Corporation Tax Act 2009 section 9

Beginning of accounting period

Section 9 sets out the rules for when a company's accounting period begins for corporation tax purposes.

• An accounting period starts when a company first comes within the charge to corporation tax, or immediately after its previous accounting period ends if it remains chargeable
• A UK resident company is treated as coming within the charge to corporation tax when it starts to carry on business, even if it would not otherwise be within the charge
• If a chargeable gain or allowable loss arises at a time that falls outside any existing accounting period, a new accounting period begins at that point and the gain or loss falls within it
• These rules do not apply to companies being wound up (which are covered by separate provisions), and are subject to other Corporation Tax Acts provisions that may specify a different start date