Corporation Tax Act 2010 section 332J

Adjustments

Section 332J requires that any change to a company's adjusted ring fence profits is properly reflected by recalculating the investment allowance provisions under Chapter 6A.

• This section applies whenever there is a change in a company's adjusted ring fence profits for an accounting period after the investment allowance rules have already taken effect in relation to those profits.
• All necessary adjustments must be made to the way the investment allowance chapter operates, whether those adjustments relate directly to the profits themselves or to other aspects of the chapter.
• This includes revisiting any reduction of adjusted ring fence profits that was originally calculated under the allowance rules.
• It also includes recalculating any amount of activated allowance that is to be carried forward to future periods.