Paragraph 20

(1)

Where the reasons for which any provision was made in accordance with paragraph 19 have ceased to apply to any extent, that provision must be written back to the extent that it is no longer necessary.

F1(1A)

But provision made in accordance with paragraph 19(2) in respect of goodwill must not be written back to any extent.

F2(2)

Any amounts written back under sub-paragraph (1) must be recognised in the profit and loss account and disclosed separately in a note to the accounts if not shown separately in the profit and loss account.

Annotations

Textual amendments

F1: Sch. 1 Pt. 2 Section B para. 20(1A) inserted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 38(b)(i)
F2: Sch. 1 Pt. 2 Section B para. 20(2) substituted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 38(b)(ii)