Section 11 | Treatment of profits from patents etc: small profits rate of corporation tax

(1)In section 357A of CTA 2010 (election for special treatment of profits from patents etc), in subsection (3)—

(a)in the formula, in both places it occurs, for “MR” substitute “AR”;

(b)for the definition of “MR” substitute—

(2)The amendments made by subsection (1) have effect in relation to accounting periods beginning on or after 1 April 2023.