43 Allowance
Finance Act 2022 (2022 c 3) | Legislation

Allowance

43  Allowance

(1)     A company within the charge to corporation tax—

(a)     is the allocating member of a group (“group G”) in respect of the allowance for an accounting period (“period A”) if it has been nominated to be the allocating member in accordance with regulations made under subsection (8), and

(b)     if the company is an RP developer, may allocate some or all of the allowance for that period to itself.

(2)     The allowance for period A to be allocated to members of group G is—

(a)     where that period is 12 months, £25,000,000, and

(b)     where that period is less than 12 months, £25,000,000 reduced by a pro rata amount.

(3)     Where—

(a)     an RP developer is a member of group G for an accounting period (“period B”),

(b)     period B ends at the same time as, or during, period A,

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