CFM90450: Group accounts: financial statements not acceptable
- CFM90460: Group accounts: no consolidated financial statements prepared
- CFM90470: Group accounts: deriving amounts from consolidated financial statements
- CFM90480: Group accounts: groups merging and de-merging
- CFM90485: Group accounts: groups merging and de-merging: merger examples
- CFM90490: Group accounts: groups merging and de-merging: de-merger examples
- Close sectionCFM90600: Gateway test
- CFM90610: Gateway test: introduction
- CFM90615: Gateway test: CTSA returns
- CFM90620: Gateway test: test based around period of account of the worldwide group
- CFM90630: Gateway test: UK net debt derived from financial statements of group companies
- CFM90640: Gateway test: UK permanent establishments
- CFM90650: Gateway test: group companies with different accounting periods to that of the worldwide group
- CFM90655: Gateway test: the accounting periods of companies joining or leaving a group
- CFM90660: Gateway test: worldwide gross debt derived from group consolidated financial statements
- CFM90670: Gateway test: group does not prepare consolidated financial statements
- CFM90680: Gateway test: calculation of UK net debt
- CFM90690: Gateway test: de minimis limit
- CFM90700: Gateway test: calculation of worldwide gross debt
- CFM90710: Gateway test: definition of relevant liabilities - short and long term borrowing
- CFM90715: Gateway test: definition of relevant liabilities - UK permanent establishments
- CFM90718: Gateway test: definition of relevant liabilities - finance leases and ‘quasi loans’
- CFM90720: Gateway test: definition of relevant assets
- CFM90730: Gateway test: calculation of gateway test using presentation currency of the group
- CFM90740: Gateway test: application of the gateway test: examples
- Close sectionCFM90800: Financial services groups
- CFM90810: Financial services groups: introduction
- CFM90820: Financial services groups: qualification test based on income from business activities
- CFM90830: Financial services groups: qualification based on business activities of the worldwide group or the group companies
- CFM90840: Financial services groups: qualification affected by losses on activities normally reported on a net basis
- CFM90850: Financial services groups: dealing with group companies which are not members of the group for the whole period of account
- CFM90860: Financial services groups: meaning of ‘substantially all’
- CFM90870: Financial services groups: qualifying activities
- CFM90880: Financial services groups: lending activities
- CFM90890: Financial services groups: activities ancillary to lending activities
- CFM90900: Financial services groups: insurance activities
- CFM90910: Financial services groups: insurance related activities
- CFM90920: Financial services groups: Lloyd's
- CFM90930: Financial services groups: dealing in financial instruments
- CFM90940: Financial services groups: trading income of worldwide group
- CFM90950: Financial services groups: trading income of UK group companies
- CFM90960: Financial services groups: income statement of a financial services group: example
- Close sectionCFM91000: Calculating the disallowance of financing expense amounts
- CFM91010: Calculating the disallowance of financing expense amounts: introduction
- CFM91020: Calculating the disallowance of financing expense amounts: the tested expense amount
- CFM91030: Calculating the disallowance of financing expense amounts: financing expense amounts of a relevant group company
- CFM91040: Calculating the disallowance of financing expense amounts: loan relationships debits
- CFM91050: Calculating the disallowance of financing expense amounts: related transactions
- CFM91060: Calculating the disallowance of financing expense amounts: derivatives
- CFM91070: Calculating the disallowance of financing expense amounts: embedded derivatives
- CFM91080: Calculating the disallowance of financing expense amounts: de minimis amount
- CFM91085: Calculating the disallowance of financing expense amounts: election under section 331ZA
- CFM91090: Calculating the disallowance of financing expense amounts: different accounting reference dates
- CFM91100: Calculating the disallowance of financing expense amounts: relevant group companies joining or leaving groups
- CFM91110: Calculating the disallowance of financing expense amounts: calculation of disallowance
- Close sectionCFM91200: Calculating the exemption of financing income amounts
- CFM91210: Calculating the exemption of financing income amounts: introduction
- CFM91220: Calculating the exemption of financing income amounts: tested income amount
- CFM91230: Calculating the exemption of financing income amounts: financing income of a UK group company
- CFM91240: Calculating the exemption of financing income amounts: de minimis amount
- CFM91245: Calculating the exemption of financing income amounts: election under section 331ZA
- CFM91250: Calculating the exemption of financing income amounts: UK group companies with different accounting periods
- CFM91260: Calculating the exemption of financing income amounts: UK group companies joining or leaving the group
- CFM91270: Calculating the exemption of financing income amounts: examples
- Close sectionCFM91300: Introduction to allocating the disallowance and exemption
- CFM91310: Introduction to allocating the disallowance and exemption: outline
- CFM91320: Introduction to allocating the disallowance and exemption: time limit
- CFM91330: Introduction to allocating the disallowance and exemption: who makes the statements?
