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Income and Corporation Taxes Act 1988

100 versions · 1988-02-09
2022-07-14
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2015-03-26
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2014-08-01
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2014-01-01
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2013-07-17
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2013-04-06
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2012-07-17
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2012-04-01
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2012-03-14
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2011-08-11
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2011-07-19
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2011-06-16
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2011-02-25
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2010-12-16
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2009-12-01
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2009-11-11
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2009-10-01
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2009-09-01
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2009-08-13
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2009-07-21
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2009-04-23
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2009-04-22
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2009-04-06
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2009-04-01
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2009-02-21
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2009-02-03
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2009-01-01
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2008-12-27
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2008-12-01
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2008-10-29
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2008-10-28
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2008-09-08
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2008-08-12
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2008-07-22
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2008-07-21
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2008-07-08
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2008-07-01
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2008-04-06
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2008-02-19
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2008-01-03
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2008-01-01
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2007-12-28
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2007-12-27
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2007-12-06
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2007-11-29
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2007-10-01
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2007-09-01
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2007-08-14
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2007-08-13
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2007-07-19
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2007-07-17
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2007-04-17
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2007-04-06
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2007-04-01
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2007-03-29
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Changes on 2007-03-29

@@ -4,7 +4,7 @@
### Income tax
#### Case V income from land outside UK: corporation tax.
#### Computation of income tax where no profits in year of assessment.
##### 1
@@ -110,7 +110,7 @@
### Corporation tax
#### Spouses and civil partners.
#### Restriction on withdrawal of relief under section 303.
##### 6
@@ -168,7 +168,7 @@
- (6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Relief for expenses.
#### Capital sums: . . . winding up or partnership change.
##### 9
@@ -206,7 +206,7 @@
- (6) The provisions of the Income Tax Acts applied by this section do not include sections 1 to 5, . . . Part VII or sections 348 to 350 of this Act; and nothing in this section shall be taken to mean that income arising in any period is to be computed by reference to any other period (except in so far as this results from apportioning to different parts of a period income of the whole period).
#### Approval of schemes.
#### Interpretation.
##### 10
@@ -27780,7 +27780,7 @@
## SCHEDULE 31
#### Application of lower rate to income from savings and distributions.
#### The charge to income tax.
##### 1A
@@ -28170,7 +28170,7 @@
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Schedule A.
#### Advance corporation tax and qualifying distributions.
### Connected persons
@@ -28332,7 +28332,7 @@
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Schedule F.
#### Schedule E.
##### 56A
@@ -28836,7 +28836,7 @@
- (3) Relevant expenditure is expenditure incurred in making to the agent any payment in respect of expenses which have been or are to be incurred by the agent in connection with his functions under the scheme.
#### Saving for pre-1963 leases, and special relief for individuals.
#### Rules for ascertaining duration of leases.
##### 87A
@@ -28856,7 +28856,7 @@
- “taxed receipt” (see section 287(4) of that Act).
#### Appeals against determinations under sections 34 to 36 or Chapter 4 of Part 3 of ITTOIA 2005.
#### Relief for rent etc. not paid.
##### 88A
@@ -29506,7 +29506,7 @@
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Treasury directions as respects Northern Ireland securities.
#### Commencement of direction under section 50 or 51.
### Limited liability partnerships
@@ -30034,7 +30034,7 @@
#### Payments to Export Credit Guarantee Department.
#### Paying agents.
#### Definitions.
##### 140A
@@ -33590,7 +33590,7 @@
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Relief for contributions in respect of share option gains.
#### Exemptions from section 148.
##### 440A
@@ -34076,7 +34076,7 @@
- (13) For the purposes of this section an insurance company which has elected under section 83YA(9) of the Finance Act 1989 (changes in value of assets brought into account: non-profit companies) to be treated as a non-profit company in relation to a period of account is to be regarded as a non-profit company in relation to the period of account.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Relief for necessary expenses.
##### 432F
@@ -34128,7 +34128,7 @@
- (8) Condition C is that the surplus arising since the last valuation shown in line 34 of the Form 58 of the non-profit fund, or any of the non-profit funds, in relation to which condition A or B is met in the periodical return for the current period of account is a negative amount.
#### U.K. company distributions not generally chargeable to corporation tax.
#### Application of lower rate to company distributions.
##### 434AZB
@@ -35774,7 +35774,7 @@
- (9) If a friendly society which (or a branch of which) has made an election under subsection (1) or (2) above becomes an incorporated friendly society, the election shall have effect in relation to the incorporated friendly society as it had effect in relation to the society (or branch) which made the election (and accordingly, in relation to accounting periods of the incorporated friendly society, “*the society*” in subsection (8)(a) and (b) above shall be read as referring to the incorporated friendly society).
#### Tax credits for certain recipients of qualifying distributions.
#### Dividend or bonus granted by industrial and provident society
##### 465A
@@ -35796,7 +35796,7 @@
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### No tax credit for borrower under stock lending arrangement or interim holder under repurchase agreement.
#### Restrictions on the use of tax credits by pension funds.
##### 468C
@@ -35850,7 +35850,7 @@
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Tax credits for non-U.K. residents.
#### Consequences of certain arrangements to pass on the value of a tax credit.
##### 468M
@@ -36070,13 +36070,13 @@
- (4) For the purposes of this section, crediting interest shall be treated as paying it.
#### Procedure for making election.
#### Election by company paying dividend.
##### 480C
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Treatment of cash dividend retained and then later paid out
#### Application of sections 251B and 251C
##### 482A
@@ -36150,7 +36150,7 @@
Schedule 19C to this Act (ring fence expenditure supplement) shall have effect.
