{
  "url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-228",
  "json_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-228.json",
  "legislation": "ukpga/2005/5",
  "legislation_title": "Income Tax (Trading and Other Income) Act 2005",
  "legislation_url": "https://openlegislation.uk/income-tax-trading-and-other-income-act-2005",
  "path": "section/228",
  "kind": "section",
  "number": "228",
  "heading": "Adjustment income and adjustment expense",
  "text": "(1) An amount by way of adjustment must be calculated in accordance with section 231.\n(2) If the amount produced by the calculation is positive, it is treated as income and charged to income tax under this Chapter.\nIt is referred to in this Chapter as “adjustment income”.\n(3) If the amount produced by the calculation is negative, a deduction is allowed for it in calculating the profits of the trade.\nIt is referred to in this Chapter as an “adjustment expense”.\n(4) This section is subject to section 234 (no adjustment for certain expenses previously brought into account).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2005/5/section/228",
    "retrieved_at": "2026-10-29T09:16:32.370392+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."
}