- CFM91340: Introduction to allocating the disallowance and exemption: which group companies should be included
- CFM91350: Introduction to allocating the disallowance and exemption: who can sign on behalf of a group company
- CFM91360: Introduction to allocating the disallowance and exemption: interaction with CTSA
- CFM91370: Introduction to allocating the disallowance and exemption: no disallowance needed
- CFM91380: Introduction to allocating the disallowance and exemption: balancing payments
- Close sectionCFM91400: Appointment of the authorised company
- CFM91410: Appointment of the authorised company: outline
- CFM91420: Appointment of the authorised company: appointing an authorised company for allocating disallowances
- CFM91430: Appointment of the authorised company: appointing an authorised company for allocating exemptions
- CFM91440: Appointment of the authorised company: acting on behalf of group companies
- CFM91450: Appointment of the authorised company: appointment to cover both statements
- CFM91460: Appointment of the authorised company: required information
- CFM91470: Appointment of the authorised company: initial appointment and continued effect
- CFM91480: Appointment of the authorised company: revocation
- CFM91490: Appointment of the authorised company: companies leaving and joining
- CFM91500: Appointment of the authorised company: when the appointment will not be accepted
- Close sectionCFM91600: Statements of allocation
- CFM91610: Statement of allocation: outline for disallowance statements
- CFM91620: Statement of allocation: required information for disallowance
- CFM91625: Statement of allocation: groups with dual resident investing companies
- CFM91630: Statement of allocation: outline for exemption statements
- CFM91640: Statement of allocation: required information for exemptions
- CFM91650: Statement of allocation: information accompanying the statement
- CFM91660: Statement of allocation: joint statement
- CFM91670: Statement of allocation: submission of initial statement
- CFM91680: Statement of allocation: late submission of initial statement
- CFM91690: Statement of allocation: submission of revised statement
- CFM91700: Statement of allocation: late submission of revised statement: conditions A and B
- CFM91710: Statement of allocation: late submission of revised statement: condition A
- CFM91720: Statement of allocation: late submission of revised statement: examples
- CFM91730: Statement of allocation: revised statement and CTSA returns
- CFM91740: Statement of allocation: obvious error or omission
- Close sectionCFM91800: Failure to make statements of allocation
- CFM91810: Failure to make statements of allocation: outline
- CFM91820: Failure to make statements of allocation: default allocation of disallowance of financing expense amounts: no DRICs
- CFM91825: Failure to make statements of allocation: default allocation of disallowance of financing expense amounts: DRICs involved
- CFM91830: Failure to make statements of allocation: default allocation of disallowance of financing expense amounts: DRICs: formulae
- CFM91835: Failure to make statements of allocation: default allocation of disallowance of financing expense amounts: DRICs: example
- CFM91840: Failure to make statements of allocation: election for allocation of disallowance for company with multiple financing expense amounts
- CFM91850: Failure to make statements of allocation: default allocation of disallowance for company with multiple financing expense amounts
- CFM91860: Failure to make statements of allocation: default allocation of disallowance for company with multiple financing expense amounts: example
- CFM91870: Failure to make statements of allocation: default treatment of financing income amounts
- CFM91880: Failure to make statements of allocation: default treatment of financing income amounts: example
- CFM91890: Failure to make statements of allocation: provision of information to group companies
- CFM91900: Failure to make statements of allocation: worldwide group with more than one ultimate UK parent
- CFM91910: Failure to make statements of allocation: information not provided to group companies
- CFM91920: Failure to make statements of allocation: circumstances when a group company can make an amended return
- Close sectionCFM92000: Intra-group short-term debt
- CFM92010: Intra-group short-term debt: introduction
- CFM92020: Intra-group short-term debt: excluding finance expenses
- CFM92030: Intra-group short-term debt: corresponding exclusion of finance income
- CFM92040: Intra-group short-term debt: example of the effects of sections 319 and 320
- CFM92050: Intra-group short-term debt: what is a short-term finance arrangement?
