xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"
Modifications etc. (not altering text)
C1Sch. 29 applied (with modifications) (15.8.2002) by S.I. 2002/1967, regs. 3-6
C2Sch. 29 modified (5.10.2004) by Energy Act 2004 (c. 20), s. 198(2), Sch. 9 para. 28 (with s. 38(2)); S.I. 2004/2575, art. 2(1), Sch. 1
31Credits and debits to be brought into account in any accounting period in respect of an asset held by the company for the purposes of a trade carried on by it in that period are given effect by treating—
(a)credits as receipts of the trade, and
(b)debits as expenses of the trade,
in calculating the profits of the trade for tax purposes.