Section 10 — Corporation Tax Act 2009: End of accounting period

End of accounting period 10 1 An accounting period of a company comes to an end on the first occurrence of any of the following—

a the ending of 12 months from the beginning of the accounting period, b an accounting date of the company, c if there is a period for which the company does not make up accounts, the end of that period, d the company starting or ceasing to trade, e if the company carries on only one trade, coming, or ceasing to be, within the charge to corporation tax in respect of that trade, f if the company carries on more than one trade, coming, or ceasing to be, within the charge to corporation tax in respect of all the trades it carries on, g the company becoming, or ceasing to be, UK resident, h the company ceasing to be within the charge to corporation tax, i the company entering administration, and j the company ceasing to be in administration.

2 If subsection (1)(i) applies, the accounting period is treated as having ended immediately before the day on which the company enters administration.

3 For the purposes of this section a company enters administration—

a when it enters administration under Schedule B1 to the Insolvency Act 1986 (c. 45), or b when it is subject to a corresponding procedure, other than one under that Act.

4 For the purposes of this section a company ceases to be in administration—

a when it ceases to be in administration under Schedule B1 to the Insolvency Act 1986, or b when a corresponding event occurs, other than under that Act.

5 This section does not apply if section 12 (companies being wound up) applies.

6 This section is subject to any provision of the Corporation Tax Acts which provides for an accounting period of a company to which this section applies to end at a different time.