Section 18D | The lower limit and the upper limit ^F1

(1)This section gives the meaning in this Part of “the lower limit” and “the upper limit” in relation to an accounting period of a company (“C”).^F1

(2)If C has no associated company in the accounting period—^F1

(a)the lower limit is £50,000, and^F1

(b)the upper limit is £250,000.^F1

(3)If C has one or more associated companies in the accounting period—^F1

(a)the lower limit is—^F1

(b)the upper limit is—^F1

(4)For an accounting period of less than 12 months the lower limit and the upper limit are proportionately reduced.^F1