Part 2

Trading income
Chapter 17

Adjustment income

Adjustment on change of basis

Income charged
229
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
sections 237 to 239B (which provide for spreading of adjustment income), and
b
Part 8 (foreign income: special rules).
Words 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)