Section 279E — Corporation Tax Act 2010: The lower limit and the upper limit

The lower limit and the upper limit 279E 1 This section gives the meaning in this Chapter of “the lower limit” and “ the upper limit ” in relation to an accounting period of a company (“A”).

2 If A 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 A has one or more associated companies in the accounting period—

a the lower limit is— £ 300,000 ( 1 + N ) and b the upper limit is— £ 1, 500,000 ( 1 + N ) where N is the number of those related 51% group companies.

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