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Finance (No. 2) Act 2010
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- UK Public General Acts
- 2010 c. 31
- SCHEDULE 5
- Paragraph 2
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Amendments of sections 311, 312 and 599A of CTA 2009
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2(1)Section 312 of that Act (determination of credits and debits where amounts not fully recognised) is amended as follows.
(2)In subsection (1), omit paragraph (b) and the “or” before it.
(3)After that subsection insert—
“(1A)Subsection (1B) applies in a case where condition A in section 311(2) is met.
(1B)In determining the debits and credits which a company is to bring into account for any period for the purposes of this Part in respect of the debtor relationship by reference to which that condition is met, the assumption in subsection (2) is to be made.”
(4)In subsection (4)(b)—
(a)for “subsection (1)(a)” substitute “subsection (1)”, and
(b)for “subsection (1)(b)” substitute “subsection (1B)”.
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