#### “Gross rate” and “gross amount” of distributions to include ACT.
#### Interpretation of Part VI.
##### 501A
@@ -37022,9 +37022,9 @@
#### Transfer of relief under section 257A.
#### Indexation of amounts in sections 257 , 257A and 257AB.
#### Life assurance premiums paid by employer
#### Transfer of relief under section 257A.
#### Life assurance premiums.
#### Expenditure and houses of ministers of religion.
@@ -37996,7 +37996,7 @@
- (9) In section 195 of ITA 2007 as applied by subsection (7) for the purposes mentioned in subsection (8), references to the issuing company are to be read as references to the company mentioned in subsection (1).
#### Form of relief.
#### Eligibility for relief.
##### 576C
@@ -38208,7 +38208,7 @@
- (5) For the purposes of the definition of “trading group” in subsection (1), any trade carried on by a subsidiary which is an excluded company is treated as not constituting a trade.
#### Individuals qualifying for relief.
#### Restriction of relief where amounts raised exceed permitted maximum.
##### 577A
@@ -38314,7 +38314,7 @@
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Valuation of interests in land for purposes of section 294(1)(b).
#### Companies with interests in land.
##### 581A
@@ -38616,7 +38616,7 @@
- (12) This section shall be construed as one with section 587B.
#### Divers and diving supervisors.
#### Taxation of consideration for certain restrictive undertakings.
##### 589A
@@ -38706,7 +38706,7 @@
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Charges on income: interest payable to non-residents.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
##### 596A
@@ -38938,7 +38938,7 @@
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Exceptions to section 349 for payments between companies etc
#### Extension of section 349: proceeds of sale of UK patent rights
#### The conditions mentioned in section 349A(1)
@@ -39556,11 +39556,11 @@
- (4) For the purposes of this section “proceedings in Northern Ireland” means proceedings as respects which the place given by the rules in Schedule 3 to the Management Act is in Northern Ireland.
#### Section 349A(1): consequences of reasonable but incorrect belief
#### Loan to buy machinery or plant.
#### Loan to buy life annuity.
#### Directions disapplying section 349A(1)
#### Relief where borrower deceased.
#### Loan to pay inheritance tax.
##### 722A
@@ -39650,7 +39650,7 @@
notwithstanding that it was not he who sold them.
#### Interest ceasing to be relevant loan interest, etc.
#### Interest which never has been relevant loan interest etc.
##### 730A
@@ -40462,7 +40462,7 @@
- “*relevant transactions*” means—the transfer, andany associated operations.
#### Set-off against general income.
#### Losses from overseas property business.
##### 747A
@@ -40684,7 +40684,7 @@
- (b) they are otherwise directed by the company to perform duties on its behalf in the territory.
#### Carry-forward against subsequent profits.
#### Restriction of set-off of allowances against general income
##### 751AA
@@ -40848,7 +40848,7 @@
- (6) “*Relevant transaction*” has the meaning given by paragraph 15E of Schedule 25 (and it does not matter if the transaction occurs pursuant to an agreement entered into by the controlled foreign company before the relevant time (within the meaning of paragraph 15G of that Schedule)).
#### Losses other than terminal losses.
#### Losses from overseas property business.
##### 751B
@@ -41558,7 +41558,7 @@
- (b) where notice is given to the body corporate by the Board, give to the Board within such period as is prescribed by regulations made by the Board (or such longer period as the Board may in the case allow) such further particulars relating to the transaction, to related transactions, or to persons connected with the transaction or related transactions, as the Board may require.
#### Write-off of government investment.
#### Dealings in commodity futures etc: withdrawal of loss relief.
##### 767A
@@ -42538,7 +42538,7 @@
#### Section 432B: apportionment of business transfer-in
#### Section 432B: apportionment of business transfer-in
#### Profits reserved for policy holders and annuitants.
##### 793A
@@ -43982,7 +43982,7 @@
#### Transfers of life assurance business: Case VI losses of the transferor
#### Transfers of life assurance business: Case I losses of the transferor
#### Transfers of business: deemed periodical return
##### 826A
@@ -44026,7 +44026,7 @@
- (6) This section does not apply for the purposes of corporation tax.
#### Retained assets
#### Transfers of business: election for transferee to pay tax of transferor
##### 834A
@@ -44188,7 +44188,7 @@
- (5) For the purposes of this section the reference to section 583 of ITEPA 2003 is a reference to that section only where the paying scheme (see subsection (3) of that section) is a pilots' benefit fund (see section 587 of that Act).
#### Transfers of business: transferor shares are assets of transferee's long-term insurance fund etc
#### Transfer schemes transferring part of business: reduction in income of transferee
##### 837A
@@ -45364,7 +45364,7 @@
## SCHEDULE 4A
#### Valuation of oil disposed of or appropriated in certain circumstances.
#### Treatment of oil extraction activities etc. for tax purposes.
##### 1
@@ -47314,7 +47314,7 @@
## SCHEDULE 12AA
#### Tax representatives.
#### Regulations in relation to qualifying policies
##### 1
@@ -47328,7 +47328,7 @@
“*Business travel*” means travelling the expenses of which, if incurred and defrayed by the employee in question out of the emoluments of his employment, would (in the absence of sections 197AD to 197AF) be deductible under section 198(1) (general relief for necessary expenses).
#### Overseas life assurance business: life policies.
#### Non-resident policies and off-shore capital redemption policies.
##### 3
@@ -47407,7 +47407,7 @@
- (2) Section 168(6) (when cars and vans are made available for private use and are made available by reason of employment) applies for the purposes of sub-paragraph (1).
