Finance Act 2005 (c. 7)

Part 2 U.K. Income tax, corporation tax and capital gains tax

Chapter 8 U.K. Accounting practice and related matters

80 Accounting practice and related matters U.K.

(1) Schedule 4 (accounting practice and related matters) has effect.

(2) In that Schedule—

• Part 1 makes provision about bad debts and related matters;

• Part 2 makes other provision connected with accounting practice.

(3) Part 1 of the Schedule, so far as it amends provisions that have effect both for income tax and corporation tax, has effect for the purposes of corporation tax only.

(4) Except as otherwise provided, the provisions of the Schedule have effect for periods of account beginning on or after 1st January 2005.