For corporation tax purposes, an accounting period begins when the company enters the charge to corporation tax (for example, by beginning to carry on business or becoming UK resident) or (if the company is already within the charge to corporation tax) immediately after the end of the previous accounting period. (Section 9 ( www.practicallaw.com/7-506-4658) , Corporation Tax Act 2009.)
An accounting period ends when the first of the following occurs:
12 months have passed since the beginning of the accounting period.
An accounting date (to which point the company draws up its accounts).
The end of a period for which the company does not make up accounts.
The company beginning or ceasing to trade.
The company beginning or ceasing to be within the charge to corporation tax in relation to its sole trade or all of its trades.
The company beginning or ceasing to be UK resident.
The company ceasing to be within the charge to corporation tax.
The company entering or ceasing to be in administration.
(Section 10 ( www.practicallaw.com/2-523-9793) , CTA 2009.)