Corporation Tax Act 2009 (c. 4)

Part 16 U.K. Companies with investment business

Chapter 2 U.K. Management expenses

Claw back of relief U.K.

1231 Absence of accounts U.K.

(1) This section sets out how section 1229 operates if a company has an accounting period that neither coincides with nor falls within any period of account.

(2) Section 1229 operates as if—

(a) there were a period of account of the company that coincides with that accounting period, and

(b) in calculating for accounting purposes the company's profits and losses for that period of account, amounts were brought into account in accordance with UK generally accepted accounting practice.

(3) The references in section 1251(3)(b) (car or motor cycle hire) to credits and debits include credits and debits that are deemed to be made by virtue of this section.