Corporation Tax Act 2009 section 1217IF

Estimates

Section 1217IF sets out the basis on which estimates must be made when calculating the profits or losses of a separate theatrical trade.

  • Estimates must be made as at the balance sheet date for each period of account
  • The basis of estimation must be just and reasonable
  • All relevant circumstances must be taken into consideration
  • This applies to estimates made for the purposes of calculating profits or losses under section 1217IA

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