Sterling equivalent if amount carried back to pre-commencement accounting periodU.K.
8(1)This paragraph applies where—U.K.
(a)a loss of a company (“the loss”) is required by section 92B or 92C of FA 1993 to be translated from a currency other than sterling into its sterling equivalent,
(b)the translation is for the purpose of computing a loss arising in an accounting period beginning on or after the commencement date, and
(c)the loss is to be a carried-back amount that is to be carried back to an accounting period beginning before the commencement date.
(2)Section 92DA of FA 1993 does not have effect in relation to the loss.
(3)The translation must be made by reference to the appropriate exchange rate.