[F1269ZWDeductions allowance for company not in a groupU.K.
(1)This section makes provision as to the deductions allowance of a company for an accounting period where section 269ZR (deductions allowance for company in a group) does not apply.
(2)The company's deductions allowance for the accounting period is £5,000,000.
(3)If the accounting period is less than 12 months, the company's deductions allowance for the period is proportionally reduced.
[F2(4)See section 269ZYA for further provision about the deductions allowance for a company without a source of chargeable income.]]
Textual Amendments
F1Pt. 7ZA inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 16
F2S. 269ZW(4) inserted (with effect in relation to accounting periods beginning on or after 1.4.2020) by Finance Act 2020 (c. 14), Sch. 4 paras. 33, 42 (with Sch. 4 paras. 43-46)