A company's accounting reference periods are determined according to its accounting reference date in each calendar year.
The accounting reference date of a company incorporated in Great Britain before 1st April 1996 is—
The accounting reference date of a company incorporated in Northern Ireland before 22nd August 1997 is—
The accounting reference date of a company incorporated—
is the last day of the month in which the anniversary of its incorporation falls.
A company's first accounting reference period is the period of more than six months, but not more than 18 months, beginning with the date of its incorporation and ending with its accounting reference date.
Its subsequent accounting reference periods are successive periods of twelve months beginning immediately after the end of the previous accounting reference period and ending with its accounting reference date.
This section has effect subject to the provisions of section 392 (alteration of accounting reference date).