Part 2Trading income
C1C3C2 Chapter 15Basis periods
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
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
Special rules if accounting date changes
219C3C2The year after an ineffective change of accounting date
1
This section applies to a tax year in which a person carries on a trade if—
a
the tax year falls immediately after a tax year in which a change of accounting date occurs, and
b
the basis period for the tax year in which the change occurs ends with the old accounting date.
2
If the accounting date in the tax year is the new accounting date, a change of accounting date is treated as occurring in that tax year for the purposes of sections 216 to 220 (including this section).
3
If the accounting date in the tax year reverts to the old accounting date, that change of accounting date is ignored for the purposes of—
a
section 214, and
b
sections 216 to 220 (including this section).
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