- CFM92060: Intra-group short-term debt: loans and money debts with a fixed term
- CFM92070: Intra-group short-term debt: debts with no defined repayment date
- CFM92080: Intra-group short-term debt: example of practical application
- CFM92090: Intra-group short-term debt: revolving loan accounts
- CFM92100: Intra-group short-term debt: long-term aggregated loan relationships
- CFM92110: Intra-group short-term debt: finance arrangements with a long-term funding purpose
- CFM92120: Intra-group short-term debt: examples of long-term funding purpose
- CFM92130: Intra-group short-term debt: examples of arrangements without a long-term funding purpose
- CFM92140: Intra-group short-term debt: anti-avoidance rules
- Close sectionCFM92200: Stranded reliefs
- Close sectionCFM92400: Available amount
- CFM92405: Available amount: introduction
- CFM92410: Available amount: definition of the available amount
- CFM92415: Available amount: finance expenses included in the available amount
- CFM92420: Available amount: amortising discount and premium
- CFM92425: Available amount: debt linked to an index
- CFM92430: Available amount: ancillary and financing expenses
- CFM92435: Available amount: alternative finance arrangements
- CFM92440: Available amount: capitalised finance expenses in the consolidated financial statements
- CFM92445: Available amount: dividends treated as borrowing costs for accounting purposes
- CFM92450: Available amount: exclusions from available amount - oil
- CFM92453: Available amount: exclusions from available amount - shipping
- CFM92455: Available amount: exclusions from available amount - property income
- CFM92457: Available amount: subsiduaries that are not consolidated
- CFM92459: Available amount: partnerships
- CFM92460: Available amount: the Available Amount Regulations
- CFM92465: Available amount: regulations on money debt and manufactured payments
- CFM92470: Available amount: regulations on repos and quasi repos
- CFM92475: Available amount the mismatch regulations
- CFM92478: Available amount: fair value mismatches
- CFM92480: Available amount: conditions for fair value mismatches
- CFM92483: Available amount: late interest mismatches
- CFM92485: Available amount: DDS mismatches
- CFM92488: Available amount: embedded derivatives
- CFM92490: Available amount: debt restructuring mismatches
- CFM92492: Available amount: employer asset-backed pension contribution mismatches
- Close sectionCFM92500: Particular types of company
- CFM92510: Particular types of company: introduction
- CFM92515: Particular types of company: dormant companies
- CFM92520: Particular types of company: exemption for group treasury companies
- CFM92530: Particular types of company: group treasury companies: periods of account beginning before 11 December 2012
- CFM92535: Particular types of company: group treasury companies: periods of account beginning on or after 11 December 2012
- CFM92540: Particular types of company: group treasury companies: treasury activities
- CFM92550: Particular types of company: real estate investment trusts
- CFM92560: Particular types of company: oil extraction activities
- CFM92565: Particular types of company: industrial and provident societies
- CFM92570: Particular types of company: charities
- CFM92580: Particular types of company: educational and public bodies
- Close sectionCFM92600: Anti-avoidance rules
- CFM92610: Introduction
- CFM92615: General: definition of a scheme
- CFM92620: General: scheme as part of a wider scheme
- CFM92625: General: schemes in place before commencement date
- CFM92630: General: main purpose test
- CFM92635: General: UK company is not party to particular transactions
- CFM92640: General: when the purpose test is applied
- CFM92645: General: change in purpose and whether there is a new scheme to consider
- CFM92650: General: excluded schemes
- CFM92655: General: requests for clearances
- CFM92660: Gateway: conditions for anti-avoidance rules to apply
- CFM92665: Gateway: effect of anti-avoidance rules applying
- CFM92670: Gateway: excluded schemes
- CFM92675: Gateway: particular avoidance: examples
- CFM92680: Gateway: non-abusive schemes
