BIM34000 - Change of basis of computing taxable profits: contents

This chapter deals with the consequences of changes in the way in which taxable profits of a trade, profession or vocation are computed from one period of account to the next. The effect of such changes for tax purposes depends on whether they occur as a result of a change in the legislation or in our understanding of the legislation, a change of accounting policy, or to correct errors.

A full list of the contents of this chapter is shown below. The guidance is subdivided into sections, the opening page of each section being in bold in the list below. Please click on the page number alongside to go direct to each section.

1. BIM34001

   Introduction and flowchart
2. BIM34005

   Historic overview
3. BIM34010

   HMRC ability to impose a change
4. BIM34015

   Has there been a change of basis?
5. BIM34020

   What are invalid and valid basis?
6. BIM34025

   From invalid to valid basis
7. BIM34030

   Invalid to valid basis: computational adjustment
8. BIM34035

   Invalid to valid basis: approach to earlier years
9. BIM34040

   From one valid basis to another valid basis
10. BIM34045

    Accounting policy changes
11. BIM34050

    Accounting policy changes: has there been a change?
12. BIM34055

    Accounting policy changes: Section 10 of FRS102
13. BIM34060

    Accounting policy changes: when are they made?
14. BIM34065

    Accounting policy changes: how are they reported in accounts?
15. BIM34070

    Changes in tax adjustment
16. BIM34090

    Adjustment income and expenses: contents
17. BIM34095

    Adjustment income and expenses: charge to tax
18. BIM34105

    Adjustment income and expenses: expenses already allowed
19. BIM34110

    Adjustment income and expenses: stock and depreciation
20. BIM34115

    Adjustment income and expenses: change from realisation basis to mark to market (fair value) accounting
21. BIM34120

    Adjustment income and expenses: change from realisation basis to mark to market (fair value) accounting: spreading election
22. BIM34130

    Adjustment income and expenses: calculation of adjustment
23. BIM34135

    Adjustment income and expenses: meanings