#### Conditions to be satisfied by firms.
#### Conditions to be satisfied by partners who are individuals.
##### 7
@@ -51242,7 +51242,7 @@
## Part 2 — Application and interpretation
#### Meaning of “asset”, “capital sum” and “lease” for purposes of sections 781 to 784.
#### Leased assets subject to hire-purchase agreements.
##### 2
@@ -74512,537 +74512,537 @@
#### U.K. company distributions not generally chargeable to corporation tax.
#### Conditional acquisition of shares.
#### Application of lower rate to company distributions.
#### Section 209(3AA): hedging arrangements
#### Chargeable payments connected with exempt distributions.
#### Stock dividends: distributions.
#### Returns.
#### Meaning of “adjusted net income”
#### Children’s tax credit.
#### Children’s tax credit.
#### Transitional relief: husband with excess allowances.
#### Qualifying policies.
#### Eligibility for relief.
#### Aggregation of wife’s income with husband’s.
#### Aggregation of wife’s income with husband’s.
#### Attribution of relief to shares.
#### Provisions supplementary to sections 293 and 297.
#### Withdrawal of relief.
#### Tax on companies in administration
#### The conditions mentioned in section 349A(1)
#### Transfers of trade to obtain balancing allowances
#### Company reconstructions: supplemental.
#### Transfers of trade to obtain balancing allowances
#### Directions disapplying section 349A(1)
#### Directions disapplying section 349A(1)
#### Substitution of security: supplemental.
#### Relief where borrower deceased.
#### Loan to pay inheritance tax.
#### Second loans.
#### Interest which never has been relevant loan interest etc.
#### Losses from overseas property business.
#### Losses from overseas property business.
#### Treatment of interest as a loss for purposes of carry-forward and carry-back.
#### Extension of right of set-off to capital allowances.
#### Losses of ring fence trade: set off against profits of an earlier accounting period
#### Terminal losses.
#### Transactions in deposits with and without certificates or in debts.
#### Close companies.
#### Computation of gross profits.
#### Meaning of “participator”, “associate”, “director” and “loan creditor”.
#### “Distribution” to include certain expenses of close companies.
#### Reduced loss relief for additions to non-profit funds
#### Sections 434AZA and 434AZB: supplementary
#### Determination of policy holders’ share for purposes of s.438B
#### Life reinsurance business: separate charge on profits.
#### Equalisation reserves for general business.
#### Retained assets
#### Taxation in respect of other business.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Tariff receipts and tax-exempt tariffing receipts
#### Cases where ss. 502B to 502G do not apply: lessor also lessee under non-long funding lease
#### Conditions to be satisfied by individuals.
#### Conditions to be satisfied by companies.
#### General powers to make regulations under Chapter IV.
#### Section 785B: expectation that relevant capital payment will not be paid
#### Offshore income gains: application of transfer of assets abroad provisions
#### Income treated as arising under section 761(1): remittance basis
#### Provision not at arm’s length.
#### Form of relief.
#### Attribution of relief to shares.
#### Interpretation of Chapter III.
#### Company reconstructions: supplemental.
#### Losses from UK property business.
#### Losses etc. which may be surrendered by way of group relief.
#### Loans to participators etc.
#### Determination of policy holders’ share for purposes of s.438B
#### Securities.
#### Taxation in respect of other business.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Lessee under long funding finance lease: limit on deductions
