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HMRC internal manual

Company Taxation Manual

Shadow ACT: computation of: distributions outside an accounting period

Where a distribution is made outside an accounting period it is treated as made in an accounting period matching that of the company’s immediate parent in which the distribution falls, except that the period is shortened to exclude any part included in an actual accounting period of the distributing company. Where the distribution does not fall in an accounting period of the immediate parent, its immediate parent is taken and so on until an accounting period in which the distribution can be treated as falling is found.