Corporation Tax Act 2009 section 606D

Counterfactual currency movement assumptions

Section 606D established the assumptions to be made about currency movements when calculating a counterfactual scenario, but this section has been removed from the legislation.

• Section 606D was part of a group of provisions (sections 606A to 606H) dealing with counterfactual currency movement assumptions
• All of these sections were removed from the Corporation Tax Act 2009 by the Finance (No. 2) Act 2015
• The removal took effect for accounting periods beginning on or after 1 January 2016
• Any accounting periods that started before 1 January 2016 would still have been governed by the old rules