#### General powers to make regulations under Chapter IV.
#### Meaning of “construction operations”.
#### Change in ownership of company carrying on property business.
#### Change in company ownership: postponed corporation tax.
#### Supplementary provisions.
#### Provisions supplementary to section 138.
#### Travel expenses of employees not domiciled in the United Kingdom.
#### U.K. company distributions not generally chargeable to corporation tax.
#### Meaning of “distribution”.
#### Election by company paying dividend.
#### Returns.
#### Further interpretation of sections 135 to 139.
#### Application of lower rate to company distributions.
#### Section 209(3AA): link to shares of company or associated company
#### Exempt distributions: division of business
#### Stock dividends: distributions.
#### Interpretation of sections 249 and 250.
#### Meaning of “the minimum amount”
#### Children’s tax credit.
#### Married couple’s allowance(pre-5th December 2005 marriages).
#### Transitional relief: the elderly.
#### Early conversion or surrender of life policies.
#### Eligibility for relief.
#### Aggregation of wife’s income with husband’s.
#### Transfer of reliefs.
#### Minimum and maximum subscriptions.
#### Disposal of shares.
#### Relief for contributions in respect of share option gains.
#### Further interpretation of sections 135 to 139.
#### Relief for necessary expenses.
## [SCHEDULE 19A
#### Change in ownership of company with unused non-trading loss on intangible fixed assets
#### Relief by agreement with other territories.
#### Exceptions from the general charge.
#### Provisions supplementary to section 138.
#### Interpretation of sections 251A to 251C
#### Interpretation of sections 251A to 251C
#### Relief for contributions in respect of share option gains.
#### Meaning of “distribution”.
#### Married couple's allowance (post-5th December 2005 marriages and civil partnerships etc.)
#### Tax on companies in administration
#### Qualifying maintenance payments.
#### Payments out of profits or gains brought into charge to income tax: deduction of tax.
#### Payments not out of profits or gains brought into charge to income tax, and annual interest.
#### Extension of section 349: proceeds of sale of UK patent rights
#### The conditions mentioned in section 349A(1)
#### Treatment of interest as a loss for purposes of carry-forward and carry-back.
#### Apportionment of certain income, deductions and interest.
#### Interpretative provisions relating to insurance companies.
#### Securities.
#### Transfers of life assurance business: Case VI losses of the transferor
#### Taxation in respect of other business.
#### Taxation in respect of other business: incorporated friendly societies qualifying for exemption.
#### Transfers of other business
#### Transfers of other business
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Lessee under long funding finance lease: termination
#### Lessee under long funding finance lease: limit on deductions
#### Deductions from profits of contributions paid under certified schemes.
#### General powers to make regulations under Chapter IV.
#### General powers to make regulations under Chapter IV.
#### Meaning of “construction operations”.
#### Relief by agreement with other territories.
#### Section 785B: expectation that relevant capital payment will not be paid
#### Arrangements made under old law.
#### Interpretation of credit code.
#### Dividends paid out of transferred profits.
#### Payments not out of profits or gains brought into charge to income tax, and annual interest.
#### Payments out of profits or gains brought into charge to income tax: deduction of tax.
#### Exclusions from section 423.
#### Interpretative provisions relating to insurance companies.
#### Apportionment of income and gains.
#### Modifications for change of tax basis
#### Election as to tax exempt business.
#### Life or endowment business: application of the Corporation Tax Acts.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Letting of furnished holiday accommodation treated as trade for certain income tax purposes
#### Charities: general.
#### Relief for payments in respect of designs.
#### Deductions from profits of contributions paid under certified schemes.
#### Provisions supplementary to sections 573 to 575.
#### Schemes and arrangements designed to increase relief
#### Insurance companies carrying on more than one category of business: restriction of credit.
#### Exemptions from section 148.
#### Giving effect to mileage allowance relief
#### Limited exemption for computer equipment.
#### Taxation of profit-related pay.
#### Interpretation.
#### Relief for contributions in respect of share option gains.
#### Elections as to transfer of relief under section 257A or 257AB.
#### Withdrawal of relief.
#### Tax on companies in administration
#### The conditions mentioned in section 349A(1)
#### Transfers of trade to obtain balancing allowances
#### Company reconstructions: supplemental.
#### Company reconstructions involving business of leasing plant or machinery
#### Directions disapplying section 349A(1)
#### Directions disapplying section 349A(1)
#### Substitution of security: supplemental.
#### Relief where borrower deceased.
#### Loan to pay inheritance tax.
#### Home improvement loans.
#### Interest which never has been relevant loan interest etc.
#### Losses from overseas property business.
#### Losses from overseas property business.
#### Treatment of interest as a loss for purposes of carry-forward and carry-back.
#### Restrictions on right of set-off.
#### Losses of ring fence trade: set off against profits of an earlier accounting period
#### Leasing contracts and company reconstructions.
#### Transactions in deposits with and without certificates or in debts.
#### Close companies.
#### Limits on group relief.
#### Meaning of “participator”, “associate”, “director” and “loan creditor”.
#### “Distribution” to include certain expenses of close companies.
#### Computation of losses and limitation on relief.
#### Additions to non-profit funds: amount of loss reduction
#### Determination of policy holders’ share for purposes of s.438B
#### Taxation of pure reinsurance business.
#### Modification of s. 444BA for mutual or overseas business and for non-resident companies.
#### Retained assets
#### Taxation in respect of other business.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Exploration expenditure supplement
#### Cases where ss. 502B to 502G do not apply: plant or machinery held as trading stock
#### Conditions to be satisfied by individuals.
#### Conditions to be satisfied by companies.
#### General powers to make regulations under Chapter IV.
#### Transactions associated with loans or credit.
#### Offshore income gains: application of transfer of assets abroad provisions
#### Income treated as arising under section 761(1): remittance basis
#### Provision not at arm’s length.
#### Form of relief.
#### Certain quoted companies not to be close companies.
#### Section 432B apportionment: income of non-participating funds.
#### Transfers of business involving excess assets
#### Overseas life assurance business.
#### Election as to tax exempt business.
#### Old societies.
#### Assets of branch of registered friendly society to be treated as assets of society after incorporation.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Transactions with substantial donors
#### Charitable and non-charitable expenditure
#### Introductory.
#### Qualifying trading companies
#### Provisions supplementary to sections 573 to 575.
#### The trading requirement
#### Relief by agreement with other territories.
#### Foreign tax on items giving rise to a non-trading credit: intangible fixed assets
#### Dividends paid out of transferred profits.
#### Limited exemption for computer equipment.
#### Provisions supplementary to section 138.
#### Attribution of relief to shares.
#### Interpretation of Chapter III.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Losses from UK property business.
#### Amounts eligible for group relief: trading losses.
#### Loans to participators etc.
#### Income or gains arising from property investment LLP
#### Securities.
#### Taxation in respect of other business.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Exceptions from section 419.
