Taxes Consolidation Act 1997, Schedule 17A paragraph 2

Transitional measures (amounts receivable and deductible)

Paragraph 2 of Schedule 17A provides transitional rules to prevent double counting of income or expenses (or amounts falling out of the tax system entirely) when a company moves from former GAAP to relevant accounting standards (IFRS or current GAAP) for the purposes of computing trading profits under Case I or Case II of Schedule D.