# Income and Corporation Taxes Act 1988, Section 12: Basis of, and periods for, assessment.

Extent: E+W+S+N.I.

(1) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7ZA) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(7B) . . .
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(7C) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(8) Where it appears to the inspector that the beginning or end of any accounting period of a company is uncertain, he may make an assessment on the company for such period, not exceeding 12 months, as appears to him appropriate, and that period shall be treated for all purposes as an accounting period of the company unless either—
(a) the inspector on further facts coming to his knowledge sees fit to revise it; or
(b) on an appeal against the assessment in respect of some other matter the company shows the true accounting periods;
and if on an appeal against an assessment made by virtue of this subsection the company shows the true accounting periods, the assessment appealed against shall, as regards the period to which it relates, have effect as an assessment or assessments for the true accounting periods, and there may be made such other assessments for any such periods or any of them as might have been made at the time when the assessment appealed against was made.
(9) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/1988/1/section/12 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/section-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.