#### Section 432B apportionment: income of non-participating funds.
#### Exemption for trade unions and employers’ associations.
#### Certified unit trusts: corporation tax.
#### Dividends paid to investment trusts.
#### Court common investment funds.
#### Supplementary provisions.
#### Audit powers in relation to non-residents.
#### Lessee under long funding finance lease: limit on deductions
#### General powers to make regulations under Chapter IV.
#### Meaning of “construction operations”.
#### Change in ownership of company carrying on property business.
#### Change in company ownership: postponed corporation tax.
#### Supplementary provisions.
#### Provisions supplementary to section 138.
#### Travel expenses of employees not domiciled in the United Kingdom.
#### U.K. company distributions not generally chargeable to corporation tax.
#### Meaning of “distribution”.
#### Election by company paying dividend.
#### Returns.
#### Further interpretation of sections 135 to 139.
#### Relief for contributions in respect of share option gains.
#### Further interpretation of sections 135 to 139.
#### Relief for necessary expenses.
## [SCHEDULE 19A
#### Change in ownership of company with unused non-trading loss on intangible fixed assets
#### Relief by agreement with other territories.
#### Exceptions from the general charge.
#### Provisions supplementary to section 138.
#### Interpretation of sections 251A to 251C
#### Interpretation of sections 251A to 251C
#### Relief for contributions in respect of share option gains.
#### Meaning of “distribution”.
#### Married couple's allowance (post-5th December 2005 marriages and civil partnerships etc.)
#### Tax on companies in administration
#### Qualifying maintenance payments.
#### Payments out of profits or gains brought into charge to income tax: deduction of tax.
#### Payments not out of profits or gains brought into charge to income tax, and annual interest.
#### Extension of section 349: proceeds of sale of UK patent rights
#### The conditions mentioned in section 349A(1)
#### Losses from trade etc. carried on abroad
#### Exclusions from section 423.
#### Election that assets not be foreign business assets
#### Securities.
#### Transfers of life assurance business: Case VI losses of the transferor
#### Taxation in respect of other business.
#### Taxation in respect of other business: incorporated friendly societies etc.
#### Transfers of other business
#### Conditions for tax exempt business.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Lessee under long funding finance lease: termination
#### Lessee under long funding finance lease: termination
#### Deductions from profits of contributions paid under certified schemes.
#### General powers to make regulations under Chapter IV.
#### General powers to make regulations under Chapter IV.
#### Deductions from profits of contributions paid under certified schemes.
#### Relief by agreement with other territories.
#### Section 785B: expectation that relevant capital payment will not be paid
#### Arrangements made under old law.
#### Reduction of United Kingdom taxes by amount of credit due.
#### Dividends paid out of transferred profits.
#### Payments not out of profits or gains brought into charge to income tax, and annual interest.
#### Payments out of profits or gains brought into charge to income tax: deduction of tax.
#### Exclusions from section 423.
#### Interpretative provisions relating to insurance companies.
#### Schedule A business or overseas property business.
#### Modifications where tax charged under Case I of Schedule D.
#### Election as to tax exempt business.
#### Maximum benefits payable to members.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Letting of furnished holiday accommodation treated as trade for certain income tax purposes
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Income arising under settlement where settlor retains an interest.
#### Income arising under settlement where settlor retains an interest.
#### Revocable settlements allowing release of obligation.
#### Payments to unmarried minor children of settlor.
#### Repayment supplements: companies.
#### Application of Income Tax Acts to public departments and avoidance of exempting provisions.
#### Interest on tax overpaid.
#### Interest on payments in respect of corporation tax and meaning of “the material date".
#### Application of Income Tax Acts to public departments and avoidance of exempting provisions.
#### Substituted retirement annuity contracts.
#### Revocable settlements allowing release of obligation.
#### Repayment supplements: companies.
#### Interest on payments in respect of corporation tax and meaning of “the material date".
#### Territorial sea and designated areas.
#### Interest on tax overpaid.
#### Schedule C.
#### Fractions of a pound, and yearly assessments.
#### Restrictions on relief
#### Restrictions on relief
#### Rules for ascertaining duration of leases.
#### Tax treatment of receipts and outgoings on sale of land.
#### Securities of foreign states.
#### Deep discount securities.
#### Discounted bills of exchange.
#### Expenses of insurance companies
#### Discounted bills of exchange.
#### Debts of overseas governments etc.
#### Expenses connected with living accommodation.
#### Restrictions on the use of tax credits by pension funds.
#### Section 432B apportionment: participating funds.
#### Section 432B apportionment: value of non-participating funds.
#### Interpretation.
#### Building societies: time for payment of tax.
#### Sale and lease-back.
#### Charities: general.
#### Taxation of design royalties where owner abroad.
#### Deductions from profits of contributions paid under certified schemes.
#### Provisions supplementary to sections 573 to 575.
#### Schemes and arrangements designed to increase relief
#### Insurance companies carrying on more than one category of business: restriction of credit.
#### Exemptions from section 148.
#### Giving effect to mileage allowance relief
#### Limited exemption for computer equipment.
#### Taxation of profit-related pay.
#### Taxation of profit-related pay.
#### Relief for contributions in respect of share option gains.
#### Elections as to transfer of relief under section 257A or 257AB.
#### Application to subsidiaries.
#### Losses from overseas property business.
#### Meaning of “associated company” and “control”.
#### Section 432B apportionment: income of non-participating funds.
#### Apportionment of asset value increase where line 51 amount decreases
#### Modifications in relation to BLAGAB group reinsurers
#### Election as to tax exempt business.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Section 548A: further definitions
#### Income arising under settlement where settlor retains an interest.
#### Revocable settlements allowing release of obligation.
#### Interpretation of the Tax Acts.
#### Interpretation of Income Tax Acts.
#### Old societies.
#### Assets of branch of registered friendly society to be treated as assets of society after incorporation.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Transactions with substantial donors
