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Finance Act 2006
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Valid from 19/07/2006
8(1)This paragraph applies for the purposes of condition B in paragraph 6.U.K.
(2)The reference to the relevant company's income is to its income as calculated for corporation tax purposes.
(3)Any apportionment necessary to determine the amount of the relevant company's income attributable to the period of 12 months ending with the relevant day is to be made on a time basis.
(4)But—
(a)that basis does not apply if it would work in an unjust or unreasonable manner in relation to any person, and
(b)in that case the apportionment is to be made instead on a just and reasonable basis.
(5)The proportion of the income that derives from qualifying leased plant or machinery is to be determined on a just and reasonable basis.
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