Related Commentary  Related HMRC Manuals

732(1)  This section applies if–

(a)in a period of account a loss is recognised in determining a company's profit or loss (“the recognised loss”),

(b)the loss wholly or partly reverses a gain recognised in a previous period of account (“the reversed gain”), and

(c)a credit was brought into account for tax purposes under Chapter 2 (credits in respect of intangible fixed assets) in respect of that gain (“the previous credit”).

732(2)  A corresponding debit must be brought into account for tax purposes.

732(3)  The amount of that debit is–

RL × PC
RG

where–

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