Section 1231 — Corporation Tax Act 2009: Absence of accounts

Absence of accounts 1231 1 This section sets out how section 1229 operates if a company has an accounting period that neither coincides with nor falls within any period of account.

2 Section 1229 operates as if—

a there were a period of account of the company that coincides with that accounting period, and b in calculating for accounting purposes the company's profits and losses for that period of account, amounts were brought into account in accordance with UK generally accepted accounting practice.

3 The references in section 1251(3)(b) (car ... hire) to credits and debits include credits and debits that are deemed to be made by virtue of this section.