357BNB(1)  Subsection (2) applies where a company has made a small claims figure election for an accounting period under section 357BN(2)(b).

357BNB(2)  In its application for the purposes of determining the relevant IP profits of the trade of the company for the accounting period, section 357BF(2) (steps for calculating relevant IP profits) has effect as if in Step 5–

(a)for “marketing assets return figure” there was substituted “small claims figure”, and

(b)for “(see section 357BK)” there was substituted “(see section 357BNB(3))”.

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