Corporation Tax Act 2009 (c. 4)

Part 8 U.K. Intangible fixed assets

Chapter 15 U.K. Adjustments on change of accounting policy

Supplementary U.K.

878 Exclusion of credits or debits brought into account under other provisions U.K.

(1) A credit or debit is not required to be brought into account under this Chapter so far as a credit or debit representing the accounting difference in question is brought into account for tax purposes under a provision specified in subsection (2).

(2) Those provisions are—

(a) section 723 (revaluation),

(b) section 725 (reversal of previous accounting loss), or

(c) section 732 (reversal of previous accounting gain).

879 Subsequent events affecting asset subject to adjustment under this Chapter U.K.

(1) On a further change of accounting policy affecting an intangible fixed asset in relation to which this Chapter has applied, the previous provisions of this Chapter apply again.

(2) On a subsequent part realisation affecting the asset in question, section 744 (effect of part realisation of asset) applies.