FA 2009, Sch. 46 has effect in relation to financial years beginning on or after 21 July 2009 (FA 2009, s. 93(2)).

The term ‘financial year’ is defined by reference to CA 2006, s. 390 and can be taken to be the company's period of account (FA 2009, Sch. 46, para. 18(1); see also SAOG 10400 and 10500). This should not be confused with the company's accounting period for corporation tax purposes.

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