SCHEDULE 11 Extension of Ring Fence Expenditure Supplement
Finance Act 2015 (2015 c 11) | Legislation

SCHEDULE 11 Extension of Ring Fence Expenditure Supplement

Section 47

Amendments of Chapter 5 of Part 8 of CTA 2010

1

Chapter 5 of Part 8 of CTA 2010 (ring fence expenditure supplement) is amended as follows.

2

In section 307 (overview of Chapter), in subsection (5) for “6†substitute “10â€.

3

In section 309 (accounting periods), in subsection (4), for the words from “Chapter†to the end substitute “Chapter—

(a)     in relation to straddling periods (see sections 311, 324 and 327(4) to (7)), and

(b)     in relation to accounting periods which begin before, but end on or after, 5 December 2013 (see sections 311(1C), 318A and 328A).â€

4

(1)     Section 311 (limit on number of accounting periods for which supplement may be claimed) is amended as follows.

(2)     In subsection (1) for “6†substitute “10â€.

(3)     After subsection (1) insert—

“(1A)     In this Chapter—

“the initial 6 periods†means the first 6 accounting periods (in chronological order) for which the company claims supplement under this Chapter;

“the additional 4 periods†means the 4 accounting periods after the initial 6 periods for which the company claims supplement under this Chapter.

(1B)

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