[465B “Tax-adjusted carrying value”]
Corporation Tax Act 2009 (2009 c 4) | Legislation

[Tax-adjusted carrying value]

[465B  “Tax-adjusted carrying value”]

[(1)     This section applies for the purposes of this Part.

(2)     “Tax-adjusted carrying value”, in relation to the asset or liability representing a loan relationship, means the carrying value of the asset or liability recognised for accounting purposes, except as provided by subsection (8).

(3)     For the purposes of this section the “carrying value” of the asset or liability includes amounts recognised for accounting purposes in relation to the loan relationship in respect of—

(a)     accrued amounts,

(b)     amounts paid or received in advance, or

(c)     impairment losses (including provisions for bad or doubtful debts).

(4)     For the meaning of “impairment loss” see section 476(1).

(5)     In determining the tax-adjusted carrying value of an asset or liability in a period of account of a

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Reversionary lease by reference

 LR1. Date of the lease[date]LR2. Title Number(s)LR2.1 Landlord's title number(s)[title numbers out of which this Lease is granted. Leave blank if not registered]LR2.2 Other title numbers[existing title number(s) against which entries of matters referred to in LR9, LR10, LR11 and LR13 are to be

LEXISNEXIS

Financial Conduct Authority—Principles for Businesses (PRIN)

Financial Conduct Authority—Principles for Businesses (PRIN)This Practice Note explains the Principles for Businesses (PRIN) set down by the Financial Conduct Authority (FCA). The Principles form part of the FCA’s High Level Standards set out in the FCA’s Handbook. The Principles are a general

LEXISNEXIS

Escrow accounts and escrow agreements

Escrow accounts and escrow agreementsThis Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions

LEXISNEXIS

Rescission of a contract

Rescission of a contractWhat is rescission of a contract?The remedy of rescission is available to a party whose consent, in entering into a contract, has been invalidated in some way:•the effect of rescinding a contract is to extinguish it and restore the parties to their pre-contractual