Corporation Tax Act 2009 section 143

Miscellaneous profits and losses: apportionment to accounting periods ending before 1 April 2009

Section 143 deals with how miscellaneous profits and losses are calculated and apportioned when a period of account straddles the 1 April 2009 changeover date for the Corporation Tax Act 2009.

• Applies where a period of account begins before 1 April 2009 and ends on or after that date
• Relevant where profits or losses need to be split to determine figures for an accounting period ending before 1 April 2009
• The entire period's miscellaneous profits or losses are calculated under the Corporation Tax Act 2009 rules, even for the pre-April 2009 portion
• The calculated profits or losses may then be apportioned under section 1307 to any part of the period falling in an accounting period ending before 1 April 2009