http://www.legislation.gov.uk/ukpga/2005/5/section/234Income Tax (Trading and Other Income) Act 2005An Act to restate, with minor changes, certain enactments relating to income tax on trading income, property income, savings and investment income and certain other income; and for connected purposes.texttext/xmlenStatute Law Database2026-07-30Expert Participation2026-07-15 Part 2Trading incomeChapter 17Adjustment income<Emphasis>Expenses previously brought into account</Emphasis>No adjustment for certain expenses previously brought into account2341This section applies if, as a result of a change of basis, expenses brought into account before the change on the old basis would on the new basis be brought into account over more than one period of account after the change.2In such a case—ano adjustment is made under this Chapter, andbin calculating the profits of the trade no deduction is allowed for the expenses for any period of account after the change.