- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
16(1)In section 1119—
(a)in subsection (1), at the end insert “(and see sections 1120A and 1120B)”;
(b)in subsection (2), for “section 1120” substitute “sections 1120 to 1120B”.
(2)In section 1120 (qualifications to section 1119)—
(a)after subsection (6) insert—
“(6A)This section is subject to sections 1120A and 1120B.”;
(b)in subsection (7), in the words before paragraph (a), after “section” insert “and in sections 1120A and 1120B”.
(3)After that section insert—
(1)This section applies, in relation to an accounting period, where the following conditions are met.
(2)The first condition is that, for the duration of the accounting period, an enterprise (“E”) is related to a partner enterprise or linked enterprise (“F”).
(3)The second condition is that, at the start of the accounting period, both E and F are small or medium-sized enterprises.
(4)The third condition is that, at the end of the accounting period, E is not a small or medium-sized enterprise by reason only that F has, during the accounting period, exceeded the employee limit or either of the financial limits.
(5)Both E and F are to be treated as if they were small or medium-sized enterprises for the accounting period.
(1)This section applies, in relation to an accounting period, where the following conditions are met.
(2)The first condition is that, at the start of the accounting period, an enterprise (“E”) was not a small or medium-sized enterprise by reason only that a partner enterprise or linked enterprise to which E was related exceeded the employee limit or either of the financial limits.
(3)The second condition is that, during the accounting period, control of E was acquired by a company that, at the time of the acquisition, was a small or medium-sized enterprise.
(4)E is to be treated as if it were a small or medium-sized enterprise for the accounting period.
(5)In subsection (3) “control” has the same meaning as in section 1124 of CTA 2010.”
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: