Regulation 9 Determination of qualifying period
(1)
The qualifying period in respect of a charging yearf1 is the second calendar year preceding the one within which the charging year begins.
(2)
In this regulation, “calendar year” means the period of 12 months beginning with 1 January.
Annotations
Footnotes
- f1
-
“Charging year” is defined in section 90 of the Act.
Notes on Part 2
Footnotes
- f1
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When determining the maximum amount of a penalty under paragraph 4 of Schedule 13 to the Act, regulations 6 to 8 apply by virtue of paragraph 4(9) of that Schedule. In such a case, the qualifying worldwide revenue of a provider of a regulated service is required to be by reference to an accounting period. “Accounting period” is defined in paragraph 4(8) of Schedule 13 to the Act.