{
  "url": "https://openlegislation.uk/corporation-tax-act-2009/section-732",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2009/section-732.json",
  "legislation": "ukpga/2009/4",
  "legislation_title": "Corporation Tax Act 2009",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2009",
  "path": "section/732",
  "kind": "section",
  "number": "732",
  "heading": "Reversal of previous accounting gain",
  "text": "(1) This section applies if—\n(a) in a period of account a loss is recognised in determining a company's profit or loss (“the recognised loss”),\n(b) the loss wholly or partly reverses a gain recognised in a previous period of account (“the reversed gain”), and\n(c) a credit was brought into account for tax purposes under Chapter 2 (credits in respect of intangible fixed assets) in respect of that gain (“the previous credit”).\n(2) A corresponding debit must be brought into account for tax purposes.\n(3) The amount of that debit is—\nRL×PCRGwhere—\nRL is the recognised loss,\nPC is the previous credit, and\nRG is the reversed gain.\n(4) References in this section to the recognition of a loss that reverses a gain recognised in a previous period of account do not include a loss recognised—\n(a) by way of amortisation of an asset that has previously been the subject of a revaluation, or\n(b) as a result of an impairment review of such an asset.\n(5) In subsection (4) “revaluation” has the same meaning as in section 723 (see subsection (5) of that section).",
  "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/732",
    "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."
}