Related Commentary  

357BNC(1)  Subsection (2) applies where a company has made a global streaming election for an accounting period under section 357BN(2)(c).

357BNC(2)  In its application for the purpose of determining the relevant IP profits of the trade of the company for the accounting period, this Chapter has effect with the following modifications.

357BNC(3)  In subsection (2) of section 357BF (relevant IP profits)–

(a)omit Step 2,

(b)in Step 3 for “each of the relevant IP income sub-streams” substitute “the relevant IP income stream”,

(c)in Step 4–

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