Corporation Tax Act 2009

310 Power to make regulations about recognised amounts

(1) The Treasury may by regulations—

(a) make provision excluding from section 308(1) or (2) amounts of a specified description, and

(b) make provision for or in connection with bringing into account in specified circumstances amounts in relation to which section 308(1) or (2) does not have effect as a result of regulations under paragraph (a).

(2) The regulations may provide that section 308(1) or (2) does not apply to specified amounts in a period of account so far as they derive from or otherwise relate to amounts brought into account in a specified way in a previous period of account.

(3) The regulations may—

(a) make different provision for different cases, and

(b) make provision subject to an election or to other specified conditions.

(4) The regulations may apply to periods of account beginning before they are made, but not earlier than the beginning of the calendar year in which they are made.

(5) The power to make regulations under this section does not apply to exchange gains or losses (but see section 328(4) to (7)).