The Exchange Gains and Losses (Bringing into Account Gains or Losses) Regulations 2002
Following the repeal of paragraph 4 of Schedule 9 to the Finance Act 1996 (c. 8) (and, in consequence, sections 125 to 169 of the Finance Act 1993 (c. 34)) by section 79(1) of the Finance Act 2002 (c. 23), the tax treatment of exchange gains and losses will be governed by the provisions relating to loan relationships in Chapter 2 of Part 4 of the Finance Act 1996 and derivative contracts in Schedule 26 to the Finance Act 2002.