This is the original version (as it was originally enacted).
(1)This section applies for the purposes of condition B in section 387.
(2)The reference to the relevant company’s income is to its income as calculated for corporation tax purposes.
(3)Any apportionment necessary to determine the amount of the relevant company’s income attributable to the period of 12 months ending with the relevant day is to be made on a time basis.
(4)But—
(a)that basis does not apply if it would work in an unjust or unreasonable way in relation to any person, and
(b)in that case the apportionment is to be made instead on a just and reasonable basis.
(5)The proportion of the income that derives from qualifying leased plant or machinery is to be determined on a just and reasonable basis.
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
