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Legislation
Finance (No. 2) Act 2023

Crossheading Dealing with deferred tax assets etc

  • Section 182 Total deferred tax adjustment amount
  • Section 183 Qualifying foreign tax credits (substitute loss carry forward assets)
  • Section 183A Alternative to section 183 where carry forward of credits not permitted
  • Section 184 Recaptured deferred tax liabilities
  • Section 185 Inclusion of existing deferred tax assets and liabilities on entry into regime
  • Section 186 Deferred tax assets recorded at less than minimum rate
  • Section 187 Election for losses to be treated as special loss deferred tax assets
  • Section 188 Further provision about elections under section 187
  1. Dealing with deferred tax assets etc
  2. Further provision about elections under section 187

Section 188 | Further provision about elections under section 187

From legislation.gov.uk

(1)Paragraph 1 of Schedule 15 (long term elections) applies to an election under section 187.

(2)But that paragraph has effect for the purposes of such an election as if—

(a)sub-paragraph (4) were omitted (so that there is no restriction on revoking the election), and

(b)sub-paragraph (5) were omitted (as an election under this section cannot be made again once revoked).

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