Section 614DB | Periods of account and related periods of account and tax years ^F1

(1)In this Part “period of account” means a period for which accounts are made up.^F1

(2)Except for the purposes of sections 614BB to 614BE and subsection (3), in this Part “period of account” does not include a period that begins before 26 November 1996.^F1

(3)But this Part applies in relation to a period of account that begins before 26 November 1996 and ends on or after that date as if—^F1

(a)so much of the period as falls before that date, and^F1

(b)so much of the period as falls on or after that date,^F1

were separate periods of account.

(4)For the purposes of this Part, a tax year is related to a period of account if the tax year consists of or includes the whole or any part of the period of account.^F1

(5)For the purposes of this Part a period of account is related to a tax year if the tax year is related to the period of account.^F1