#### Transactions with substantial donors
#### Determination of reduced rate for building societies and composite rate for banks etc.
#### Manner of making allowances and charges.
#### Relief for expenses.
#### Introductory.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Information: supplementary provisions
#### The qualifying subsidiaries requirement
#### Settlements made after 6th April 1965.
#### Application of section 739 and 740
#### Certain distributions to be treated as income to which section 686 applies.
#### Earnings from associated employments.
#### Interpretation of Income Tax Acts.
#### Miscellaneous charges (list for the purposes of certain provisions that formerly referred to Case VI of Schedule D)
#### Interpretation of the Corporation Tax Acts.
#### Meaning of “UK property business” and “overseas property business”
#### Miscellaneous charges (list for the purposes of certain provisions that formerly referred to Case VI of Schedule D)
#### Old societies.
#### Exemption for trade unions and employers’ associations.
#### Certified unit trusts: distributions.
#### Provisions supplementary to section 520.
#### Allowances for expenditure on purchase of patent rights: post-31st March 1986 expenditure.
#### Life policies: chargeable events.
#### Calculation of certain amounts for purposes of sections 540, 542 and 545.
#### Section 548A: further definitions
#### Information: supplementary provisions
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Expenditure on car hire: supplementary
#### Gifts of shares, securities and real property to charities etc
#### Exemption from tax in respect of qualifying premiums.
#### Application of section 686D where settlor has made more than one settlement
#### Schedule 4 directions.
#### Supplementary provisions as to absolute interests in residue.
#### Cancellation of tax advantage.
#### Interpretation of the Tax Acts.
#### Interpretation of Income Tax Acts.
#### Interpretation of the Tax Acts.
#### Interpretation of Income Tax Acts.
#### Interpretation of the Corporation Tax Acts.
#### Authorised unit trusts.
#### Introductory.
#### Information: supplementary provisions
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Qualifying trading companies
#### Provisions supplementary to sections 573 to 575.
#### The trading requirement
#### Arrangements made under old law.
#### Section 796: trade income
#### Separate streaming of dividend so far as representing an ADP dividend of a CFC.
#### Limited exemption for computer equipment.
#### Provisions supplementary to section 138.
#### Attribution of relief to shares.
#### Taxation of borrower when loan under section 419 released etc
#### Section 432B apportionment: income of non-participating funds.
#### Authorised unit trusts.
#### Certified unit trusts: corporation tax.
#### Dividends paid to investment trusts.
#### Transitional provisions relating to unit trusts.
#### Supplementary provisions.
#### Audit powers in relation to non-residents.
#### Lessee under long funding finance lease: limit on deductions
#### Letting of furnished holiday accommodation treated as trade for certain income tax purposes
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Income arising under settlement where settlor retains an interest.
#### Income arising under settlement where settlor retains an interest.
#### Revocable settlements allowing release of obligation.
#### Payments to unmarried minor children of settlor.
#### Repayment supplements: companies.
#### Application of Income Tax Acts to public departments and avoidance of exempting provisions.
#### Interest on tax overpaid.
#### VAT penalties etc.
#### Application of Income Tax Acts to public departments and avoidance of exempting provisions.
#### Substituted retirement annuity contracts.
#### Revocable settlements allowing release of obligation.
#### Repayment supplements: companies.
#### Interest on payments in respect of corporation tax and meaning of “the material date".
#### Territorial sea and designated areas.
#### Interest on tax overpaid.
#### Schedule C.
#### Certain income charged at basic rate.
#### Restrictions on relief
#### Regulations
#### Rules for ascertaining duration of leases.
#### Tax treatment of receipts and outgoings on sale of land.
#### United Kingdom government securities held by non-residents.
#### Disposal or exercise of rights in pursuance of deposits.
#### Discounted bills of exchange.
#### Expenses of insurance companies
#### Discounted bills of exchange.
#### Payments to Export Credit Guarantee Department.
#### Expenses connected with living accommodation.
#### Restrictions on the use of tax credits by pension funds.
#### Section 432B apportionment: value of non-participating funds.
#### Section 432B apportionment: value of non-participating funds.
#### Distribution accounts.
#### Interest paid on deposits with banks etc.
#### Computation of amount available for surrender by way of group relief.
#### Charities: general.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Section 548A: further definitions
#### Payments to unmarried minor children of settlor.
#### Revocable settlements allowing reversion of property.
#### Interpretation of the Tax Acts.
#### Interpretation of Income Tax Acts.
#### Old societies.
#### Assets of branch of registered friendly society to be treated as assets of society after incorporation.
#### Savings banks: exemption from tax.
#### Patent income to be earned income in certain cases.
#### Relief for expenses.
#### Introductory.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Information: supplementary provisions
#### The property managing subsidiaries requirement
#### Settlements made before 7th April 1965 but after 9th April 1946.
#### Sub-funds
#### Certain distributions to be treated as income to which section 686 applies.
#### Earnings from associated employments.
#### Interpretation of Income Tax Acts.
#### Miscellaneous charges (list for the purposes of certain provisions that formerly referred to Case VI of Schedule D)
#### Interpretation of the Corporation Tax Acts.
#### Meaning of “UK property business” and “overseas property business”
#### Meaning of “UK property business” and “overseas property business”
#### Assets of branch of registered friendly society to be treated as assets of society after incorporation.
#### Exemption for trade unions and employers’ associations.
#### Funds of funds: distributions.
#### Provisions supplementary to section 520.
#### Provisions supplementary to section 520.
#### Life policies: chargeable events.
#### Treatment of certain assignments etc involving co-ownership
#### Certain deficiencies allowable as deductions.
#### Information: supplementary provisions
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Statutory redundancy payments.
