CTM01520 - Corporation Tax: accounting periods: company winding-up

CTA10/CHAPTER5/PART13 (formerly ICTA88/S342)

An accounting period ends and a new one begins when a company starts to be wound up. After that an accounting period ends only at:

• the expiry of twelve months from its beginning, or
• the completion of the winding-up.

CTA09/S12 (7), formerly ICTA88/S12 (7), provides that winding-up starts:

• when the company passes a resolution for the winding up of the company,
• when a petition for the winding up is presented (if the company has not already passed a resolution and a winding up order is made on the petition), or
• when an act is done in relation to the company for a similar purpose, if the winding up is not under the Insolvency Act 1986.

CTM36100 onwards gives more general guidance.