12(1)If it appears to the Treasury that there has been a change in the value of money since the last relevant date, they may by regulations substitute for the sums for the time being specified in paragraphs 4, 5 and 7 such other sums as appear to them to be justified by the change.U.K.
(2)In sub-paragraph (1), in relation to a specified sum, “relevant date” means—
(a)the date on which this Act is passed, and
(b)in relation to that sum, each date on which the power conferred by that sub-paragraph has been exercised.
(3)Regulations under this paragraph do not apply to—
(a)a failure that occurs in respect of a financial year of a company that begins before the date on which they come into force, or
(b)an inaccuracy in a certificate that was provided to HMRC in respect of such a financial year.