{
  "url": "https://openlegislation.uk/postal-services-act-2011-taxation-regulations-2012/regulation-3",
  "json_url": "https://openlegislation.uk/postal-services-act-2011-taxation-regulations-2012/regulation-3.json",
  "legislation": "uksi/2012/764",
  "legislation_title": "The Postal Services Act 2011 (Taxation) Regulations 2012",
  "legislation_url": "https://openlegislation.uk/postal-services-act-2011-taxation-regulations-2012",
  "path": "regulation/3",
  "kind": "regulation",
  "number": "3",
  "heading": "De-recognition of the obligations and assets of the RMPP",
  "text": "(1) Paragraph (2) applies where—\n(a) RMGL or POL recognises a debit or credit in its accounts, in accordance with generally accepted accounting practice; and\n(b) the debit or credit is recognised in that company’s accounts as a consequence of—\n(i) the Accrued Rights Transfer;\n(ii) the division of the RMPP in accordance with an order made under section 18 of the Act (division of the RMPP into different sections);\n(iii) an amendment of the RMPP in accordance with an order made under section 19 of the Act (amendments of the RMPP) in connection with an order under section 17 or section 18 of the Act; or\n(iv) the Assets Transfer.\n(2) In computing the profits, gains or losses of that company for the purposes of corporation tax, no amount is to be brought into account in respect of the debit or credit.\n(3) In this regulation—\n(a) “accounts” has the meaning given by section 17(1) of the Corporation Tax Act 2010 (interpretation); and\n(b) “generally accepted accounting practice” has the same meaning as in section 1127 of the Corporation Tax Act 2010 (generally accepted accounting practice and related expressions).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 3 in force at 1.4.2012, see reg. 1(1)"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "2010 c. 4."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2012/764/regulation/3",
    "retrieved_at": "2026-10-29T01:37:24.278620+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."
}