Section 357CI Routine return figureF1
United Kingdom
To determine the routine return figure in relation to a trade of a company for an accounting period—
Step 1 Take the aggregate of any routine deductions made by the company in calculating the profits of the trade for the accounting period. For the meaning of “routine deductions”, see F2sections 357BJA and 357BJB .
Step 2 Multiply that amount by 0.1.
Step 3 Calculate X% of the amount given by Step 2.“X%” is the percentage given by Step 2 in section 357C(1).
In a case where—
the company (“C”) is a member of a group,
another member of the group incurs expenses on behalf of C,
had they been incurred by C, C would have made a deduction in respect of the expenses in calculating the profits of the trade for the accounting period, and
the deduction would have been a routine deduction,
C is to be treated for the purposes of subsection (1) as having made such a routine deduction.
Where expenses are incurred by any member of the group on behalf of C and any other member of the group, subsection (2) applies in relation to so much of the amount of the expenses as on a just and reasonable apportionment may properly be regarded as incurred on behalf of C.
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
Words in s. 357CI(1) substituted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 8
Notes on Chapter 3
Textual amendments
- F2
Words in Pt. 8A Ch. 3 heading inserted (15.9.2016) by Finance Act 2016 (c. 24), Sch. 9 para. 3