Giving effect to negative adjustmentU.K.
5(1)If the amount of the adjustment is negative, it is allowed as a deduction in computing profits.
(2)An amount so allowed as a deduction in computing profits is treated as an expense of the trade, profession or vocation arising on the [F1first day] of the first period of account for which the new basis is adopted.
Textual Amendments
F1Words in Sch. 22 para. 5(2) substituted (with effect in accordance with s. 81(3) of the amending Act) by Finance Act 2005 (c. 7), s. 81(2)