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Legislation
Corporation Tax Act 2010

Crossheading Qualifying changes in partner company's interest in business

  • Section 417 Partner company's income and other companies' matching expense
  • Section 418 Amount of income and expense
  • Section 419 Relief for expense otherwise giving rise to carried forward loss
  • Section 420 Exception: companies carrying on business ceasing to share in its profits
  • Section 421 The amount of the income: the basic amount
  • Section 422 Amount to be nil if basic amount negative
  • Section 423 Adjustment to the basic amount
  • Section 424 The amount of expense
  1. Qualifying changes in partner company's interest in business
  2. Amount to be nil if basic amount negative

Section 422 | Amount to be nil if basic amount negative

From legislation.gov.uk

If the basic amount given by the formula in section 421(3) is a negative amount, the amount is taken instead to be nil.

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