Section 371 | Adjustments where sections 360 to 369 subsequently disapplied by section 370

(1)This section applies if—

(a)at any time any of sections 360 to 369 has applied for determining the amounts to be taken into account in calculating the profits or losses of a company for corporation tax purposes, and

(b)subsequently the condition in section 370(2) is met.

(2)If this section applies—

(a)the amounts mentioned in subsection (1)(a), and

(b)any other amounts which, as a result of section 370, are to be taken into account in calculating the profits or losses of the company for corporation tax purposes,

are subject to such adjustments as are just and reasonable.

(3)All such assessments and adjustments of assessments are to be made as are necessary to give effect to this section.