The senior accounting officer (SAO) of a qualifying company is personally responsible for the adequacy of the company's tax accounting arrangements under FA 2009, Sch. 46 in relation to financial years beginning after 20 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)). This should not be confused with the company's accounting period for corporation tax purposes.

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