Search Legislation

Corporation Tax Act 2010

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 357KB

 Help about opening options

Alternative versions:

Status:

Point in time view as at 24/02/2022.

Changes to legislation:

Corporation Tax Act 2010, Section 357KB is up to date with all changes known to be in force on or before 06 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

[F1357KB“Qualifying trade”U.K.
This section has no associated Explanatory Notes

(1)Qualifying trade” means a trade carried on by a company (otherwise than in partnership) where—

(a)the company is within the charge to corporation tax in relation to the trade, and

(b)the trade is not an excluded trade.

(2)If an election by a company for the purposes of this subsection has effect, “qualifying trade” also includes a trade carried on by the company (otherwise than in partnership) where—

(a)the trade is an excluded trade within—

(i)section 357XB (lending and investment),

(ii)section 357XC (investment management), or

(iii)section 357XE (re-insurance trade), and

(b)the trade includes any back-office activities.

(3)An election for the purposes of subsection (2)—

(a)must be made by notice to an officer of Revenue and Customs,

(b)must specify the first accounting period (“the specified accounting period”) in relation to which it is to have effect,

(c)must be made before the end of the period of 12 months beginning with the end of the specified accounting period, and

(d)if made in accordance with paragraphs (a) to (c)—

(i)has effect in relation to the specified accounting period and subsequent accounting periods, and

(ii)is irrevocable.

(4)For the meaning of “excluded trade”, and for power to make provision about the meaning of “back-office activities”, see Chapter 17.]

Textual Amendments

F1Pt. 8B inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 1

Back to top

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?