Corporation Tax Act 2010

[F1 The lower limit and the upper limit U.K.

Textual Amendments

F1 Pt. 8 Ch. 3A inserted (with effect in accordance with Sch. 1 para. 22 of the amending Act) by Finance Act 2014 (c. 26), Sch. 1 para. 5(3)

279E The lower limit and the upper limit U.K.

(1) This section gives the meaning in this Chapter of “the lower limit” and “the upper limit” in relation to an accounting period of a company (“A”).

(2) [F2 If A has no associated company] in the accounting period—

(a) the lower limit is [F3 £50,000], and

(b) the upper limit is [F4 £250,000].

(3) [F5 If A has one or more associated companies] in the accounting period—

(a) the lower limit is—F6

and

(b) the upper limit is—F7

where N is the number of those related 51% group companies.

(4) For an accounting period of less than 12 months the lower limit and the upper limit are proportionately reduced.]

Textual Amendments

F2 Words in s. 279E(2) substituted (with effect in accordance with Sch. 1 para. 34 of the amending Act) by Finance Act 2021 (c. 26), Sch. 1 para. 9(2)(a)

F3 Sum in s. 279E(2)(a) substituted (with effect in accordance with Sch. 1 para. 34 of the amending Act) by Finance Act 2021 (c. 26), Sch. 1 para. 9(2)(b)

F4 Sum in 2. 279E(2)(b) substituted (with effect in accordance with Sch. 1 para. 34 of the amending Act) by Finance Act 2021 (c. 26), Sch. 1 para. 9(2)(c)

F5 Words in s. 279E(3) substituted (with effect in accordance with Sch. 1 para. 34 of the amending Act) by Finance Act 2021 (c. 26), Sch. 1 para. 9(3)(a)

F6 S. 279E(3)(a): "£50,000" substituted for "£300,000" (with effect in accordance with Sch. 1 para. 34 of the amending Act) by Finance Act 2021 (c. 26), Sch. 1 para. 9(3)(b)

F7 S. 279E(3)(b): “£250,000” substituted for “£1,500,000” (with effect in accordance with Sch. 1 para. 34 of the amending Act) by Finance Act 2021 (c. 26), Sch. 1 para. 9(3)(c)