{
  "url": "https://openlegislation.uk/corporation-tax-act-2009/section-1042G",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2009/section-1042G.json",
  "legislation": "ukpga/2009/4",
  "legislation_title": "Corporation Tax Act 2009",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2009",
  "path": "section/1042G",
  "kind": "section",
  "number": "1042G",
  "heading": "Percentage of qualifying expenditure translated into credit",
  "text": "(1) The relevant percentage for the purposes of section 1042B(5) is—\n(a) 49%, in the case of a ring fence trade within the meaning given by section 277 of CTA 2010, or\n(b) 20%, in any other case.\n(2) The Treasury may by regulations replace the percentage for the time being specified in subsection (1)(a) or (b) with a different percentage.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 13 Ch. 1A inserted (with effect in relation to accounting periods beginning on or after 1.4.2024) by Finance Act 2024 (c. 3), Sch. 1 paras. 5, 16 (with Sch. 1 para. 18); S.I. 2024/286, reg. 2"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/4/section/1042G",
    "retrieved_at": "2026-10-29T09:11:19.560467+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}