- CFM92685: Financial services exclusion and anti-avoidance rules
- CFM92690: Main rules: scope for avoidance
- CMF92658: Anti-avoidance rules: schemes preventing the debt cap applying to a large group
- CFM92695: Main rules: conditions for anti-avoidance rules to apply
- CFM92700: Main rules: meaning of ‘relevant net reduction’
- CFM92705: Main rules: examples of comparing relevant net reductions
- CFM92710: Main rules: condition B - sum of profits of UK group companies
- CFM92715: Main rules: condition B - losses of UK group companies
- CFM92720: Main rules: effect of anti-avoidance rules applying
- CFM92725: Main rules: calculating the counterfactual
- CFM92730: Main rules: calculating the counterfactual: examples
- CFM92735: Main rules: excluded schemes: general
- CFM92738: Main rules: excluded schemes: de minimis amount
- CFM92740: Main rules: particular avoidance: examples
- CFM92745: Main rules: non-abusive schemes: examples
- CFM92750: EEA financing income: conditions for anti-avoidance rules to apply
- CFM92755: EEA financing income: effect of anti-avoidance rules applying
- CFM92760: EEA financing income: excluded schemes
- CFM92765: EEA financing income: particular avoidance: examples
- CFM92770: EEA financing income: non-abusive schemes: examples
- Close sectionCFM92800: Income from EEA group companies
- CFM92810: Income from EEA group companies: introduction
- CFM92820: Income from EEA group companies: financing income amounts potentially involved
- CFM92830: Income from EEA group companies: priority of application
- CFM92840: Income from EEA group companies: conditions to be met
- CFM92850: Income from EEA group companies: payer is a relevant associate of recipient
- CFM92860: Income from EEA group companies: payer is tax resident in an EEA territory
- CFM92870: Income from EEA group companies: payer is EEA PE of non-EEA resident company
- CFM92880: Income from EEA group companies: payer is liable to tax
- CFM92890: Income from EEA group companies: qualifying EEA tax relief
- CFM92900: Income from EEA group companies: qualifying EEA tax relief given in current or previous period of account
- CFM92910: Income from EEA group companies: ‘all steps taken’
- CFM92920: Income from EEA group companies: qualifying EEA tax relief available for future period of account
- CFM92930: Income from EEA group companies: when to test
- CFM92940: Income from EEA group companies: interaction with double taxation agreements
- Close sectionCFM93000: Interaction with other rules
- CFM93010: Interaction with other rules: deduction of tax
- CFM93020: Interaction with other rules: late payment of interest - transitional rule
- CFM93030: Interaction with other rules: transfer pricing
- CFM93040: Interaction with other rules: tax arbitrage
- CFM93045: Interaction with other rules: Hybrid Mismatch
- CFM93050: Interaction with other rules: controlled foreign companies: accounting periods beginning before 1 January 2013
- CFM93055: Interaction with other rules: controlled foreign companies - CFC accounting periods beginning on or after 1 January 2013
- CFM93060: Interaction with other rules: Coroprate Interest Restriction: Periods of account straddling 1 April 2017
- Close sectionCFM90100: Overview
- Close sectionCFM95000: Interest restriction
- Close sectionCFM95100: Overview
- Close sectionCFM95200: Core rules
- CFM95210: Core rules: summary of the rules - the company and the group
- CFM95220: Core rules: interest capacity, allowances and disallowances
- CFM95230: Core rules: the fixed ratio method
- CFM95240: Interest restriction: core rules: the group ratio method
- CFM95250: Core rules: carry forward and reactivations
- CFM95260: Interest restriction: core rules: special rules
- CFM95270: Interest restriction: core rules: transitional Rules
- CFM95280: Interest restriction: core rules: administration
- Close sectionCFM95300: Groups, periods and financial statements
- Close sectionCFM95600: Tax- interest
- CFM95605: Tax-interest: overview
- CFM95610: Tax-interest: tax-interest expense and income amounts
- CFM95620: Tax-interest: disregarded periods
