(1)Tax is charged under this Chapter on the full amount of any adjustment income arising in the tax year.
(2)This is subject to—
(a)[F1sections 237 to 239B] (which provide for spreading of adjustment income), and
(b)Part 8 (foreign income: special rules).
Textual Amendments
F1Words in s. 229(2)(a) substituted (with effect in accordance with Sch. 4 paras. 56, 57 of the amending Act) by Finance Act 2013 (c. 29), Sch. 4 para. 52(2)