Section 705F — Corporation Tax Act 2010: Apportionment of amounts

Apportionment of amounts 705F 1 This section applies for the purposes of this Chapter.

2 Any amount for the actual accounting period in column 1 of the following table is to be apportioned to the two notional accounting periods in accordance with the corresponding method of apportionment in column 2 of the table. Row 1. Amount to be apportioned 2. Method of apportionment 1 The amount for the actual accounting period of any adjusted non-trading profits from the company's loan relationships (see section 705G(2))). Apportion the amount in column 1 on a time basis according to the respective lengths of the two notional accounting periods.

2 The amount for the actual accounting period of any adjusted non-trading deficit from the company's loan relationships (see section 705G(3)). Apportion the amount in column 1 on a time basis according to the respective lengths of the two notional accounting periods.

3 The amount of any non-trading debit that falls to be brought into account for the actual accounting period for the purposes of Part 5 of CTA 2009 (loan relationships) in respect of any debtor relationship of the company.

1 If condition A in section 705G(4) is met, apportion the amount in column 1 by reference to the time of accrual of the amount to which the debit relates.

2 If condition B in section 705G(5) is met, apportion the amount in column 1 to the first notional accounting period.

4 The amount of any non-trading deficit carried forward to the actual accounting period under section 457(1) , 463G or 463H of CTA 2009 ( ... carry forward to accounting periods after deficit period). Apportion the whole of the amount in column 1 to the first notional accounting period.

5 The amount of any non-trading credits or debits in respect of intangible fixed assets that fall to be brought into account for the actual accounting period under section 751 of CTA 2009 (non-trading gains and losses) .... Apportion to each notional accounting period the credits or debits that would fall to be brought into account in that period if it were a period of account for which accounts were drawn up in accordance with generally accepted accounting practice.

6 The amount of any non-trading loss on intangible fixed assets carried forward to the actual accounting period under section 753(3) of CTA 2009 .... Apportion the whole of the amount in column 1 to the first notional accounting period.

7 Any other amounts by reference to which the profits or losses of the actual accounting period would (but for this Chapter) be calculated. Apportion the amount in column 1 on a time basis according to the respective lengths of the two notional accounting periods.

3 If any method of apportionment in column 2 of the table in subsection (2) would work unjustly or unreasonably in any case, such other method is to be used as is just and reasonable.

4 For the meaning of certain expressions used in this section, see section 705G.