Meaning of “adjustments”
54(1)In this Schedule “adjustments” means any adjustments, whether by way of an assessment, the modification of an assessment or return, amendment or disallowance of a claim, a payment, the entering into of a contract settlement, or otherwise (and references to “making” adjustments accordingly include securing that adjustments are made by entering into a contract settlement).
(2)“Adjustments” also includes a payment in respect of a liability to pay national insurance contributions.