Valid from 19/07/2006
Deemed accounting periodU.K.
14(1)It is to be assumed that an accounting period of the EEA company begins at the beginning of the loss period.
(2)It is to be assumed that the accounting period ends on the earlier of—
(a)the end of 12 months from the beginning of the loss period, or
(b)the end of the loss period.
(3)If an accounting period ends in accordance with sub-paragraph (2)(a), it is to be assumed that a further accounting period begins when the previous one ends.
(4)It is to be assumed that the further accounting period ends on the earlier of—
(a)the end of 12 months from the beginning of the further accounting period, or
(b)the end of the loss period.