Section 1226 — Corporation Tax Act 2009: Accounts not conforming with GAAP

Accounts not conforming with GAAP 1226 1 Subsection (2) applies if—

a a company incurs expenses of management, and b the company draws up accounts for a particular period of account, and c the expenses of management would have been debited in those accounts if they had been treated in those accounts in accordance with generally accepted accounting practice, but d they are not debited in those accounts in accordance with generally accepted accounting practice.

2 The expenses of management are referable to the accounting period to which they would have been referable under section 1225(1) or (2) if they had been debited in those accounts in accordance with generally accepted accounting practice.