PART XIX SUPPLEMENTAL

Interpretation

836A Generally accepted accounting practice
(1) In the Tax Acts, unless the context otherwise requires, “generally accepted accounting practice”—
(a) means generally accepted accounting practice with respect to accounts of UK companies that are intended to give a true and fair view, and
(b) has the same meaning in relation to—
(i) individuals,
(ii) entities other than companies, and
(iii) companies that are not UK companies,
as it has in relation to UK companies.
(2) In subsection (1) “UK companies” means companies incorporated or formed under the law of a part of the United Kingdom.
S. 836A inserted (with effect in accordance with s. 103(6) of the amending Act) by Finance Act 2002 (c. 23), s. 103(2)