Section 414 — Corporation Tax Act 2010: Partnership's income for condition B in section 410

Partnership's income for condition B in section 410 414 1 This section applies for the purposes of condition B in section 410.

2 The reference to the partnership's income is to its income as calculated for corporation tax purposes.

3 Any apportionment necessary to determine the amount of the partnership's income attributable to the period of 12 months ending with the relevant day is to be made on a time basis.

4 But—

a that basis does not apply if it would work in an unjust or unreasonable way in relation to any person, and b in that case the apportionment is to be made instead on a just and reasonable basis.

5 The proportion of the income that derives from plant or machinery falling within section 410(6) is to be determined on a just and reasonable basis.