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Finance Act 2014

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This is the original version (as it was originally enacted).

165Accounting period
This section has no associated Explanatory Notes

(1)For the purposes of this Part—

(a)a period of 3 consecutive months is an accounting period, but

(b)the Commissioners may by regulations provide for some other period specified in, or determined in accordance with, the regulations to be an accounting period.

(2)The first day of an accounting period is such day as the Commissioners may direct.

(3)The Commissioners may agree with a person to make either or both of the following changes for the purposes of that person’s liability to general betting duty, pool betting duty or remote gaming duty—

(a)to treat specified periods (whether longer or shorter than 3 months) as accounting periods;

(b)to begin accounting periods on days other than those applying by virtue of subsection (2).

(4)The Commissioners may by direction make transitional arrangements for periods (whether of 3 months or otherwise) to be treated as accounting periods where—

(a)a person becomes or ceases to be registered, or

(b)an agreement under subsection (3) begins or ends.

(5)A direction under this section—

(a)may apply generally or only to a particular case or class of case, and

(b)must be published unless it applies only to a particular case.

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