Finance Act 2021

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Amendment of section 959AM of Principal Act (interpretation and miscellaneous (Chapter 7))

71. Section 959AM of the Principal Act is amended by the insertion of the following subsection after subsection (3):

“(3A) Where, apart from this subsection, C or, as the case may be, P in the definitions in subsection (1) of ‘corresponding corporation tax for the preceding accounting period’ and ‘corresponding income tax for the preceding accounting period’ would be 366 in the case where the accounting period concerned contains the date 29 February, then, in that case, C or, as the case may be, P in those definitions shall be deemed to be 365.”.