{
  "url": "https://openlegislation.uk/corporation-tax-act-2009/section-182",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2009/section-182.json",
  "legislation": "ukpga/2009/4",
  "legislation_title": "Corporation Tax Act 2009",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2009",
  "path": "section/182",
  "kind": "section",
  "number": "182",
  "heading": "Calculation of the adjustment",
  "text": "The amount of the adjustment is calculated as follows. Step 1\nAdd together any amounts representing the extent to which, comparing the two bases, profits were understated (or losses overstated) on the old basis.\nThe amounts are—\nAmounts\n1\nReceipts which on the new basis would have been brought into account in calculating the profits of a period of account before the change, so far as they were not so brought into account.\n2\nExpenses which on the new basis fall to be brought into account in calculating the profits of a period of account after the change, so far as they were brought into account in calculating the profits of a period of account before the change.\n3\nDeductions in respect of opening trading stock or opening work in progress in the first period of account on the new basis, so far as they—\n(a)are not matched by credits in respect of closing trading stock or closing work in progress in the last period of account before the change, or\n(b)are calculated on a different basis that if used to calculate those credits would have given a higher figure.\n4\nAmounts recognised for accounting purposes in respect of depreciation in the last period of account before the change, so far as they were not the subject of an adjustment for corporation tax purposes, where such an adjustment would be required on the new basis.\nStep 2\nThen deduct any amounts representing the extent to which, comparing the two bases, profits were overstated (or losses understated) on the old basis.\nThe amounts are—\nAmounts\n1\nReceipts which were brought into account in a period of account before the change, so far as they would not have been so brought into account if the profits had been calculated on the new basis.\n2\nExpenses which were not brought into account in calculating the profits of a period of account before the change, so far as they—\n(a)would have been brought into account for a period of account before the change if the profits had been calculated on the new basis, and\n(b)would have been brought into account for a period of account after the change if the profits had continued to be calculated on the old basis.\n3\nCredits in respect of closing trading stock or closing work in progress in the last period of account before the change, so far as they—\n(a)are not matched by deductions in respect of opening trading stock or opening work in progress in the first period of account on the new basis, or\n(b)are calculated on a different basis that if used to calculate those deductions would have given a lower figure.\nAn amount so deducted may not be deducted again in calculating the profits of a period of account.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/4/section/182",
    "retrieved_at": "2026-10-29T09:11:19.560467+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}