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HMRC internal manual

Corporate Intangibles Research and Development Manual

Core computational rules: accounting: period for which entries taken into account for tax: statute


CTA09/PART8 provides in a number of places that, subject to tax adjustments, the taxable credit or deductible debit is to be an amount ‘recognised in determining a company’s profit or loss’ for a period. Section 716 provides that an amount recognised in this way also includes any amounts:

  1. recognised for a period in the company’s statement of recognised gains and losses - see CIRD12220
  2. recognised for a period in the company’s statement of changes in equity - see CIRD12220
  3. recognised in any other statement of items brought into account in computing the company’s profits and losses for the period
  4. that would have been recognised in a company’s profit and loss account (or as in (a) or (b) above) if the accounts had been drawn up under GAAP - see CIRD30020

The inclusion of amounts recognised in other statements in (c) above may be in point if there are changes in the way results are presented under GAAP.