Overview Part 1: New Part 11A of ITA 2007 Section 614DA: Time apportionment where periods of account do not coincide
916.This section deals with situations where the measure of the accountancy rental earnings taxed under Part 11A on the lessor is that shown in the accounts of a connected person or a group of companies as a whole and the period for which those accounts are drawn up is different from the period for which the lessor’s accounts are drawn up. It is based on paragraph 24 of Schedule 12 to FA 1997.
917.In these circumstances the figures are time‑apportioned as necessary to arrive at the measure of accountancy rental earnings for the lessor’s period of account.