Corporation Tax Act 2009 section 938

Meaning of "the administration period", "the final accounting period" and "the final tax year"

Section 938 defines three key terms used throughout this Chapter: "the administration period", "the final accounting period" and "the final tax year", all of which relate to the winding up of a deceased person's estate.

• The administration period runs from the date of death until the administration of the estate is complete
• In Scotland, completion is specifically defined as the point when all liabilities have been discharged or provided for and the free balance for residuary legatees or those entitled on intestacy has been ascertained
• The final accounting period is the accounting period in which the administration period comes to an end
• The final tax year is the tax year in which the administration period comes to an end