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Version status: Deleted | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2012 - onwards
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22A. Reduction of corporation tax liability in respect of certain trading income.

Deleted from 1 January 2012

(1) In this section -

"income from the sale of goods", in relation to an accounting period of a company, means such income as is income from the sale of those goods in the course of a trade carried on by the company for the purposes of a claim under section 448(3);

"net relevant trading income", in relation to an accounting period of a company, means the excess of the amount of relevant trading income of the company for the accounting period over the aggregate of the amounts of - (a) relevant charges on income paid by the company in the accounting period, and (b) any relevant trading loss incurred by the company in the accounting period;

"relevant charges on income", in relation to an accounting period of a company, means the charges on income paid by the company in the accounting period wholly and exclusively for the purposes of a trade carried on by the company other than so much of those charges as are - (a) charges on income paid for the purposes of the sale of goods

Comparing proposed amendment...