Corporation Tax Act 2009 (c. 4)

Part 16 U.K. Companies with investment business

Chapter 2 U.K. Management expenses

Modifications etc. (not altering text)

C1 Pt. 16 Ch. 2 modified by 2010 c. 4, s. 676AJ(2) (as inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 75)

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 F1 ... hire) to credits and debits include credits and debits that are deemed to be made by virtue of this section.

Textual Amendments

F1 Words in s. 1231(3) omitted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 11 para. 56