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Corporation Tax Act 2010

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Changes over time for: Section 356JKB

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Point in time view as at 24/02/2022.

Changes to legislation:

Corporation Tax Act 2010, Section 356JKB is up to date with all changes known to be in force on or before 20 June 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

[F1356JKBEffect of transfer of allowance for transfereeU.K.
This section has no associated Explanatory Notes

(1)Where a transfer of cluster area allowance is made under section 356JK, each transferee is treated as generating in the cluster area concerned, at the beginning of the accounting period or reference period of the transferee that begins with the day on which the disposal is made, cluster area allowance of the amount given by subsection (2).

(2)The amount is—

where—

T is the total amount of cluster area allowance transferred in connection with the disposal;

E3 is the share of equity in the licensed area or sub-area that the transferee has acquired from the transferor;

E1 and E2 are the same as in section 356JK(5).

(3)In this section references to the transferor and the transferees are to be read in accordance with section 356JK(1).]

Textual Amendments

F1Pt. 8 Ch. 9 inserted (26.3.2015) by Finance Act 2015 (c. 11), Sch. 13 para. 2

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