[F1Routine return figureU.K.
Textual Amendments
F1Pt. 8A inserted (with effect in accordance with Sch. 2 paras. 7, 8 of the amending Act) by Finance Act 2012 (c. 14), Sch. 2 para. 1(1)
357CIRoutine return figureU.K.
(1)To determine the routine return figure in relation to a trade of a company for an accounting period—
Step 1 Take the aggregate of any routine deductions made by the company in calculating the profits of the trade for the accounting period. For the meaning of “routine deductions”, see [F2sections 357BJA and 357BJB] .
Step 2 Multiply that amount by 0.1.
Step 3 Calculate X% of the amount given by Step 2.“X%” is the percentage given by Step 2 in section 357C(1).
(2)In a case where—
(a)the company (“C”) is a member of a group,
(b)another member of the group incurs expenses on behalf of C,
(c)had they been incurred by C, C would have made a deduction in respect of the expenses in calculating the profits of the trade for the accounting period, and
(d)the deduction would have been a routine deduction,
C is to be treated for the purposes of subsection (1) as having made such a routine deduction.
(3)Where expenses are incurred by any member of the group on behalf of C and any other member of the group, subsection (2) applies in relation to so much of the amount of the expenses as on a just and reasonable apportionment may properly be regarded as incurred on behalf of C.
Textual Amendments
F2Words in s. 357CI(1) substituted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 8
F3357CJRoutine deductionsU.K.
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Textual Amendments
F3S. 357CK omitted (15.9.2016) by virtue of Finance Act 2016 (c. 24), Sch. 9 para. 9
F3357CK]Deductions that are not routine deductionsU.K.
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Textual Amendments
F3S. 357CK omitted (15.9.2016) by virtue of Finance Act 2016 (c. 24), Sch. 9 para. 9