Lessor Companies
If a company carries on a business of leasing plant or machinery, is within the charge to corporation tax in respect of the business and there is a qualifying change of ownership in relation to the company, then an accounting period of the company ends on the day of that qualifying change in ownership, and a new accounting period begins on the following day. There are exceptions to this in Paragraph 40.
Read more about this topic: Accounting Period (UK Taxation)
Famous quotes containing the word companies:
“Socialite women meet socialite men and mate and breed socialite children so that we can fund small opera companies and ballet troupes because there is no government subsidy.”
—Sugar Rautbord, U.S. socialite fund-raiser and self-described “trash” novelist. As quoted in The Great Divide, book 2, section 7, by Studs Terkel (1988)