{
  "url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-28A/paragraph-7",
  "json_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-28A/paragraph-7.json",
  "legislation": "ukpga/1988/1",
  "legislation_title": "Income and Corporation Taxes Act 1988",
  "legislation_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988",
  "path": "schedule/28A/paragraph/7",
  "kind": "paragraph",
  "number": "7",
  "heading": null,
  "text": "(1) Subject to paragraph 8 below, the apportionment required by section 768B(4)(c) shall be made—\n(a) in the case of the sums mentioned in paragraph 6(a) above, by apportioning to each accounting period the amounts that would fall to be brought into account in that period as such sums, if it were a period of account for which accounts were drawn up in accordance with generally accepted accounting practice;\n(aa) in the case of the charges mentioned in paragraph 6(b) above, by reference to the time when the charge is due to be paid;\n(b) in the case of the excess mentioned in paragraph 6(c) above, or in the case of the non-trading deficit mentioned in paragraph 6(dc) above, by apportioning the whole amount of the excess or, as the case may be, of the deficit to the first part of the accounting period being divided;\n(c) in the case of the amounts mentioned in paragraph 6(d) , (da) and (e) above, by reference to the respective lengths of the parts of the accounting period being divided;\n(d) in the case of any such debit as—\n(i) is mentioned in paragraph 6(db) above,\n(ii) falls to be brought into account for the purposes of Part 5 of CTA 2009 in accordance with an amortised cost basis of accounting, . . .\n(iii) so falls to be brought into account otherwise than on the assumption, specified in section 373 of to that Act, that the interest to which it relates does not accrue until it is paid , and\n(iv) so falls to be brought into account without any adjustment under sections 406 to 412 of that Act (debit relating to amount of discount referable to the relevant accounting period to be brought into account instead for the accounting period in which the security is redeemed),\nby reference to the time of accrual of the amount to which the debit relates;\n(e) in the case of any such debit as—\n(i) is mentioned in paragraph 6(db) above,\n(ii) falls to be brought into account for the purposes of Part 5 of CTA 2009 in accordance with an amortised cost basis of accounting, . . . and\n(iii) so falls to be brought into account—\n— on the assumption mentioned in paragraph (d)(iii) above, or\n— with such an adjustment as is mentioned in paragraph (d)(iv) above,\nby apportioning the whole amount of the debit to the first part of the accounting period being divided;\n(f) in the case of any such debit as is mentioned in paragraph 6(dd) above, by apportioning the whole amount of the debit to the first part of the accounting period being divided.\n(g) in the case of any such credit or debit as is mentioned in paragraph 6(de), by apportioning to each accounting period the credits or debits that would fall to be brought into account in that period if it were a period of account for which accounts were drawn up in accordance with generally accepted accounting practice;\n(h) in the case of any such loss as is mentioned in paragraph 6(df) above, by apportioning the whole amount of the loss to the first part of the accounting period being divided.\n(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 28A para. 7(1)(a)(aa) substituted for para. 7(1)(a) (28.9.2004 with effect in accordance with art. 1(2) of the amending S.I.) by The Finance Act 2004, Sections 38 to 40 and 45 and Schedule 6 (Consequential Amendment of Enactments) Order 2004 (S.I. 2004/2310), art. 2, Sch. para. 39(5)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 28A para. 7(1)(b) inserted (with effect in accordance with s. 105(1) of the amending Act) by Finance Act 1996 (c. 8), Sch. 14 para. 54(3)(a) (with Sch. 15)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Sch. 28A para. 7(1)(b) substituted (retrospectively) by Finance Act 1998 (c. 36), s. 82(3)(d)(4)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in Sch. 28A para. 7(1)(b) inserted (with effect in accordance with Sch. 7 para. 3(9) of the amending Act) by Finance (No. 2) Act 2005 (c. 22), Sch. 7 para. 3(4)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in Sch. 28A para. 7(1)(c) inserted (with effect in accordance with s. 105(1) of the amending Act) by Finance Act 1996 (c. 8), Sch. 14 para. 54(3)(b) (with Sch. 15)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Sch. 28A para. 7(1)(d)-(f) inserted (with effect in accordance with s. 105(1) of the amending Act) by Finance Act 1996 (c. 8), Sch. 14 para. 54(3)(c) (with Sch. 15)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Words in Sch. 28A para. 7(1)(d)(ii) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 290(4)(a) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Words in Sch. 28A para. 7(1)(d)(ii)(e)(ii) substituted (with effect in accordance with s. 52(3) of the amending Act (as amended (retrospectively) by 2005 c. 7, Sch. 4 para. 50, Sch. 11 Pt. 2(7)) by Finance Act 2004 (c. 12), Sch. 10 para. 45"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Word preceding Sch. 28A para. 7(1)(d)(iii) repealed (with effect in accordance with s. 82(2) of the repealing Act) by Finance Act 2002 (c. 23), Sch. 25 para. 58(3), Sch. 40 Pt. 3(12), Note"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Words in Sch. 28A para. 7(1)(d)(iii) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 290(4)(b) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Sch. 28A para. 7(1)(d)(iv) and preceding word inserted (with effect in accordance with s. 82(2) of the amending Act) by Finance Act 2002 (c. 23), Sch. 25 para. 58(3)"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "Words in Sch. 28A para. 7(1)(d)(iv) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 290(4)(c) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F13",
      "text": "Words in Sch. 28A para. 7(1)(e)(ii) substituted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 290(4)(d) (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F14",
      "text": "Word preceding Sch. 28A para. 7(1)(e)(iii) repealed (with effect in accordance with s. 82(2) of the repealing Act) by Finance Act 2002 (c. 23), Sch. 25 para. 58(4), Sch. 40 Pt. 3(12), Note"
    },
    {
      "type": "F",
      "label": "F15",
      "text": "Sch. 28A para. 7(1)(e)(iii) and preceding word substituted for para. 7(1)(e)(iii)(iv) (28.9.2004 with effect in accordance with art. 1(2) of the amending S.I.) by The Finance Act 2004, Sections 38 to 40 and 45 and Schedule 6 (Consequential Amendment of Enactments) Order 2004 (S.I. 2004/2310), art. 2, Sch. para. 39(6)"
    },
    {
      "type": "F",
      "label": "F16",
      "text": "Sch. 28A para. 7(1)(g)(h) inserted (24.7.2002) by Finance Act 2002 (c. 23), Sch. 30 para. 4(5)"
    },
    {
      "type": "F",
      "label": "F17",
      "text": "Sch. 28A para. 7(2) repealed (with effect in accordance with s. 82(2) of the repealing Act) by Finance Act 2002 (c. 23), Sch. 25 para. 58(5), Sch. 40 Pt. 3(12), Note"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1988/1/schedule/28A/paragraph/7",
    "retrieved_at": "2026-10-29T09:49:54.309394+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."
}