SCHEDULES

SCHEDULE 1Small profits rate for non-ring fence profits

PART 3Consequential amendments

16CAA 2001

1

Section 99 (long-life assets: the monetary limit) is amended as follows.

2

In subsection (4)—

a

for “In the case of a company (“C”), if, in a chargeable period, one or more companies are related 51% group companies of C” substitute “If, in a chargeable period, a company has one or more associated companies”, and

b

in the definition of “N”, for “number of related 51% group” substitute “number of associated”.

3

After that subsection insert—

4A

The rules in Part 3A of CTA 2010 (see sections 18E to 18J) which apply for determining whether a company is another company’s associated company in an accounting period for the purposes of section 18D of that Act apply for the purposes of subsection (4).