Corporation Tax: provisions
6. For the purposes of corporation tax, where in accordance with generally accepted accounting practice a provision has been recognised in the accounts of BRB Residuary in relation to property, rights or liabilities transferred by a relevant transfer to LCR or the Secretary of State for Transport—
(a)in computing the profits of BRB Residuary, no amount is brought into account in respect of the removal or adjustment of that provision in the accounts as a consequence of the relevant transfer, and
(b)in computing the profits of LCR, no amount is brought into account in respect of a provision recognised in the accounts of LCR in accordance with generally accepted accounting practice in relation to the property, rights or liabilities transferred by the relevant transfer to the extent that an amount has been brought into account as a debit in computing the profits of BRB Residuary in any accounting period in respect of a liability or charge transferred by the relevant transfer.