Section 18D — Corporation Tax Act 2010: The lower limit and the upper limit

The lower limit and the upper limit 18D 1 This section gives the meaning in this Part of “the lower limit” and “ the upper limit ” in relation to an accounting period of a company (“C”).

2 If C has no associated company in the accounting period—

a the lower limit is £50,000, and b the upper limit is £250,000.

3 If C has one or more associated companies in the accounting period—

a the lower limit is— £ 50,000 ( 1 + N ) b the upper limit is— £ 250,000 ( 1 + N ) where N is the number of those associated companies.

4 For an accounting period of less than 12 months the lower limit and the upper limit are proportionately reduced.