Section 546: Section 543(1)(f): tax year in which certain expenditure treated as incurred
1645.This section specifies the tax year to which expenditure relating to commitments (whether or not contractual in nature) that have been entered into is to be allocated for the purpose of operating the restrictions. It is based on section 506(2) of ICTA.
1646.This rule has been rewritten in terms which make explicit reference to United Kingdom generally accepted accounting practice. See Change 99 in Annex 1.