Section 356GA — Corporation Tax Act 2010: Reference periods

Reference periods 356GA 1 For the purposes of sections 356GB to 356GD, the accounting period, or (if the company is not a licensee for the whole of the accounting period) the part or parts of the accounting period for which the company is a licensee, are to be divided into reference periods (each of which “belongs to” the site concerned).

2 A reference period is a period of consecutive days that meets the following conditions—

a at the beginning of each day in the period, the company is a licensee in the licensed area;

b at the beginning of each day in the period, the company's share of the equity in the licensed area is the same;

c each day in the period falls within the accounting period.