The Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) (Amendment) Regulations, SI 2013/2871, come into force on 21 November 2013. These amending regulations extend the matching provisions to ensure banks’ and investment firms’ additional tier-one regulatory capital instruments and building societies’ deferred shares are accounted for as equity instruments in accordance with generally accepted accounting practice and remain effective for tax purposes as part of hedging arrangements.
The Loan Relationships and Derivative Contracts (Disregard and Bringing into Account of Profits and Losses) (Amendment) Regulations, SI 2013/2871, come into force on 21 November 2013. These amending regulations extend the matching provisions to ensure banks’ and investment firms’ additional tier-one regulatory capital instruments and building societies’ deferred shares are accounted for as equity instruments in accordance with generally accepted accounting practice and remain effective for tax purposes as part of hedging arrangements.
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