Finance Act 2002

Giving effect to positive adjustment U.K.

[F1 4 If the amount of the adjustment is positive, it is chargeable to corporation tax and is treated as receipt of the trade, profession or vocation arising on the [F2 first day] of the first period of account for which the new basis is adopted.]

Textual Amendments

F1 Sch. 22 para. 4 substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 578(4) (with Sch. 2)

F2 Words in Sch. 22 para. 4 substituted (with effect in accordance with Sch. 6 para. 1(2) of the amending Act) by Finance (No. 2) Act 2005 (c. 22), Sch. 6 para. 1(1)