Corporation Tax Act 2009 section 1216BF

Estimates

Section 1216BF sets out the requirements for how estimates must be prepared at the balance sheet date for each period of account.

  • Estimates are required at the balance sheet date for each period of account
  • All estimates must be made on a just and reasonable basis
  • All relevant circumstances must be taken into consideration when preparing estimates
  • This ensures a consistent and fair approach to estimating figures across accounting periods

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