PMA: FYA: First-year tax credits: excluded companies
A company may claim first-year tax credits for a chargeable period unless it is an excluded company in that period. Excluded companies are companies that are entitled to make a claim under
- ICTA1988/s488 (disregard of rent etc. of co-operative housing associations),
- ICTA1988/s489 (disregard of rent etc. of self build societies),
- ICTA1988/s505 (tax exemption for charitable companies), or
- ICTA1988/s508 (tax exemption for scientific research associations).