Related Commentary  

262(1)  An amount by way of adjustment must be calculated in accordance with section 182, which applies in relation to a UK property business as it applies in relation to a trade.

262(2)  If the amount produced by the calculation is positive–

(a)the amount is brought into account as a receipt in calculating the profits of the UK property business, and

(b)the receipt is treated as arising on the first day of the first period of account for which the new basis is adopted.

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