Adjustment expense

Generally

Legislation/Regulatory – ITTOIA2005 s. 231, 233
HMRC Guidance – BIM34130 ; BIM70071 ; BIM70095

Meaning

Legislation/Regulatory – ITTOIA2005 s. 228
HMRC Guidance – BIM34095

Previously brought into account

Legislation/Regulatory – ITTOIA2005 s. 234
HMRC Guidance – BIM34105

Realising or writing off assets

Legislation/Regulatory – ITTOIA2005 s. 235
HMRC Guidance – BIM34110

Adjustment income

Calculation of adjustment

Legislation/Regulatory – ITTOIA2005 s. 231

Charge to tax

Legislation/Regulatory – ITTOIA2005 s. 229

Circumstances in which an adjustment may arise

Legislation/Regulatory – FA2012 s. 54 ; ITTOIA2005 s. 227
HMRC Guidance – BIM34050 ; BIM34070 ; BIM34135

Deductions

Legislation/Regulatory – ITTOIA2005 s. 231

Depreciation

Legislation/Regulatory – ITTOIA2005 s. 231

Earned income

Legislation/Regulatory – ITTOIA2005 s. 232(4)

Loss relief

Legislation/Regulatory – ITTOIA2005 s. 232(3)

Mark to market

Legislation/Regulatory – ITTOIA2005 s. 236, 237
HMRC Guidance – BIM34115 ; BIM34120

Meaning

Legislation/Regulatory – ITTOIA2005 s. 228

Person liable for tax

Legislation/Regulatory – ITTOIA2005 s. 230

Personal representatives

Legislation/Regulatory – ITTOIA2005 s. 240
HMRC Guidance – BIM34095

Property businesses

– see Property income

Realising or writing off assets

Legislation/Regulatory – ITTOIA2005 s. 235

Spreading adjustment

Legislation/Regulatory – FA2006 Sch. 15

Valuing stock or work in progress

Legislation/Regulatory – ITTOIA2005 s. 231

When arising

Legislation/Regulatory – ITTOIA2005 s. 232
HMRC Guidance – BIM34095 ; BIM70095

Adjustment on

Calculation of

Commentary – Tax Reporter ¶206-100 ; Tax Reporter ¶707-150
Legislation/Regulatory – CTA2009 s. 182
HMRC Guidance – BIM34130

Deferred revenue expenditure

Commentary – Tax Reporter ¶206-100 ; Tax Reporter ¶707-150

Derivative contracts

Legislation/Regulatory – CTA2009 s. 612-615
HMRC Guidance – CFM76050

Expenses previously brought into account

Legislation/Regulatory – CTA2009 s. 183
HMRC Guidance – BIM34105 ; CIRD99150 ; CIRD99200 ; CIRD99400

Generally

Legislation/Regulatory – CTA2009 s. 180, Sch. 2, para. 34 ; FA2012 s. 54(2)
HMRC Guidance – BIM34005 ; BIM34050 ; BIM34070 ; BIM34135 ; CIRD99400

Giving effect to

Commentary – Tax Reporter ¶206-100 ; Tax Reporter ¶707-150 ; Tax Reporter ¶711-150

Giving effect to positive and negative adjustments

Legislation/Regulatory – CTA2009 s. 181
HMRC Guidance – BIM34095 ; CIRD220120

Intangible fixed assets

Commentary – Tax Reporter ¶723-400 ; Tax Reporter ¶723-450

Leaving the cash basis

Commentary – Tax Reporter ¶206-225 ; Tax Reporter ¶290-500

Loan relationships

Legislation/Regulatory – CTA2009 s. 315-319
HMRC Guidance – CFM33140 ; CFM37680 ; CFM37700 ; CFM52030

Mark to market, change from realisation basis

Legislation/Regulatory – CTA2009 s. 185, 186
HMRC Guidance – BIM34115 ; BIM34120

Property income

Legislation/Regulatory – CTA2009 s. 261, 262, Sch. 2, para. 51

Realising or writing off assets

Legislation/Regulatory – CTA2009 s. 184
HMRC Guidance – BIM33470 ; BIM34110

Realising/writing off assets

Commentary – Tax Reporter ¶206-100 ; Tax Reporter ¶707-150

Transfer of insurance business

Legislation/Regulatory – CTA2009 s. 187

Barristers and advocates

Cash basis for small businesses

Commentary – Tax Reporter ¶205-000 ; Tax Reporter ¶206-200 ; Tax Reporter ¶206-481
HMRC Guidance – BIM70000

Generally

Commentary – Tax Reporter ¶206-200

Change of basis, meaning

Commentary – Tax Reporter ¶206-000
Legislation/Regulatory – ITTOIA2005 s. 227(3)

Generally

Commentary – Tax Reporter ¶206-000 ; Tax Reporter ¶707-140

HMRC guidance

Commentary – Tax Reporter ¶206-350 ; Tax Reporter ¶707-200
HMRC Guidance – BIM34001

Insurance companies, mark to market basis

Legislation/Regulatory – CTA2009 s. 35 ; FA2002 s. 65, 66
HMRC Guidance – BIM15050 ; BIM30505 ; BIM37005 ; BIM37020 ; BIM40105 ; BIM55130 ; CTM01130 ; CTM40330 ; GIM4210 ; GIM4230 ; GIM5140 ; GIM5200 ; GIM5210 ; GIM5220 ; GIM5270 ; GIM9050 ; LAM01160 ; LAM02040 ; LAM02050 ; LAM04020 ; LAM05010 ; LAM06010 ; LAM07010 ; LAM07020 ; LAM07040 ; LAM07100 ; LAM07200 ; LAM09010 ; LAM10010 ; LAM10100 ; LAM13080 ; LLM4050

Intangible assets

Commentary – Tax Reporter ¶723-400 ; Tax Reporter ¶723-450

Mark to market

Election for spreading

Commentary – Tax Reporter ¶206-150 ; Tax Reporter ¶707-160

General rule

Commentary – Tax Reporter ¶206-150 ; Tax Reporter ¶707-160

Transfer of insurance business, preservation of deferral and spreading option

Commentary – Tax Reporter ¶707-160

Offshore funds

Legislation/Regulatory – SI 2009/3001 reg. 60, 61

Old rules

Commentary – Tax Reporter ¶206-450 ; Tax Reporter ¶707-210

Partnerships

Commentary – Tax Reporter ¶206-300 ; Tax Reporter ¶707-180

Personal representatives

Commentary – Tax Reporter ¶206-250

Practice applicable, meaning

Commentary – Tax Reporter ¶206-000

Property income

Commentary – Tax Reporter ¶711-150

Spreading adjustment

Corporation tax

Legislation/Regulatory – FA2006 Sch. 15, para. 9-15
HMRC Guidance – CTM81506

Income tax

Legislation/Regulatory – FA2006 Sch. 15, para. 1-8