Section 1166 Amount of tax credit

United Kingdom

(1)

The amount of the F1BLAGAB tax credit to which a company is entitled for an accounting period is 16% of the amount of the F2qualifying BLAGAB loss for the period.

(2)

The Treasury may by order replace the percentage for the time being specified in subsection (1) with a different percentage.

(3)

An order under subsection (2) may contain incidental, supplemental, consequential and transitional provision and savings.

Annotations

Textual amendments

F1: Words in s. 1166(1) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 203(a)
F2: Words in s. 1166(1) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 203(b)

Notes on Part 14

Textual amendments

F1: Words in Pt. 14 heading inserted (with effect in accordance with Sch. 7 paras. 27, 28 of the amending Act) by Finance Act 2009 (c. 10), Sch. 7 para. 2

Notes on Chapter 4

Textual amendments

F1: Words in Pt. 14 Ch. 4 heading substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 195

Notes on BLAGAB company tax credits

Textual amendments

F1: Words in s. 1164 cross-heading substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 200