Section 52 — Corporation Tax Act 2009: Apportionment etc of profits and losses to accounting period

Apportionment etc of profits and losses to accounting period 52 1 This section applies if a period of account of a trade does not coincide with an accounting period.

2 Any of the following steps may be taken if they are necessary in order to arrive at the profits or losses of the accounting period—

a apportioning the profits or losses of a period of account to the parts of that period falling in different accounting periods, and b adding the profits or losses of a period of account (or part of a period) to profits or losses of other periods of account (or parts).

3 The steps must be taken by reference to the number of days in the periods concerned.