316Change of accounting policy involving change of valueU.K.
(1)If there is an increase in the carrying value of an asset representing a loan relationship of the company between—
(a)the end of the earlier period, and
(b)the beginning of the later period,
a credit equal to the increase must be brought into account for the purposes of this Part for the later period.
(2)If there is a decrease in the carrying value of such an asset between—
(a)the end of the earlier period, and
(b)the beginning of the later period,
a debit equal to the decrease must be brought into account for the purposes of this Part for the later period.
(3)If there is an increase in the carrying value of a liability representing a loan relationship of the company between—
(a)the end of the earlier period, and
(b)the beginning of the later period,
a debit equal to the increase must be brought into account for the purposes of this Part for the later period.
(4)If there is a decrease in the carrying value of such a liability between—
(a)the end of the earlier period, and
(b)the beginning of the later period,
a credit equal to the decrease must be brought into account for the purposes of this Part for the later period.
(5)This section does not apply so far as such a credit or debit as is mentioned in this section falls to be brought into account apart from this section.