[F1356GAReference periodsU.K.
(1)For the purposes of sections 356GB to 356GD, the accounting period, or (if the company is not a licensee for the whole of the accounting period) the part or parts of the accounting period for which the company is a licensee, are to be divided into reference periods (each of which “belongs to” the site concerned).
(2)A reference period is a period of consecutive days that meets the following conditions—
(a)at the beginning of each day in the period, the company is a licensee in the licensed area;
(b)at the beginning of each day in the period, the company's share of the equity in the licensed area is the same;
(c)each day in the period falls within the accounting period.]
Textual Amendments
F1Pt. 8 Ch. 8 inserted (with effect in accordance with Sch. 15 paras. 6(1), 9(2) of the amending Act) by Finance Act 2014 (c. 26), Sch. 15 para. 3