Related Commentary  

208(1)  Sections 209 and 210 contain rules for the purpose of–

(a)avoiding the need to apportion profits, and

(b)preventing overlap profit from arising,

in relation to the tax year in which a person (“the trader”) starts to carry on a trade and the following tax year.

208(2)  Sections 209 and 210 apply in relation to a tax year if–

(a)the first accounting date is 31st March or 1st, 2nd, 3rd or 4th April, and

(b)that date falls in the tax year in which the trader starts to carry on the trade or in either of the following two tax years,

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