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Introduction to the Corporate Finance Manual

The Corporate Finance Manual is a comprehensive resource for anyone applying corporate finance legislation following FA 2002. For cases where the earlier rules apply, please refer to the Company Taxation Manual at CT12000 onwards.

Guidance

The guidance covers loan relationships, foreign exchange (FOREX) and derivative contracts. Each subject is considered from three different angles: business understanding, accountancy treatment and taxation. Loan relationships and derivative contracts aspects of collective investment schemes are dealt with separately. Further chapters deal with:

• An introduction to accounting for financial instruments under IAS 39 and IAS 32
• The tax consequences of first-time adoption of IAS 39 or FRS 26
• Commercial background to, and taxation of, repos and stock loans
• Other provisions relevant to corporate finance.

The legislation covered in the last two bullet points applies for income tax as well as corporation tax purposes, but is more likely to be encountered in the context of companies.

Contents

Getting around

You can find your way around the guidance using the search tools and the menu bar. There is more information on the navigation page.

Links

The left-hand frame gives you access to the legislation as introduced or amended by FA 2002, including amendments made by subsequent Finance Acts.

If jargon puzzles you at any time, click on glossary for definitions of financial terms.

Click on resources for details of

• how to contact the technical experts at CT & VAT (Financial and Insurance)
• links to useful intranet sites, such as that of the Revenue Accountants
• links to useful external sites, giving LIBOR rates
• learning modules (post FA 2002 and pre FA 2002).

Feedback

We would like your comments on this guidance.

Please send any technical feedback to Lesley Hamilton at CT&VAT Products and Processes.