There are currently no known outstanding effects for the Taxation (International and Other Provisions) Act 2010, Section 371KD.
(1)The threshold amount for a CFC's accounting period is—
(a)10% of the CFC's accounting profits for the accounting period, or
(b)if more, £50,000.
(2)If the accounting period is less than 12 months, the amount specified in subsection (1)(b) is to be reduced proportionately.
(3)In this Chapter references to a CFC's accounting profits for an accounting period are to be read ignoring section 371VD(7) and (8).]
Textual Amendments
F1Pt. 9A inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 20 para. 1 (with ss. 56-58)
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