New Corporate Finance Manual goes live

A new Corporate Finance Manual (CFM) has replaced the previous CFM and Banking Manual in the Library. The new CFM incorporates the rewritten legislation on loan relationships and derivative contracts in the Corporation Tax Act 2009. The content of the new CFM is largely the same as that of the old manual but has been updated in some places and is arranged slightly differently.

CFM10000+ sets out the commercial background to corporate finance.

CFM20000+ covers the accounting treatment of corporate finance.

CFM30000 to CFM80000 contains updated guidance on the corporation tax rules on loan relationships, derivative contracts, foreign exchange and other aspects of corporate finance, designed to broadly follow the structure of the Corporation Tax Act 2009. Guidance on the new debt cap rules will be added in due course.

CFM1160 and CFM1170 provide a conversion table that briefly sets out how the former guidance within the old CFM and the Banking Manual has been rearranged in the new CFM.

If you have any comments on the new CFM, please contact Adeline Chan.