ECL22100 | Relevant accounting period: one accounting period ending within the financial year

The amount of levy payable depends upon a person’s UK revenue in the ‘relevant accounting period’ (s56 FA22).

The relevant accounting period will usually be the accounting period ending within the financial year (s56(2) FA22).

For example, if a person’s accounting period runs from 1 February to 31 January, this would be the relevant accounting period for the financial year ended 31 March in the year. See also the example in [ECL26100].

If the accounting period ends on the same date as the financial year, the accounting period will be treated as ending in that financial year (s56(3) FA22).

There may be circumstances where there is more than one accounting period ending within the financial year (see [ECL22200]), or no accounting period ending within the financial year (see [ECL22300]).