CFM - Recent changes to this Manual

Below are details of the amendments that were published on 10 January 2006 (see the update index for all updates).

SectionTitle and details of the update
CFM800Glossary updated.
CFM900Contact details updated.
CFM4000+Metadata has been updated for this entire chapter.
Individual changes below.
CFM4000 ‘Accounting for loan relationships home page.’
New text Introduction of IAS and commencement date.
Contents list moved to CFM4050
CFM4050 ‘Accounting guidance for lenders and borrowers’
New page with Contents list
CFM4100 and 4102New titles ‘Lenders introduction’ and ‘Lenders accounting standards’
CFM4102aNew page was previously pop-up – banking and insurance companies.
CFM4106 to CFM4114New titles
‘Lenders accrual of balance sheet assets’
‘Accrual of discounted loans’
‘Accrual of purchased debt’
‘Accrual and recognition of impaired debt’
‘Accrual and writing down/off bad debt’
CFM4116New title ‘Accrual accounting’ and some text deleted including contents list.
CFM4118New title ‘Accrual accounting and expenses’ and some re-formatting of table
CFM4120New title ‘ accrual accounting and fixed rate loans’
CFM4120aNew page was previously pop-up – fixed rate loans example.
CFM4122New title ‘accrual accounting and variable rate loans’
CFM4122aNew page was previously pop-up – variable rate loans example
CFM4124New title ‘accrual accounting and discounted securitie’'
CFM4124aNew page was previously pop-up – discounted securities example
CFM4126New title ‘accrual accounting and convertible securities’
CFM4152-CFM4154New titles ‘mark to market of balance sheet assets’
‘mark to market and the profit and loss accoun’'
CFM4154aNew page was previously pop-up – mark to market valuations example
CFM4160Deleted – contents lists elsewhere in CFM
CFM4156Re-numbered (was CFM4160) and title changed ‘mark to market and fixed rate loans’.
CFM4156aNew page was previously pop-up – fixed rate loans and mark to market example
CFM4158Re-numbered (was CFM4166) and title changed ‘mark to market and variable rate loans’
CFM4158aNew page was previously pop-up - variable rate loans and mark to market example
CFM4160Re-numbered (was CFM4168) and title changed ‘mark to market accounting and discounted securities’
CFM4160aNew page was previously pop-up – discounted securities and mark to market example
CFM4162Re-numbered (was CFM4170) and title changed ‘mark to market and convertibles’
CFM4200Accounting guidance for borrowers
New title and note that this chapter only applies pre 1/1/2005.
CFM4205New title ‘borrowers: accounting standards’
CFM4205aNew page was previously pop-up – borrowers: FRS4
CFM4210 to CFM4218New titles
‘borrowers: accruals accounting’
‘borrowers: accrual of liabilities’
‘borrowers: accrual of variable rate loan’'
‘borrowers: accrual of fixed rate loans’
‘borrowers: accrual of discounted securities’'
CFM4220New title ‘borrowers: accrual of convertibles and hyperlinks deleted as examples incorporated in CFM4222.
CFM4222New page ‘borrowers convertibles examples’.
CFM5000Contents updated for new chapters on alternative finance, shares as debt and money debts
CFM5800Now a contents page..
CFM5805aNew page introducing treatment of groups under loan realtionships.
CFM5802New title ‘ one party replaces another’.
CFM5802aNew page (was a pop-up) examples of a related transaction..
CFM5802bNew page (was a pop-up) example of a series of transactions.
CFM5803New title ‘equivalent rights and obligations’.
New paragraph on novation of liabilities.
CFM5803aNew page (was a pop-up) example of equivalent rights.
CFM5804New page ‘effect of para 12’.
Advises on transfers before 16 March 2005.
CFM5804aNew page example of effect of para 12.
CFM5805Old text deleted and page re-titled ‘transfers after 16 March 2005’.
New text advises on transfers after 16 March 2005.
CFM5805aNew page example of effect of para 12 on or after 16 March 2005.
