Related Commentary  Related HMRC Manuals

216(1)  This section applies if–

(a)a change of accounting date occurs in a tax year in which a person carries on a trade,

(b)the tax year is later than the third tax year in which the person carries on the trade, and

(c)the person does not permanently cease to carry on the trade in the tax year.

216(2)  If–

(a)the conditions in section 217 are met (conditions for basis period to end with new accounting date), and

(b)the new accounting date falls less than 12 months after the end of the basis period for the previous tax year,

the basis period is that given by the general rule in section 198.

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