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HMRC internal manual

Company Taxation Manual

Particular bodies: registered societies: accounting periods of retail co-operative


Some retail co-operative societies prepare accounts at half-yearly or quarterly intervals.  Such periods of account would normally constitute accounting periods for CT purposes (see CTM01500 and CTM01510).  However, accounts comprising twelve months to an agreed terminal date are to be regarded as comprising one accounting period.

The concession is not to apply on commencement, cessation (including amalgamations and transfer of engagements), or on the occasion of a change of accounting date.

Once the concessional basis is claimed in a particular case, the society must undertake that, apart from the circumstances in the second bullet above, it will adhere to the basis consistently.

This is similar to the treatment for other companies with varying accounting dates outlined at CTM01560.