Explanatory Notes

Corporation Tax Act 2010

2010 CHAPTER 4

3 March 2010

Introduction

Part 9: Leasing plant or machinery

Chapter 4: Sales of lessors: leasing business carried on by a company in partnership
Section 416: Determining the percentage share in the profits or loss of business

1255.This section provides that a company’s “percentage share” in the profits or loss of the business is to be determined on a just and reasonable basis. It is based on paragraph 28 of Schedule 10 to FA 2006.