Commentary on Sections Overview Chapter 4: Further provision about credits and debits to be brought into account Section 621: Company partners using fair value accounting
1700.This section applies fair value accounting, in determining under section 620 the company partner’s share of the credits and debits arising in respect of the firm’s derivative contracts, if that company partner uses fair value accounting in relation to its interest in the firm. It is based on paragraph 50 of Schedule 26 to FA 2002.