- CFM95630: Tax-interest: relevant loan relationship amounts
- CFM95640: Tax-interest: loan relationship fair value accounting
- CFM95650: Tax-interest: relevant derivative contract amounts
- CFM95660: Tax-interest: implicit financing costs
- CFM95670: Tax-interest: consideration received for provision of a guarantee
- CFM95680: Tax-interest: double taxation relief
- CFM95690: Tax-interest: co-operative and community benefit societies
- CFM95695: Tax-interest: certain payments made to charities
- CFM95697: Tax-interest: Authorised Investment Funds and Investment Trust Companies
- CFM95698: Tax-interest: securitisation companies
- Close sectionCFM95700: Tax-EBITDA
- CFM95710: Tax-EBITDA: overview
- CFM95720: Tax-EBITDA: Adjusted Corporation Tax Earnings
- CFM95730: Tax-EBITDA: disregarded periods
- CFM95735: Tax-EBITDA: qualifying tax reliefs
- CFM95740: Tax-EBITDA: Film Tax Relief
- CFM95750: Tax-EBITDA: Television Tax Relief
- CFM95760: Tax-EBITDA: Video Games Tax Relief
- CFM95770: Tax-EBITDA: Theatre Tax Relief
- CFM95780: Tax-EBITDA: Orchestra Tax Relief
- CFM95790: Tax-EBITDA: Museums and Galleries Exhibition Tax Relief
- CFM95800: Tax-EBITDA: Patent box
- CFM95805: Tax-EBITDA: Intangibles
- CFM95810: Tax-EBITDA: R&D Tax Relief
- CFM95820: Tax-EBITDA: R&D Expenditure Credits
- CFM95830: Tax-EBITDA: Land Remediation Relief
- CFM95840: Tax-EBITDA: Charitable Donations Relief
- CFM95850: Tax-EBITDA: Double Taxation Relief
- Close sectionCFM95900: Group-interest
- Close sectionCFM96200: Related parties
- CFM96210: Related parties: overview
- CFM96220: Related parties: general rule
- CFM96230: Related parties: meaning of 25% investment
- CFM96240: Related parties: 25% investment - attribution of rights and interests: connected persons
- CFM96250: Related parties: 25% investment - attribution of rights and interests: persons acting together
- CFM96260: Related parties: 25% investment - attribution of rights and interests: qualifying arrangement
- CFM96270: Related parties: liabilities guaranteed by a related party
- CFM96275: Related parties: liabilities where a related party indirectly stands as a creditor
- CFM96280: Related parties: holdings of debt and equity in the same proportions
- CFM96290: Related parties: where unrelated parties hold at least 50% of the same debt
- CFM96300: Related parties: where unrelated parties hold at least 50% of debt with the same rights: examples
- CFM96310: Related parties: debt restructuring
- CFM96320: Related parties: ordinary independent financing arrangements by banks and others
- CFM96330: Related parties: loans made by relevant public bodies
- CFM96340: Related parties: finance leases granted before 1 April 2017
- Close sectionCFM96400: Group-EBITDA
- CFM96410: Group-EBITDA: definition of group-EBITDA
- CFM96430: Group-EBITDA: depreciation and amortisation adjustment
- CFM96440: Group-EBITDA: capital (expenditure) adjustment
- CFM96450: Group-EBITDA: capital (fair value movement) adjustment
- CFM96460: Group-EBITDA: capital (disposals) adjustment
- CFM96470: Group-EBITDA: relevant assets
- CFM96480: Group-EBITDA: example 1
- CFM96490: Group-EBITDA: example 2
- CFM96500: Group-EBITDA: derivative contracts
- Close sectionCFM96600: Alternative calculation
- CFM96610: Alternative calculations: overview
- CFM96620: Alternative calculation: group-EBITDA (chargeable gains) election
- CFM96630: Alternative calculation: interest allowance (alternative calculation) election: overview
- CFM96640: Alternative calculations: interest allowance (alternative calculation) election: capitalised interest
- CFM96650: Alternative calculations: interest allowance (alternative calculation) election: employers' pension contributions
- CFM96655: Alternative calculations: interest allowance (alternative calculation) election: employee share acquisitions
- CFM96660: Alternative calculations: interest allowance (alternative calculation) election: changes in accounting policy
- Close sectionCFM96700: Joint ventures
- CFM96710: Joint ventures: overview
- CFM96720: Joint ventures: treatment when no elections apply
- CFM96760: Joint ventures: interest allowance (non consolidated investment) election
