This section has no associated Explanatory Notes
27(1)In section 1100 (large companies: qualifying expenditure “for” an accounting period), for subsection (1) substitute—U.K.
“(1)A company's qualifying Chapter 7 expenditure is “for” an accounting period if it is allowable as a deduction in calculating for corporation tax purposes the profits for the period of a trade carried on by the company.”
(2)Accordingly, the heading of that section becomes “ Qualifying expenditure “for” an accounting period ”.