{
  "url": "https://openlegislation.uk/finance-act-2022/schedule-1/paragraph-65",
  "json_url": "https://openlegislation.uk/finance-act-2022/schedule-1/paragraph-65.json",
  "legislation": "ukpga/2022/3",
  "legislation_title": "Finance Act 2022",
  "legislation_url": "https://openlegislation.uk/finance-act-2022",
  "path": "schedule/1/paragraph/65",
  "kind": "paragraph",
  "number": "65",
  "heading": "Basis period for tax year 2023-24",
  "text": "(1) Chapter 15 of Part 2 of ITTOIA 2005 (basis periods) applies as if—\n(a) the basis period for the tax year 2023-24 were, instead of the period determined in accordance with that Chapter, the period—\n(i) beginning immediately after the end of the basis period for the tax year 2022-23 (determined in accordance with that Chapter as it applies in relation to that tax year), and\n(ii) ending with 5 April 2024;\n(b) section 220 of that Act were disregarded.\n(2) In this Part of this Schedule, the “standard part” of the basis period for the tax year 2023-24 is the period of 12 months beginning with the start of that basis period (determined in accordance with sub-paragraph (1)(a)(i)).\n(3) If the standard part of the basis period for the tax year 2023-24 ends before 31 March 2024 (or where an election under paragraph 67(3) has effect), there is a “transition part” of that basis period which—\n(a) begins immediately after the end of the standard part, and\n(b) ends with the date given by sub-paragraph (4).\n(4) The date given by this sub-paragraph is—\n(a) if the date (or the latest of the dates) to which accounts are drawn up in that tax year is 31 March or 1, 2, 3 or 4 April 2024, that date;\n(b) in any other case (or where an election under paragraph 67(3) has effect), 5 April 2024.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2022/3/schedule/1/paragraph/65",
    "retrieved_at": "2026-10-29T08:57:50.927298+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "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."
}