BKLM373000 | Chargeable equity and liabilities: relevant foreign banks: attribution of chargeable equity and liabilities to a branch: determining the chargeable equity and liabilities of a relevant foreign bank

Paragraph 24 of Schedule 19

The starting point for determining the assets and the chargeable equity and liabilities of the relevant foreign bank are the amounts that would have been recognised in the entity’s accounts had accounts been prepared under IAS or for chargeable periods ending prior to 1 January 2021 UK GAAP.

If the assets and equity and liabilities have been determined under any other accounting framework, adjustments will be firstly needed to bring the amounts that are recognised in line with those that would have been recognised under IAS or for chargeable periods ending prior to 1 January 2021 UK GAAP.