[F1220BLimit on State aidU.K.
(1)The reductions that may be made in the amount of the investor's liability for corporation tax under section 220 or 220A for an accounting period (“the current accounting period”) are limited as follows.
(2)The sum of the following amounts must not exceed [euro]200,000—
(a)so far as it represents aid granted to the investor, the total amount of reductions made in the amount of the investor's liability for corporation tax under section 220 or 220A—
(i)for the current accounting period, or
(ii)any earlier accounting period which ends during the relevant 3-year period, and
(b)the total of any de minimis aid granted to the investor during the relevant 3-year period which does not fall within paragraph (a).
(3)In subsection (2) “the relevant 3-year period” means the period of 3 years ending at the end of the current accounting period.
(4)Subsection (2) is to be read as if it were contained in Article 2 of Commission Regulation (EC) No. 1998/2006 (de minimis aid).]
Textual Amendments
F1S. 220B inserted (with effect in accordance with Sch. 27 para. 13(2)(3) of the amending Act) by Finance Act 2013 (c. 29), Sch. 27 para. 13(1)