Corporation Tax Act 2010 section 357CB

Finance income

Section 357CB previously dealt with the treatment of finance income within the Patent Box regime but has been removed from the legislation.

• Section 357CB originally addressed how finance income was handled under the Patent Box provisions of the Corporation Tax Act 2010.
• The section was omitted in its entirety by the Finance Act 2016, specifically by section 64 and Schedule 9, paragraph 6.
• The removal took effect from 15 September 2016, meaning the provision has had no application from that date onwards.
• Any Patent Box calculations for periods from 15 September 2016 onwards should disregard this former provision entirely.