Section 371KD | What is “the threshold amount”? ^F1

(1)The threshold amount for a CFC's accounting period is—

(a)10% of the CFC's accounting profits for the accounting period, or

(b)if more, £50,000.

(2)If the accounting period is less than 12 months, the amount specified in subsection (1)(b) is to be reduced proportionately.

(3)In this Chapter references to a CFC's accounting profits for an accounting period are to be read ignoring section 371VD(7) and (8).