Accounting period (UK taxation)

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An accounting period is a period with reference to which United Kingdom corporation tax is charged.^[1] It helps dictate when tax is paid on income and gains. An accounting period begins whenever a company comes within the corporation tax charge, and whenever an accounting period ends without the company ceasing to be within the charge. There are a number of rules about when an accounting period ends, and we look at each of these below.

Often an accounting period coincides with a company's period of account. This is the period for which it draws up accounts,^[2] except for a life assurance company, where it is the period for which it draws up its periodical return.^[3] However, periods of account and accounting periods do not necessarily coincide.