Section 357BNA Notional royalty electionF1F2
United Kingdom
(1)
Subsection (2) applies where a company has made a notional royalty election for an accounting period under section 357BN(2)(a).
(2)
In its application for the purposes of determining the relevant IP profits of the trade of the company for the accounting period, section 357BHA (notional royalty) has effect as if—
(a)
in subsection (2) for “the appropriate percentage” there were substituted “ 75% ”, and
(b)
subsections (3) to (6) were omitted.
Annotations
Textual amendments
- F1
Pt. 8A inserted (with effect in accordance with Sch. 2 paras. 7, 8 of the amending Act) by Finance Act 2012 (c. 14), Sch. 2 para. 1(1)
- F2
Pt. 8A Chs. 2A, 2B inserted (with effect in accordance with s. 64(7) of the amending Act) by Finance Act 2016 (c. 24), s. 64(3)