SCHEDULES
F1F1F2SCHEDULE 19C
Sch. 19C inserted (19.7.2006) by Finance Act 2006 (c. 25), s. 154(11), Sch. 19
Part 3Pre-commencement supplement
The mixed pool of qualifying pre-commencement expenditure and supplement previously allowed
10
1
For the purpose of determining the amount of any pre-commencement supplement, a qualifying company is to be taken to have had, at all times in the pre-commencement periods of the company, a continuing mixed pool of—
a
the relevant amount (if any) which the company carries forward under Schedule 19B,
b
qualifying pre-commencement expenditure, and
c
pre-commencement supplement.
2
The pool is to be taken to have consisted of—
a
the relevant amount (if any) which the company carries forward under Schedule 19B,
b
the company's qualifying pre-commencement expenditure, allocated to the pool for each pre-commencement period in accordance with sub-paragraph (3), and
c
the company's pre-commencement supplement, allocated to the pool for each pre-commencement period in accordance with sub-paragraph (4).
3
To allocate qualifying pre-commencement expenditure to the pool for any pre-commencement period, take the following steps—
a
Step 1: count as eligible expenditure for that period so much of the qualifying pre-commencement expenditure mentioned in paragraph 9(1) as was incurred in that period,
b
Step 2: find the total of all the eligible expenditure for that period (amount E),
c
Step 3: if paragraph 11 applies, reduce amount E in accordance with that paragraph,
d
Step 4: if paragraph 12 applies, reduce (or, as the case may be, further reduce) amount E in accordance with that paragraph,
and so much of amount E as remains after making those reductions is to be taken to have been added to the pool in that period.
4
If any pre-commencement supplement is allowed on a claim in respect of a pre-commencement period, the amount of that supplement is to be taken to have been added to the pool in that period.
5
In this paragraph references to the relevant amount (if any) which the company carries forward under Schedule 19B are to the amount in its mixed pool for the purposes of Part 3 of Schedule 19B immediately before 1st January 2006.
Sch. 19C repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 143, Sch. 3 Pt. 1 (with Sch. 2)