- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (31/12/2005)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 01/04/2009
Point in time view as at 31/12/2005. This version of this provision has been superseded.
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[F1116F(1)The amount of any credit to be brought into account for tax purposes under paragraph 116B or 116C (assets subject to writing down on accounting basis) is limited to the net aggregate amount of relevant tax debits previously brought into account.
(2)Where the credit is to be brought into account under paragraph 116B (change of value), the net aggregate amount of relevant tax debits previously brought into account is:
Previous Debits - Previous Credits
where—
Previous Debits is the total amount of debits previously brought into account for tax purposes in respect of the asset, and
Previous Credits is the total amount of credits previously brought into account for tax purposes in respect of the asset.
(3)Where the credit is to be brought into account under paragraph 116C (disaggregation), the net aggregate amount of relevant tax debits previously brought into account is:
Previous Debits - Previous Credits
where—
Previous Debits is the total amount of debits previously brought into account for tax purposes in respect of the original asset at the end of the earlier period, and
Previous Credits is the total amount of credits previously brought into account for tax purposes in respect of that asset.]
Textual Amendments
F1Sch. 29 Pt. 13A substituted for Sch. 29 para. 116A (7.4.2005) by Finance Act 2005 (c. 7), Sch. 4 para. 45
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