Finance Leasing Manual - FLM32.21

Periods of account straddling 26 November 1996

For all the purposes of Schedule 12 FA 1997 periods of account straddling 26 November 1996 are split into two periods at that date. The first deemed period runs from the beginning of the actual period of account to 25 November 1996 and the second runs from 26 November 1996 to the end of the actual period of account. In the limiting case of a period of account ending on 26 November 1996 the second deemed period begins at the start of that day and ends at its close.