Taxation (International and Other Provisions) Act 2010 section 251

Amounts within corporation tax

Section 251 provides supplementary rules for determining which amounts fall within the charge to corporation tax when applying the tax credit relief provisions.

• This section works alongside the rules in section 250(3) and (5) concerning amounts that are within the scope of corporation tax.
• It clarifies which accounting period is relevant when a qualifying payment has been made, specifically the accounting period in which the payment occurred.
• The section simplifies earlier legislation by removing unnecessary wording that previously referred to the accounting period "in relation to the company," as this was considered redundant.
• The provisions were originally based on section 26(8), (9), (10) and (14) of the Finance (No 2) Act 2005, and were amended by the Finance Act 2016.