#### Qualifying interests in land held jointly
#### Exemption from tax in respect of qualifying premiums.
#### Payments under discretionary trusts.
#### Certain income not to be income of settlor etc.
#### Special provisions as to certain interests in residue.
#### Cancellation of tax advantage.
#### Interpretation of the Tax Acts.
#### Interpretation of Income Tax Acts.
#### Interpretation of the Tax Acts.
#### Interpretation of Income Tax Acts.
#### Interpretation of the Corporation Tax Acts.
#### Authorised unit trusts.
#### Introductory.
#### Information: supplementary provisions
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The trading requirement
#### Counselling services for employees.
#### Exemption from tax in respect of qualifying premiums.
#### Application to Scotland.
#### Qualifying courses of training etc.
#### Termination of relief under this Chapter, and transitional provisions.
#### Interpretation.
#### Meaning of “interest”, “transfers with or without accrued interest” etc.
@@ -75264,7 +75264,7 @@
#### Levies and repayments under the Financial Services and Markets Act 2000.
#### Valuation of work in progress at discontinuance of profession or vocation.
#### Provisions supplementary to sections 100 and 101.
#### Tax credits for non-U.K. residents.
@@ -75396,7 +75396,7 @@
#### Building societies: incidental costs of issuing qualifying shares.
#### “Deposit-taker”, “deposit” and “relevant deposit”.
#### Relevant deposits: computation of tax on interest.
#### Non-resident policies and off-shore capital redemption policies.
@@ -75408,872 +75408,872 @@
#### Treatment of price differential on sale and repurchase of securities.
#### Exchange gains and losses on sale and repurchase of securities
#### Persons entitled to exemptions.
#### Interpretation of section 730A.
#### Dealers in securities.
#### Manufactured dividends and interest.
#### Qualifying trade, profession or vocation
#### Adjustment of profits on averaging claim
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Levies and repayments under the Financial Services and Markets Act 2000: investment companies.
#### Costs of establishing share option or profit sharing schemes: relief.
#### Costs of establishing employee share ownership trusts: relief.
#### Charitable donations: contributions to agent’s expenses.
#### Restriction on relief: individuals.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
### CHAPTER 1B — PROVISIONS AS TO CAPITAL SUMS PAID TO SETTLOR
### CHAPTER 1C — LIABILITY OF TRUSTEES
#### Cessation of approval: general provisions.
#### Cessation of approval: tax on certain schemes.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Receipts to be treated as income to which section 686 applies
#### Meaning of “settlement day” for purposes of sections 711 to 728.
#### Reduction in chargeable profits for certain financing income
#### Special rule for computing chargeable profits.
#### Imputation of chargeable profits and creditable tax of controlled foreign companies
#### Reduction in chargeable profits following an exempt period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The approved amount: passenger payments
#### Introduction
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
## Part IV — Disallowed debits and non-trading deficits
#### Reduction in chargeable profits: failure to qualify for exemptions
#### Reduction in chargeable profits for certain financing income
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Qualifying vehicles
#### Employment
#### Qualifying vehicles
#### Costs of establishing share option or profit sharing schemes: relief.
#### Charitable donations: contributions to agent’s expenses.
#### Taxable premiums etc.
#### Meaning of “the aggregate amount”
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Introductory.
#### Life policies: chargeable events.
#### Information: supplementary provisions
#### Relief for individuals.
#### Qualifying counselling services etc.
#### Revocable settlements allowing reversion of property.
#### Settlements made before 7th April 1965 but after 9th April 1946.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Treatment of deemed sums and reliefs.
#### The prescribed circumstances.
#### Interest in default.
#### Nominees, trustees etc.
#### Sale and repurchase of securities.
#### Offshore income gains: application of transfer of assets abroad provisions
#### Offshore income gains accruing to persons resident or domiciled abroad.
#### Offshore income gains accruing to persons resident or domiciled abroad.
#### Change in ownership of company carrying on property business.
#### The approved amount: mileage allowance payments
#### The approved amount: mileage allowance payments
#### Qualifying companies
#### Tax year
#### Application of charges where rights to payments transferred.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Application of this Chapter etc. to policies and contracts in which persons other than companies are interested
#### Application of this Chapter etc. to policies and contracts in which persons other than companies are interested
#### The property managing subsidiaries requirement
#### Substituted retirement annuity contracts.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Treatment of deemed sums and reliefs.
#### Variable interest rate.
#### Death.
#### Section 751A: supplementary
#### Apportionment of chargeable profits and creditable tax
#### Returns where it is not established whether acceptable distribution policy applies.
#### Tax year
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
### Manufactured interest on UK securities: general
### Manufactured interest on gilt-edged securities etc.
#### Amount of post-commencement supplement for a post-commencement period
#### Taxable premiums etc.
#### Meaning of “the aggregate amount”
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Regulations in relation to qualifying policies
#### Effect of appointment or arrangements under section 659B.
#### Exemption from tax in respect of qualifying premiums.
#### Certain distributions to be treated as income to which section 686 applies.
#### Application of section 686D where settlor has made more than one settlement
#### Receipts to be treated as income to which section 686 applies
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Transfer of unrealised interest.
#### Transfers of rights to receive distributions in respect of shares
#### Deemed manufactured payments in the case of stock lending arrangements.
#### Offshore income gains: application of transfer of assets abroad provisions
#### Change in company ownership: postponed corporation tax.
#### Change in company ownership: corporation tax.
#### Sales etc. at an undervalue or overvalue.
#### Section 785B: expectation that relevant capital payment will not be paid
#### The approved amount: passenger payments
#### Introduction
#### The approved amount: mileage allowance payments
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Definition of insurance company.
#### Share incentive plans: distributions in respect of unappropriated shares
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Interpretation of section 737A.
