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Corporation Tax Act 2010
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- UK Public General Acts
- 2010 c. 4
- PART 7ZA
- Relevant profits
- Section 269ZFA
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Changes over time for: Section 269ZFA
Alternative versions:
- 12/02/2019- Amendment
- 01/04/2020- Amendment
- 24/02/2022
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Corporation Tax Act 2010, Section 269ZFA is up to date with all changes known to be in force on or before 07 November 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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[F1[F2269ZFA“Relevant profits”U.K.
This section has no associated Explanatory Notes
(1)A company’s “relevant profits” for an accounting period are—
(a)the company’s qualifying profits for the accounting period, less
(b)the company’s deductions allowance for the accounting period (see [F3section 269ZDA]).
[F4But if the allowance mentioned in paragraph (b) exceeds the profits mentioned in paragraph (a), the company’s “relevant profits” for the accounting period are nil.]
(2)A company’s “qualifying profits” for an accounting period are—
(a)the amount given by paragraph (1) of step 1 in section 269ZF(3) in determining the company’s [F5modified total profits] for the accounting period, less
(b)the amount given by paragraph (1) of step 2 in section 269ZF(3) [F6which could be relieved against] those profits for the accounting period.]]
Textual Amendments
F1Pt. 7ZA inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 16
F2S. 269ZFA inserted (with effect in accordance with Sch. 10 para. 32 of the amending Act) by Finance Act 2019 (c. 1), Sch. 10 para. 8
F3Words in s. 269ZFA(1)(b) substituted (with effect in relation to accounting periods beginning on or after 1.4.2020) by Finance Act 2020 (c. 14), Sch. 4 paras. 30(2), 42 (with Sch. 4 paras. 43-46)
F4Words in s. 269ZFA(1) inserted (retrospectively) by Finance Act 2021 (c. 26), Sch. 8 paras. 10, 19
F5Words in s. 269ZFA(2)(a) substituted (with effect in relation to accounting periods beginning on or after 1.4.2020) by Finance Act 2020 (c. 14), Sch. 4 paras. 30(3)(a), 42 (with Sch. 4 paras. 43-46)
F6Words in s. 269ZFA(2)(b) substituted (with effect in relation to accounting periods beginning on or after 1.4.2020) by Finance Act 2020 (c. 14), Sch. 4 paras. 30(3)(b), 42 (with Sch. 4 paras. 43-46)
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