C1Part 3Trading income
Annotations:
Modifications etc. (not altering text)
Chapter 3Trade profits: basic rules
52Apportionment etc of profits and losses to accounting period
1
This section applies if a period of account of a trade does not coincide with an accounting period.
2
Any of the following steps may be taken if they are necessary in order to arrive at the profits or losses of the accounting period—
a
apportioning the profits or losses of a period of account to the parts of that period falling in different accounting periods, and
b
adding the profits or losses of a period of account (or part of a period) to profits or losses of other periods of account (or parts).
3
The steps must be taken by reference to the number of days in the periods concerned.
Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)