Corporation Tax Act 2010 section 319

The reference amount for a pre-commencement period

Section 319 defines the "reference amount" for a pre-commencement period, which is the figure on which ring fence expenditure supplement can be claimed under section 315.

• The reference amount is the balance in the mixed pool at the end of a pre-commencement accounting period
• It includes any qualifying pre-commencement expenditure allocated to the pool for that period
• It does not include any pre-commencement supplement claimed for that period, as supplement is calculated before being added back to the pool
• The reference amount represents eligible expenditure after any reductions required under sections 317 and 318 have been applied