(1) This Order may be cited as the Corporation Tax (Variation of the Relevant Percentage) Order 2011.
(2) This Order comes into force on 23rd December 2011 and has effect for accounting periods beginning on or after 1st January 2012.
S.I. 2011/2885
The Corporation Tax (Variation of the Relevant Percentage) Order 2011 (S.I. 2011/2885)
This Order exercises a power conferred by the Corporation Tax Act 2010 (c. 4) to vary the relevant percentage in section 310(1) of that Act for the purposes of computing the amount of ring fence expenditure supplement which may be claimed in accordance with Chapter 5 of Part 8 of the Act. Chapter 5 provides that a company carrying on a ring fence trade may claim a supplement in respect of expenditure and losses incurred in specified circumstances.
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In subsection (1) of section 310 of the Corporation Tax Act 2010 (the relevant percentage), for “6%” substitute “10%”.
Cite this legislation
- Official citation
- S.I. 2011/2885
- Source
- legislation.gov.uk
- Data synced
- Licence
- OGL-3 ↗
The Corporation Tax (Variation of the Relevant Percentage) Order 2011 (legislation.gov.uk, OGL-3). Retrieved via LawPlayer, https://lawplayer.com/uk/act/uksi-2011-2885
This text is synced from legislation.gov.uk. In case of any discrepancy, the official version prevails.
Contains public sector information licensed under the Open Government Licence v3.0 (legislation.gov.uk).