{
  "url": "https://openlegislation.uk/finance-act-2002/section-103",
  "json_url": "https://openlegislation.uk/finance-act-2002/section-103.json",
  "legislation": "ukpga/2002/23",
  "legislation_title": "Finance Act 2002",
  "legislation_url": "https://openlegislation.uk/finance-act-2002",
  "path": "section/103",
  "kind": "section",
  "number": "103",
  "heading": "References to accounting practice and periods of account",
  "text": "(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(3) In section 288(1) of the Taxation of Chargeable Gains Act 1992 (interpretation), at the appropriate place insert—\n““period of account” has the meaning given by section 832(1) of the Taxes Act;”.\n(4) In the following provisions for “normal accounting practice” or “normal accountancy practice”, wherever occurring, substitute “ generally accepted accounting practice ”\n(a) in the Taxes Act 1988, sections ......, ..., 798B(1) ..., ...;\n(b) in the Finance Act 1993 (c. 34), sections ... 150(6)(c) and (11)(c), 154(11)(c), (12)(d), (13)(b), (13A)(d) and (13B)(d), 155(7), (11)(d) and (12)(b), 156(2)(e) and (4)(b) and 159(1)(b);\n(c) in the Finance Act 1994 (c. 9), section 156(3)(a) and (4)(a);\n(d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(f) in the Finance Act 2000 (c. 17), ... in Schedule 15, paragraph 29(4), ...;\n(g) in the Capital Allowances Act 2001 (c. 2), sections 179(1)(f), 219(1) ...;\n(h) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(6) The amendments made by subsections (1) to (3) above have effect for the purposes of provisions of this Act using the expressions mentioned (including provisions inserted by amendment in other enactments) whenever those provisions are expressed to have effect or to come, or to have come, into force.\nThis is without prejudice to the general effect of those amendments.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 103(1) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 103(2) repealed (7.4.2005) by Finance Act 2005 (c. 7), Sch. 11 Pt. 2(7)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Word in s. 103(4)(a) repealed (with effect in accordance with Sch. 26 Pt. 3(12) Note of the amending Act) by Finance Act 2006 (c. 25), Sch. 26 Pt. 3(12)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Word in s. 103(4)(a) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 2 (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in s. 103(4)(a) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "Words in s. 103(4)(a) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "Word in s. 103(4)(b) repealed (with effect in accordance with s. 52(3) of the amending Act) by Finance Act 2004 (c. 12), Sch. 42 Pt. 2(6)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "S. 103(4)(d) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "S. 103(4)(e) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "S. 103(4)(e) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 8 (with Sch. 9 paras. 1-9, 22)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Words in s. 103(4)(f) repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), s. 723, Sch. 8 Pt. 1 (with Sch. 7)"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "Words in s. 103(4)(f) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F13",
      "text": "Words in s. 103(4)(g) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F14",
      "text": "S. 103(4)(h) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)"
    },
    {
      "type": "F",
      "label": "F15",
      "text": "S. 103(5) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2002/23/section/103",
    "retrieved_at": "2026-10-29T09:19:27.148984+00:00",
    "licence": "OGL-UK-3.0",
    "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
    "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
  }
}