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Corporation Tax Act 2010
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Changes over time for: Section 269DJ
Version Superseded: 01/04/2023
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- 18/11/2015- Amendment
- 18/11/2015
Point in time - 01/04/2023- Amendment
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Corporation Tax Act 2010, Section 269DJ is up to date with all changes known to be in force on or before 27 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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[F1269DJSurcharge allowance for company not in a group containing other banking companiesU.K.
This section has no associated Explanatory Notes
(1)This section makes provision as to the surcharge allowance of a banking company for a chargeable accounting period where section 269DE (surcharge allowance for banking company in a group containing other banking companies) does not apply.
(2)The banking company's surcharge allowance for the chargeable accounting period is so much of its available surcharge allowance for the period as it specifies in its company tax return as its surcharge allowance for that period.
(3)The banking company's “available surcharge allowance” for the chargeable accounting period is £25,000,000.
(4)If the chargeable accounting period is less than 12 months, the banking company's available surcharge allowance for the period is proportionally reduced.
(5)The sum of—
(a)any amount specified under subsection (2) for the chargeable accounting period, and
(b)any amount that is specified under section 371BI(2) of TIOPA 2010 (calculation of CFC charge on banking companies) for the period,
may not exceed the available surcharge allowance for the period.
(6)Section 269DK contains provision about what happens if the requirement in subsection (5) is not met.]
Textual Amendments
F1Pt. 7A Ch. 4 inserted (with effect in accordance with Sch. 3 Pt. 3 of the amending Act) by Finance (No. 2) Act 2015 (c. 33), Sch. 3 para. 1
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