Section 614DB Periods of account and related periods of account and tax yearsF1

(1)

In this Part “period of account” means a period for which accounts are made up.

(2)

Except for the purposes of sections 614BB to 614BE and subsection (3), in this Part “period of account” does not include a period that begins before 26 November 1996.

(3)

But this Part applies in relation to a period of account that begins before 26 November 1996 and ends on or after that date as if—

(a)

so much of the period as falls before that date, and

(b)

so much of the period as falls on or after that date,

were separate periods of account.

(4)

For the purposes of this Part, a tax year is related to a period of account if the tax year consists of or includes the whole or any part of the period of account.

(5)

For the purposes of this Part a period of account is related to a tax year if the tax year is related to the period of account.

Annotations

Textual amendments

F1: Pt. 11A Ch. 4 inserted (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. 3 para. 5 (with Sch. 9 paras. 1-9, 22)

Notes on Part 11A

Textual amendments

F1: Pt. 11A inserted (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. 3 para. 2 (with Sch. 9 paras. 1-9, 22)