{
  "url": "https://openlegislation.uk/finance-act-1997/schedule-13/paragraph-6",
  "json_url": "https://openlegislation.uk/finance-act-1997/schedule-13/paragraph-6.json",
  "legislation": "ukpga/1997/16",
  "legislation_title": "Finance Act 1997",
  "legislation_url": "https://openlegislation.uk/finance-act-1997",
  "path": "schedule/13/paragraph/6",
  "kind": "paragraph",
  "number": "6",
  "heading": null,
  "text": "In paragraph 11 (adjustments in the case of chargeable assets), for sub-paragraphs (2) to (4) there shall be substituted the following sub-paragraphs—\n“(2) Those amounts are—\n(a) the notional closing value of the relationship as at 31st March 1996; and\n(b) the amount which would be taken on a computation made—\n(i) in accordance with an authorised accruals basis of accounting, and\n(ii) on the assumption that such a basis of accounting had always been used as respects that relationship,\nto represent the accrued value of the loan relationship in question on 1st April 1996.\n(3) Where there is a difference between the amounts mentioned in sub-paragraph (2) above, that difference shall be brought into account—\n(a) where the amount mentioned in paragraph (a) of that sub-paragraph is the smaller, as a credit given for the purposes of this Chapter for the accounting period in which the company ceases to be a party to the relationship; and\n(b) in any other case, as a debit so given.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1997/16/schedule/13/paragraph/6",
    "retrieved_at": "2026-10-29T09:27:43.076653+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."
}