Corporation Tax Act 2010 section 356I

Adjustments

Section 356I ensures that any changes to a company's adjusted ring fence profits are properly reflected by recalculating the onshore allowance provisions in Chapter 8.

• If adjusted ring fence profits for an accounting period change after the onshore allowance rules have already been applied, adjustments must be made
• Adjustments may affect any aspect of the onshore allowance rules, not just the profits themselves
• The reduction of adjusted ring fence profits (under section 356D) must be recalculated if necessary
• The amount of activated allowance carried forward (under section 356DA) must also be recalculated where needed