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:
“There is no such thing as “the Queen’s English.” The property has gone into the hands of a joint stock company and we own the bulk of the shares!”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“International relations is security, it’s trade relations, it’s power games. It’s not good-and-bad. But what I saw in Yugoslavia was pure evil. Not ethnic hatred—that’s only like a label. I really had a feeling there that I am observing unleashed human evil ...”
—Natasha Dudinska (b. c. 1967)