CFM5806Title changes to ‘transfers of connected party debt’.
New paragraph on transfers on or after 16 March 2005.
CFM5806aNew page (was a pop-up).
Transfer of connected party debt example before 16 March 2005.
CFM5806bNew page.
Transfer of connected party debt example on or after 16 March 2005.
CFM5807Title changes to ‘fair value accounting’.
New paragraph added to section titled ‘Transfers before 16 March 2005.
New section titled ‘Transfers on or after 16 March 2005’.
CFM5808New page ‘transfer pricing’.
Advises on interaction of para 12 and transfer pricing.
CFM5810New page ‘companies leaving groups’.
Discusses effect on para 12 on a company leaving a group.
CFM5812New page ‘de-grouping charge’
Para 12A operative rule explained..
CFM5814New page ‘conditions for para 12’.
Explains the conditions for the operative rule to apply.
CFM5816New page ‘exempt distributions’.
Describes the exemption for exempt distributions.
CFM5850+Metadata has been updated for this entire chapter.
Individual changes below.
CFM5850Now a contents page.
Text moved to CFM5851.
CFM5851Text previously on CFM5850.
Minor deletions (old contents table).
CFM5855Title change ‘lending and borrowing’.
CFM5857Title change ‘effect of para 19’.
Hyperlink CFM5056 now CFM5054.
CFM5859Title changed ‘computing debits and credits’.
New text on repeal of para 19(10) for accounting periods beginning on or after 1 January 2005.
CFM5859aNew page (was a pop-up).
CFM5860a and CFM5860bNew pages (were a pop-ups).
CFM5865Team name change to FIT.
CFM5867Title change ‘loan relationship position’.
CFM5867aNew page (was a pop-up).
CFM5870aNew page (was a pop-up).
CFM5872New title ‘tax consequences of connection’.
Minor text amendments for IAS.
CFM5875New title ‘types of connection’.
CFM5877Minor text changes for periods beginning before 1 January 2005.
CFM5879New title ‘connection for company partners’.
CFM5879aNew page (was a pop-up).
CFM5881New title ‘connection through participation’.
CFM5881a and CFM5881bNew pages (were pop-ups).
CFM5882New page titled ‘participation – periods ending on or after 10 December 2003’
Describes the changes for connection and collective investment schemes – FA2004
CFM5883aNew page (was a pop-up).
CFM5900New title ‘contents’.
Previous text and short contents list replaced with full contents list for asset linked securities section
CFM5910New title ‘introduction’.
Short contents list deleted.
CFM5916Title changed ‘definitions’.
CFM5916a and CFM5916bNew pages (were pop-ups).
CFM5917Title changed ‘calculating the relevant percentage change’.
CFM5917aNew page (was a pop-up).
CFM5918Title changed ‘issue price and redemption amount’
CFM5919Title change ‘changing the index or chargeable asset’.
Team name changed to FIT.
CFM5920aNew page (was a pop-up).
CFM5926 and CFM5927Titles changed:
‘when S93A applies’;
‘guaranteed return definitions’.
CFM5927aNew page (was a pop-up).
CFM5931 and CFM5932Titles changed:
‘consequences of ceasing to be in S93’;
‘tax effect of ceasing to be within S93’.
CFM5932aNew page (was a pop-up).
CFM5940New title ‘contents’
Old text moved to CFM5041, new text is a contents list for section.
CFM5941New title ‘introduction’
Text was previously in CFM5940.
Short contents list deleted.
CFM5941aNew page (was a pop-up).
CFM5942Re-numbered - was previously CFM5941.
CFM5943Re-numbered - was previously CFM5942.
CFM5944Re-numbered - was previously CFM5943.
New title ‘adjusting indexed gilt for the RPI'
CFM5944bNew page (was a pop-up) and re-numbered was CFM5943b.
CFM5950New title ‘gilt strips’.
CFM5950aNew page (was a pop-up).
CFM5951New title ‘taxing gilt strips’.
