Part 3

Trading income
Chapter 14

Adjustment on change of basis

Expenses previously brought into account

No adjustment for certain expenses previously brought into account
183
1
This 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.
2
In such a case—
a
no adjustment is made under this Chapter, and
b
in calculating the profits of the trade no deduction is allowed for the expenses for any period of account after the change.
Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)