Company With More Than One Trade
If a company carrying on more than one trade draws up accounts of any of them to different dates, and does not make up general accounts for the whole of the company's activities, the company may determine that any one of those dates shall be taken into consideration for the purposes of determining whether an accounting period has ended under the rule in the second bullet point above.
If, however, the Board of HMRC is of the opinion, on reasonable grounds, that the date so chosen by the company is inappropriate, they may, if it is reasonable to do so, give notice that the accounting date of another of the company's trades should be used instead.
Read more about this topic: Accounting Period (UK Taxation)
Famous quotes containing the words company and/or trade:
“We’re too unseparate. And going home
From company means coming to our senses.”
—Robert Frost (1874–1963)
“Though in the trade of war I have slain men,
Yet do I hold it very stuff o’ the conscience
To do no contrived murder. I lack iniquity
Sometimes to do me service.”
—William Shakespeare (1564–1616)