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Legislation
Corporation Tax Act 2010

Crossheading The amount of the income

  • Section 399 The amount of the income: the basic amount
  • Section 400 “PM” in section 399
  • Section 401 Provisions supplementing section 400
  • Section 402 “PM” where relevant company lessee under long funding lease etc
  • Section 403 “TWDV” in section 399
  • Section 404 Amount to be nil if basic amount negative
  • Section 405 Adjustment to the basic amount: qualifying 75% subsidiaries
  • Section 406 Adjustment to the basic amount: consortium relationships
  • Section 407 Migration
  1. The amount of the income
  2. Amount to be nil if basic amount negative

Section 404 | Amount to be nil if basic amount negative

From legislation.gov.uk

If the basic amount given by the formula in section 399(3) is a negative amount, the amount is taken instead to be nil.

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