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Corporation Tax Act 2010
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- UK Public General Acts
- 2010 c. 4
- PART 8B
- CHAPTER 6
- Section 357MB
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Corporation Tax Act 2010, Section 357MB is up to date with all changes known to be in force on or before 16 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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Changes and effects yet to be applied to Section 357MB:
- s. 357CHA omitted by 2024 c. 3 Sch. 2 para. 14(7)
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Whole provisions yet to be inserted into this Act (including any effects on those provisions):
- s. 357CHA omitted by 2024 c. 3 Sch. 2 para. 14(7)
[F1357MBProfit imputed to back-office activitiesU.K.
This section has no associated Explanatory Notes
(1)To determine for the purposes of section 357MA(3) the back-office profits of the qualifying trade for the accounting period, take the following steps—
Step 1 Multiply each back-office deduction by the relevant percentage.
Step 2 Add together each amount calculated under step 1.
(2)In subsection (1)—
“back-office deduction” means a deduction—
(a)to which the company is entitled in calculating the profits of the trade for the period, and
(b)which is in respect of back-office activities;
“the relevant percentage” means 5%.
(3)The Treasury may by regulations amend subsection (2) so as to substitute a different percentage for the percentage for the time being specified there.
(4)Regulations under this section—
(a)may make different provision for different purposes (including, in particular, different trades or different back-office activities);
(b)may make incidental, supplemental, consequential and transitional provision and savings.]
Textual Amendments
F1Pt. 8B inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 1
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