Corporation Tax Act 2009 section 1217QG

Estimates

Section 1217QG sets out the requirements for making estimates when calculating the profits or losses of the separate orchestral trade for each period of account.

• Estimates must be prepared as 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 forming estimates
• These estimation requirements apply to the profit and loss calculations of the separate orchestral trade