Income and Corporation Taxes Act 1988 (c. 1)

SCHEDULES

SCHEDULE 25 U.K. [F1 Cases where section 747(3) does not apply]

Textual Amendments

F1 Sch. 25 heading substituted (with effect in accordance with Sch. 17 para. 37 of the amending Act) by Finance Act 1998 (c. 36), Sch. 17 para. 25; S.I. 1998/3173, art. 2

Valid from 19/07/2011

[F2 Part 2B U.K. Companies Exploiting Intellectual Property with Limited UK Connection

Textual Amendments

F2 Sch. 25 Pts. 2A, 2B (paras. 12B-12N) inserted (with effect in accordance with Sch. 12 para. 14(2) of the amending Act) by Finance Act 2011 (c. 11), Sch. 12 para. 3

Other business activities U.K.

12K (1) The requirement of this paragraph is that— U.K.

(a) C does not, at any time during the accounting period, carry on any activities otherwise than in the course of its main business, or

(b) if it carries on any such activities (“secondary activities”), the secondary activities condition is met.

(2) The secondary activities condition is that either—

(a) the secondary activities do not, at any time during the accounting period, constitute a substantial part of the activities of C's business taken as a whole, or

(b) section 748(1)(b) or (ba) would apply to prevent an apportionment under section 747(3) falling to be made as regards that period, if C's business consisted only of the secondary activities carried on by it during the accounting period.]