Reviewed by
JOHN LINDSAY, BA, FCA, FTII
Consultant, Linklaters
For updates affecting this Division please see Part D0 Updates
Currency for calculating taxable profits
D4.202 Currency for calculating a company's taxable profits—overview
The profits and losses of a company that carries on a business must be computed and expressed in sterling except where certain conditions are satisfied, in which case they are to be computed in the currency in which the company's accounts are drawn up. There is no provision for the company to make an election to use a currency other than sterling1.
Currency—the basic rule
The
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