Section 631 | Company in administration: making of assessment to tax

(1)This section applies if—

(a)an assessment to corporation tax is made on the profits of a company in administration, and

(b)the assessment is made before the date of the dissolution event in respect of the company (“the actual dissolution date”).

(2)An assessment for an accounting period in which the company is in administration is not invalid because it is made before the end of the period.

(3)In applying section 10(1) of CTA 2009 (time when accounting periods come to an end) for the purpose of determining when an accounting period of the company ends, the administrator may make an assumption as to what the actual dissolution date will be (“the assumed dissolution date”).

(4)The company's final and penultimate years are not changed if the assumption made under subsection (3) as to the actual dissolution date is wrong.

(5)If the actual dissolution date is later than the assumed dissolution date—

(a)an accounting period of the company ends on the assumed dissolution date (“period A”), and

(b)a new accounting period of the company (“period B”) begins immediately after the end of period A.

(6)Section 10(1) of CTA 2009 then applies as if the company had entered administration at the beginning of period B.