CFM5951a and CFM5951bNew pages (were pop-ups).
CFM6050New chapter on alternative finance, pages number CFM6050 – CFM6062.
CFM6100Previous text moved to CFM6101 and full contents list inserted. Title changed accordingly.
CFM6101Was previously CFM6100.
Old contents list deleted.
CFM6102New title ‘overview of treatment’.
CFM6102a and CFM6105aNew pages (were pop-ups).
CFM6111, CFM6112 and CFM6121Titles changed:
‘connection commencing and ceasing’;
‘connection transitionals’;
‘option to purchase shares’.
CFM6121aNew page (was a pop-up).
CFM6122Title changed ‘likelihood of conversion’.
CFM6122aNew page (was a pop-up).
CFM6123 and CFM6124Titles changed:
‘meaning of pre-determined value’;
‘security wholly replaced by shares’.
CFM6124aNew page (was a pop-up).
CFM6130 and CFM6131Titles changed:
‘types of share’;
’definition of qualifying ordinary shares’.
CFM6131a and CFM6131bNew pages (were pop-ups).
CFM6142New title ‘identifying the security’.
CFM6142aNew page (was a pop-up).
CFM6143New title ‘premium put arrangement’'.
CFM6143a and CFM6150aNew pages (were pop-ups).
CFM6151New title ‘selling and purchasing securities’.
CFM6151aNew page (was a pop-up).
CFM6161New title ‘tax consequences of ceasing to qualify’.
CFM6161bNew page (was a pop-up).
CFM6171 and CFM6172New titles:
‘S92A securities’;
‘effect of S92A’.
CFM6173a and CFM6173bNew pages (were pop-ups).
CFM6200New title ‘transactions not at arm’s length: contents’
Contents list revised and some text deleted.
CFM6202New title ‘introduction’ and some minor text changes to refer to Sch 28AA.
CFM6202bNew page (was a pop-up).
CFM6203 and CFM6204New titles:
‘setting up a loan relationship’;
‘loan relationship acquired at less than market value’.
CFM6204aNew page (was a pop-up).
CFM6205New page on the interaction of Sch28AA and FA96.
CFM6206New title ‘group’'.
New paragraph for related transactions in-groups on or after 16 March 2005.
CFM6210New title ‘introduction and contents’.
SIS reference change to ‘Anti-avoidance Group (Investigation).
New contents list.
CFM6211, CFM6212, CFM6214 and CFM6215New titles:
‘application of para 13’;
‘definitions’;
‘activities not within the CT charge’;
’tax avoidance purpose’.
CFM6215aNew page (was a pop-up).
CFM6216New title ‘para 13 application’.
CFM6216aNew page (was a pop-up).
CFM6222New title ‘transactions not normally within para 13’.
CFM6224New title ‘transactions normally within para 13’.
CFM6228New title ‘sources of advice’.
CFM6250New title ‘introduction and contents’.
Minor text changes team name changed to CT&VAT FIT.
Expanded contents table for reset bonds.
CFM6252, CFM6253 and CFM6254New titles:
‘definitions’;
’types of schemes’
‘mirror bonds’.
CFM6254aNew page (was a pop-up).
CFM6256, CFM6260 and CFM6262New titles:
‘changes of ownership’
‘S88A conditions’;
’S88A effect’.
CFM6262aNew page (was a pop-up).
CFM6263New title ‘S88A commencement date’.
CFM6300New title ‘introduction and contents’.
New Contents list
CFM6302, CFM6304, CFM6306, and CFM6308New titles:
‘application of para 10’;
’meaning of not subject to UK taxation’;.
‘disallowing the loss’;
’buying losses’.
CFM6320 – CFM6388New chapter on the anti-avoidance provisions introduced in FA (No.2) 05 on a variety of avoidance schemes using shares as debt.
CFM6400 -CFM6430New chapter on the provisions introduced in FA (No.2) )5 on the taxation under loan relationships of discounts and related transactions in money debt.

Home|Main Contents|Manual Contents

Top