[702 Tax-adjusted carrying value]
Corporation Tax Act 2009 (2009 c 4) | Legislation

Other general definitions

[702  Tax-adjusted carrying value]

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

(2)     “Tax-adjusted carrying value”, in relation to a contract, means the carrying value of the contract recognised for accounting purposes, except as provided by subsection (7).

(3)     For the purposes of this section the “carrying value” of the contract includes amounts recognised for accounting purposes in relation to the contract 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)

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