Part 2Trading income
Chapter 15Basis periods
Accounting date
197Meaning of “accounting date”
1
In this Chapter “accounting date”, in relation to a tax year, means—
a
the date in the tax year to which accounts are drawn up, or
b
if there are two or more such dates, the latest of them.
2
This is subject to—
a
section 211(2) (middle date treated as accounting date), and
b
section 214(3) (date treated as accounting date if date changed in tax year in which there is no accounting date).