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Contents

Official guidance
Business Income Manual

BIM39500 · Foreign exchange

  • BIM39501 · Introduction
  • BIM39505 · Rates of exchange
  • BIM39510 · Exchange rate for accounts purposes
  • BIM39515 · Exchange rate for tax purposes
  • BIM39520 · Monetary assets and liabilities: general principles
  • BIM39525 · Gains or losses: on monetary liabilities
  • BIM39530 · Gains or losses: capital or revenue: terms of borrowing
  • BIM39535 · Gains or losses: capital or revenue: use of money
  • BIM39540 · Gains or losses: capital or revenue: summary
  • BIM39545 · Monetary assets
  • BIM39550 · Monetary assets: practical approach
  • BIM39555 · Matched assets and liabilities
  • BIM39560 · 'Marine Midland matching’
  • BIM39565 · Business uses the ‘offset method’
  • BIM39570 · Currency contracts
  • BIM39575 · Capital gains interactions
  • BIM39580 · Foreign currency accounts
  1. Foreign exchange: contents
  2. Foreign exchange: business uses the ‘offset method’

BIM39565 | Foreign exchange: business uses the ‘offset method’

From HM Revenue & Customs · Business Income Manual

The ‘offset’ or ‘cover’ method applies to companies which have adopted SSAP 20 Foreign Currency Translation under old UK GAAP. Its use is subject to certain conditions, which are discussed at CFM26130.

See CFM26140 for an example of the use of this method.

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