Corporation Tax Act 2009 section 1218ZBF

Estimates

Section 1218ZBF sets out the rules governing how estimates used in calculating the profits or losses of a separate exhibition trade must be prepared.

• 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 the estimates.
• These estimation requirements support the profit and loss calculations for the separate exhibition trade under section 1218ZBA.