Part 16Companies with investment business
C1Chapter 2Management expenses
Annotations:
Modifications etc. (not altering text)
Claw back of relief
1231Absence of accounts
1
This section sets out how section 1229 operates if a company has an accounting period that neither coincides with nor falls within any period of account.
2
Section 1229 operates as if—
a
there were a period of account of the company that coincides with that accounting period, and
b
in calculating for accounting purposes the company's profits and losses for that period of account, amounts were brought into account in accordance with UK generally accepted accounting practice.
3
The references in section 1251(3)(b) (car F1... hire) to credits and debits include credits and debits that are deemed to be made by virtue of this section.
Pt. 16 Ch. 2 modified by 2010 c. 4, s. 676AJ(2) (as inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 75)