Section 269ZW | Deductions allowance for company not in a group

(1)This section makes provision as to the deductions allowance of a company for an accounting period where section 269ZR (deductions allowance for company in a group) does not apply.

(2)The company's deductions allowance for the accounting period is £5,000,000.

(3)If the accounting period is less than 12 months, the company's deductions allowance for the period is proportionally reduced.

(4)See section 269ZYA for further provision about the deductions allowance for a company without a source of chargeable income.