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Legislation
Corporation Tax Act 2009

Crossheading Rules differing from generally accepted accounting practice

  • Section 320 Credits and debits treated as relating to capital expenditure
  • Section 320A Amounts recognised in other comprehensive income and not transferred to profit or loss
  • Section 320B Hybrid capital instruments: amounts recognised in equity
  • Section 321 Credits and debits recognised in equity
  • Section 321A Restriction on debits resulting from release of loans to participators etc
  • Section 322 Release of debts: cases where credits not required to be brought into account
  • Section 323 Meaning of expressions relating to insolvency etc
  • Section 323A Substantial modification: cases where credits not required to be brought into account
  • Section 323B Insurers in financial difficulties: write-down orders
  • Section 324 Restriction on debits resulting from revaluation
  • Section 325 Restriction on credits resulting from reversal of disallowed debits
  • Section 326 Writing off government investments
  • Section 327 Disallowance of imported losses etc
  1. Rules differing from generally accepted accounting practice
  2. Restriction on credits resulting from reversal of disallowed debits

Section 325 | Restriction on credits resulting from reversal of disallowed debits

From legislation.gov.uk

(1)No credit is to be brought into account for the purposes of this Part in respect of the reversal of a debit disallowed by section 324(1).

(2)This section does not apply if fair value accounting is used.

(3)See also paragraph 61 of Schedule 2 (restriction on bringing into account credits resulting from reversal of debits disallowed in a period of account beginning before 1 January 2005).

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