Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Accounting period definition

What does Accounting period mean? In practice, an accounting period is the span of time for which a company’s corporation tax is calculated and reported in its company tax return. It is a statutory concept for UK corporation tax (applied UK‑wide in England & Wales, Scotland and Northern Ireland) and for Irish corporation tax (defined in the Taxes Consolidation Act 1997). An accounting period usually aligns with the company’s period of account used for financial statements but cannot exceed 12 months. It begins when a company first comes within the charge to corporation tax and normally ends on the earliest of 12 months or the...

UK company audit, auditors and corporate reporting: legal glossary of key terms (CA 2006, FRC, FCA/DTR, UKCG Code, PIEs)

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Practice notes

A Word or phrase Definition

Accounting reference period (ARP): Typically, a 12‑month period within which a company prepares its accounts. If the company’s accounting period does not align with its period of account, or if that period covers more than one financial year, profits must be apportioned accordingly (see accounting reference date (ARD) and Practice Note: Basic principles of corporation tax—overview).
Accounting reference date (ARD): The accounting reference period (ARP) of a company is set by its accounting reference date, which marks the period’s end. Ordinarily, the ARD is the final day of the month containing the anniversary of the company’s incorporation (CA 2006, s 391). For more detail, see Practice Note: A company's financial year.
accounts meeting: The specific general meeting of the company at which its annual accounts and reports are, or are to be, laid in accordance with CA 2006, s 437, most commonly its annual general meeting (AGM).
Annual accounts: CA 2006, s 471 states that ‘annual accounts’ includes any individual accounts prepared by the company for that year, together with any group accounts prepared by the company for that year...

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Web page updated on 22/05/2026

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