{
  "url": "https://openlegislation.uk/taxation-international-and-other-provisions-act-2010/section-166",
  "json_url": "https://openlegislation.uk/taxation-international-and-other-provisions-act-2010/section-166.json",
  "legislation": "ukpga/2010/8",
  "legislation_title": "Taxation (International and Other Provisions) Act 2010",
  "legislation_url": "https://openlegislation.uk/taxation-international-and-other-provisions-act-2010",
  "path": "section/166",
  "kind": "section",
  "number": "166",
  "heading": "Exemption for small and medium-sized enterprises",
  "text": "(1) Section 147(3) and (5) do not apply in calculating for any chargeable period the profits and losses of a potentially advantaged person if that person is a small or medium-sized enterprise for that chargeable period (see section 172).\n(2) Exceptions to subsection (1) are provided—\n(a) in the case of a small enterprise, by sections 167 and 167A, and\n(b) in the case of a medium-sized enterprise, by sections 167 and 168.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 166(2)(a) substituted (with effect in accordance with Sch. 2 paras. 7, 8 of the amending Act) by Finance Act 2012 (c. 14), Sch. 2 para. 3"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Ss. 166-171 excluded (1.4.2010 with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 542(2), 1184(1) (with Sch. 2)"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "S. 166(1) disapplied (24.2.2022) by Finance Act 2022 (c. 3), Sch. 2 para. 41(1)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/8/section/166",
    "retrieved_at": "2026-10-29T09:10:17.008829+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."
}