[F12(1)For the purposes of this Schedule, a “reconciliation period” is—U.K.
(a)if P has quarterly accounting periods, a period consisting of 4 consecutive accounting periods, and
(b)if P has any other length of accounting period, a period consisting of such number of consecutive accounting periods as would produce a period as near as possible to 365 days.
(2)In relation to an accounting period, a reference to “the reconciliation period” is to the reconciliation period in which that accounting period falls.]
Textual Amendments
F1Sch. 4B inserted (with effect in accordance with Sch. 25 para. 12 of the amending Act) by Finance Act 2012 (c. 14), Sch. 25 para. 9