SCHEDULES

SCHEDULE 1Small profits rate for non-ring fence profits

PART 3Consequential amendments

CTA 2010

20

1

Section 357BN (profits arising from the exploitation of patents etc: small claims treatment) is amended as follows.

2

In subsection (7)—

a

in paragraph (a), for “no company is a related 51% group company of the company” substitute “ the company has no associated company ”,

b

in paragraph (b), for “one or more companies are related 51% group companies of the company” substitute “ the company has one or more associated companies ”, and

c

in the definition of “N”, for “those related 51% group” substitute “ those associated ”.

3

After subsection (8) insert—

9

The rules in Part 3A (see sections 18E to 18J) which apply for determining whether a company is another company's associated company in an accounting period for the purposes of section 18D apply for the purposes of this section.