Part 2Trading income

C1C3C2 Chapter 15Basis periods

Annotations:
Modifications etc. (not altering text)
C1

Pt. 2 Ch. 15 excluded (14.2.2006 with effect as mentioned in reg. 1(2) of the amending S.I.) by S.I. 1997/2681 reg. 6(1)(a) as amended by The Lloyd's Underwriters (Scottish Limited Partnerships) (Tax) (Amendment) Regulations 2006 (S.I. 2006/111), reg. 8

C3

Pt. 2 Ch. 15 applied (with application in accordance with Sch. 1 para. 62 of the amending Act) by Finance Act 2022 (c. 3), Sch. 1 para. 63

C2

Pt. 2 Ch. 15 applied (with application in accordance with Sch. 1 para. 64 of the amending Act) by Finance Act 2022 (c. 3), Sch. 1 para. 65

Accounting date

197Meaning of “accounting date”

1

In this Chapter “accounting date”, in relation to a tax year, means—

a

the date in the tax year to which accounts are drawn up, or

b

if there are two or more such dates, the latest of them.

2

This is subject to—

a

section 211(2) (middle date treated as accounting date), and

b

section 214(3) (date treated as accounting date if date changed in tax year in which there is no accounting date).