# Income and Corporation Taxes Act 1988, Paragraph 9

Extent: E+W+S+N.I.

(1) If—
(a) a qualifying company incurs qualifying pre-commencement expenditure in respect of a ring fence trade, and
(b) the expenditure is incurred before the commencement period,
the company may claim supplement under this Part of this Schedule (“pre-commencement supplement”) in respect of one or more pre-commencement periods.
(2) Any pre-commencement supplement allowed on a claim in respect of a pre-commencement period is to be treated as expenditure—
(a) which is incurred by the company in the commencement period, and
(b) which is allowable as a deduction in calculating the profits of the ring fence trade for that period.
(3) The amount of the supplement for any pre-commencement period in respect of which a claim under this paragraph is made is the relevant percentage for that period of the reference amount for that period.
(4) If the pre-commencement period is a period of less than twelve months, the amount of the supplement for the period (apart from this sub-paragraph) is to be reduced proportionally.
(5) Paragraphs 10 to 13 have effect for the purpose of determining the reference amount for a pre-commencement period.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/19C/paragraph/9 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-19C/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.