- CFM96820: Joint ventures: interest allowance (consolidated partnerships) election
- CFM96850: Joint ventures: group ratio (blended) election
- CFM96910: Joint ventures: qualifying infastructure company JV
- Close sectionCFM97100: Public infrastructure
- CFM97110: Public infrastructure: outline
- CFM97120: Public infrastructure: qualifying infrastructure activity
- CFM97130: Public infrastructure: public infrastructure asset
- CFM97140: Public infrastructure: public benefit test
- CFM97150: Public infrastructure: expected economic life
- CFM97160: Public infrastructure: group balance sheet test
- CFM97170: Public infrastructure: buildings within UK property business
- CFM97180: Public infrastructure: ancillary to, or facilitates, provision
- CFM97190: Public infrastructure: qualifying infrastructure company
- CFM97200: Public infrastructure: the income test
- CFM97210: Public infrastructure: the asset test
- CFM97220: Public infrastructure: fully taxed in the UK
- CFM97230: Public infrastructure: decommissioning and decommissioning funds
- CFM97240: Public infrastructure: the election
- CFM97250: Public infrastructure: elections for a transitional period
- CFM97260: Public infrastructure: joint elections modifying the effect of an election to be qualifying infrastructure company
- CFM97270: Public infrastructure: meaning of insignificant for members of a joint election
- CFM97280: Public infrastructure: one fails, all fail effect for members of a joint infrastructure election
- CFM97290: Public infrastructure: effect of section 435 election on anti-cycling provisions
- CFM97300: Public infrastructure: exemption for interest payable to third parties
- CFM97320: Public infrastructure: limited recourse of financial instruments
- CFM97330: Public infrastructure: guarantees, indemnities and financial assistance
- CFM97340: Public infrastructure: qualifying old loan relationship
- CFM97350: Public infrastructure: qualifying public receipts
- CFM97360: Public infrastructure: highly predictable
- CFM97370: Public infrastructure: ceasing to be a qualifying old loan relationship
- CFM97380: Public infrastructure: amounts to be ignored or treated as nil
- CFM97390: Public infrastructure: interaction with the ‘de minimis’ provisions
- CFM97400: Public infrastructure: interaction with the transitional provisions
- CFM97420: Public infrastructure: partnerships and transparent entities
- CFM97430: Public infrastructure: relevant public body
- Close sectionCFM97500: Interest restriction: Banking and insurance groups
- Close sectionCFM97600: Charities
- Close sectionCFM97700: Property and REITs
- CFM97710: Property and REITs: overview
- CFM97720: Property and REITs: allocation of disallowances
- CFM97730: Property and REITs: limit on property rental business (PRB) disallowance
- CFM97740: Property and REITs: disallowance to residual business
- CFM97750: Propertyand REITs: REITs and the interest restriction return
- CFM97760: Property and REITs: corporate non-resident landlords
- Close sectionCFM97800: Leasing
- Close sectionCFM97900: Special regimes
- Close sectionCFM98000: Anti-avoidance
- Close sectionCFM98200: Carry forward rules
- CFM98210: Carry forward rules: introduction
- CFM98220: Carry forward rules: terminology
- CFM98230: Carry forward rules: carry forward of interest disallowance
- CFM98240: Carry forward rules: use and time-expiry of brought forward interest allowance
- CFM98245: Carry forward rules: interest allowance and new ‘topco’
- CFM98250: Carry forward rules: excess debt cap
- CFM98255: Carry forward rules: excess debt cap and new ‘topco’
- Close sectionCFM98300: Commencement rules
- CFM98310: Commencement rules: introduction
- CFM98320: Commencement rules: straddling period of account
- CFM98330: Commencement rules: repeal of Worldwide Debt Cap
- CFM98350: Commencement rules: extended time limits
- CFM98360: Commencement rules: previous accounting and tax changes
- CFM98370: Commencement rules: group mismatches
- CFM98380: Commencement rules: power to make elections under the Disregards Regulations
- Close sectionCFM98400: Administration
- CFM99500: Glossary of Terms