The term ‘appropriate tax accounting arrangements’ is defined as ‘accounting arrangements that enable the company's relevant liabilities to be calculated accurately in all material respects’ (FA 2009, Sch. 46, para. 14).

Meaning of ‘accounting arrangements’

Rather unhelpfully, the statutory definition of ‘accounting arrangements’ is simply ‘arrangements for keeping accounting records’ (Sch. 46, para. 14(2)).

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