CFM46210 - Deemed loan relationships: repos: tax rules: definitions
Definitions
The rules in CTA09/PT6/CH10 identify four types of repo transactions
- creditor repos (CFM46230)
- creditor quasi-repos (CFM46240)
- debtor repos (CFM46350)
- debtor quasi-repos (CFM46360).
As repos are deemed to be loan relationships, terms used in the rules in CTA09/PT5 apply to repos. In addition, there are a number of general provisions and definitions for the repo rules set out at CTA09/S552 to S559.
Securities
바카라 사이트˜Securities means shares, stock or securities issued by the UK 바카라 사이트, or UK public or local authorities, UK companies, or overseas securities. Securities are 바카라 사이트˜similar바카라 사이트™ if they entitle their holders to the same rights against the same persons as to capital, interest and dividends, and to the same remedies for the enforcement of those rights.
UK GAAP
If accounts have not been drawn up in accordance with GAAP, the requirement in CTA09/S309 provides that they will be treated as if they had been.
An amount is 바카라 사이트˜recognised in determining a company바카라 사이트™s profit or loss바카라 사이트™ if it is recognised for accounting purposes:
- in its profit and loss account or income statement;
- in its statement of recognised gains and losses or statement of changes in equity; or
- in any other statement of items brought into account in calculating its profits and losses.