Related Commentary  Related HMRC Manuals

166(1)  Section 147(3) and (5) do not apply in calculating for any chargeable period the profits and losses of a potentially advantaged person if that person is a small or medium-sized enterprise for that chargeable period (see section 172).

166(2)  Exceptions to subsection (1) are provided–

(a)in the case of a small enterprise, by sections 167 and 167A, and

(b)in the case of a medium-sized enterprise, by sections 167 and 168.


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