Part 8Intangible fixed assets

Chapter 15Adjustments on change of accounting policy

Supplementary

878Exclusion of credits or debits brought into account under other provisions

1

A credit or debit is not required to be brought into account under this Chapter so far as a credit or debit representing the accounting difference in question is brought into account for tax purposes under a provision specified in subsection (2).

2

Those provisions are—

a

section 723 (revaluation),

b

section 725 (reversal of previous accounting loss), or

c

section 732 (reversal of previous accounting gain).