You should compute interest and other profits and losses from
the partnership’s loan relationships in accordance with the
special rules of FA96. Profits and losses from certain foreign
exchange differences and financial instruments are computed in
accordance with the rules of FA93 and FA94 respectively. Guidance
on how these rules should be applied to partnerships and their
members is set out in SP4/98.
Where a corporate partner's accounting period commences on or
after 1 October 2002 guidance on how their debits and credits for
the purposes of FA96 (loan relationships, Forex and derivative
contracts) are to be calculated is be found at CFM5850 (loan
relationships/Forex) and CFM13660 (derivative contracts).
