Corporation Tax Act 2010 (c. 4)

Part 3 U.K. Companies with small profits

The lower limit and the upper limit U.K.

24 The lower limit and the upper limit U.K.

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

(2) If the company has no associated company in the accounting period—

(a) the lower limit is £300,000, and

(b) the upper limit is £1,500,000.

(3) If the company has one or more associated companies in the accounting period—

(a) the lower limit is—

and

(b) the upper limit is—

where N is the number of those associated companies.

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