#### Change in ownership of company carrying on property business.
#### Provision not at arm’s length.
#### Restriction of relief for payments of interest.
#### Tax year
#### Company vehicles
#### Employment
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### “A significant amount of time”
#### Section 87(2) and (3) and reductions in receipts under ITTOIA 2005
#### “The individual’s contribution to the trade”
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Ceasing to meet the trading requirement because of administration or receivership
#### Business entertaining expenses.
#### Appeals against Board’s notices under section 703.
#### Meaning of “interest”, “transfers with or without accrued interest” etc.
#### Exceptions from sections 713 and 714
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Exemption from sections 739 and 740 (transactions before 5th December 2005)
#### Exemption from sections 739 and 740 (transactions on or after 5th December 2005)
### Introductory
### Payments and other benefits to which section 148 applies
### Payments and other benefits excluded from charge under section 148
### Application of £30,000 threshold
### Exclusion or reduction of charge in case of foreign service
### Valuation of benefits
### Notional interest treated as paid if amount charged in respect of beneficial loan
### Giving effect to the charge to tax
### Reporting requirements
### Interpretation
#### Assets leased to traders and others.
#### The approved amount: passenger payments
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Qualifying companies
#### About this Schedule
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Exemption from sections 739 and 740 (transactions before 5th December 2005)
#### Supplemental provisions.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### About this Schedule
#### Qualifying companies
#### Conditions for approval of retirement benefit schemes.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Prevention of avoidance of income tax.
#### Exemption from sections 739 and 740 (transactions before 5th December 2005)
#### Company vehicles
#### Introduction
#### The non-qualifying pool
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Power to modify sections 727A, 730A, 730BB and 737A to 737C
#### Power to provide for manufactured payments to be eligible for relief.
#### No duplication of charge.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Exemption from sections 739 and 740 (transactions before 5th December 2005)
#### Employment
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Tax credits under Part 1 of Tax Credits Act 2002
#### Nominees, trustees etc.
#### Trading stock.
#### Exception for sale and repurchase of securities.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Reduction in chargeable profits for certain financing income
#### Reduction in chargeable profits: failure to qualify for exemptions
### The appropriate percentage
### Car with CO2 emissions figure
### The lower threshold
### Bi-fuel cars
#### Interpretation of credit code.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Supplement in respect of a post-commencement period
#### The non-qualifying pool
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Qualifying companies
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Manufactured dividends and interest.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Interpretation.
#### Amount of post-commencement supplement for a post-commencement period
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### Amount of post-commencement supplement for a post-commencement period
#### About this Schedule
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
#### Qualifying companies
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Schemes and arrangements designed to increase relief
#### Onshore pooling.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### Supplement in respect of a pre-commencement accounting period
#### Supplement in respect of a post-commencement period
#### Supplement in respect of a post-commencement period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### “The individual’s contribution to the trade”
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Insurance companies carrying on more than one category of business: restriction of credit.
#### Restriction on deduction of interest or dividends from trading income.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Supplement in respect of a pre-commencement accounting period
#### The pool of qualifying E&A losses and the pool of non-qualifying losses
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Change in company ownership: corporation tax.
#### Income treated as arising under section 761(1): remittance basis
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Territorial sea and designated areas.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Recovery of tax credits incorrectly paid.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Section 87(2) and (3) and reductions in receipts under ITTOIA 2005
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Reduction in chargeable profits following an exempt period
#### Reduction in chargeable profits following an exempt period
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Arrangements to avoid section 812.
#### Mutual agreement procedure and presentation of cases under arrangements.
#### Schemes and arrangements designed to increase relief
#### Withdrawal of right to tax credit of certain non-resident companies connected with unitary states.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The non-qualifying pool
#### About this Schedule
#### About this Schedule
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Old references to standard rate tax.
#### Repayment supplements: companies.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Accounting periods
#### The non-qualifying pool
#### About this Schedule
#### Accounting periods
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
#### Amount of post-commencement supplement for a post-commencement period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Conventional basis: general charge on receipts after discontinuance . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Withdrawal of right to tax credit of certain non-resident companies connected with unitary states.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Introduction
#### Adjustment of profits on averaging claim
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Accounting periods
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Restriction of relief for payments of interest.
#### Recovery of tax credits incorrectly paid.
#### Old references to standard rate tax.
#### Reduction of United Kingdom taxes by amount of credit due.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### “Annual value” of land.
#### Introduction
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
#### Supplement in respect of a pre-commencement accounting period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Accounting periods
#### Conventional basis: general charge on receipts after discontinuance . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Power to inspect documents.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Interpretation of the Corporation Tax Acts.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Introduction
#### Qualifying companies
#### Amount of post-commencement supplement for a post-commencement period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Qualifying companies
#### Supplement in respect of a post-commencement period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### “Annual value” of land.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The pool of qualifying E&A losses and the pool of non-qualifying losses
#### Allowable deductions.
#### Partners: meaning of “contribution to the trade”
#### Partners: meaning of “contribution to the trade”
#### Restriction on deduction of interest or dividends from trading income.
#### Miscellaneous charges (list for the purposes of certain provisions that formerly referred to Case VI of Schedule D)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Qualifying trade, profession or vocation
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Supplement in respect of a pre-commencement accounting period
#### Supplement in respect of a post-commencement period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Supplement in respect of a post-commencement period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Restriction on relief: individuals.
#### Partners: meaning of “contribution to the trade”
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Definitions.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Repayment supplements: companies.
#### Local authorities.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Introduction
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Amount of post-commencement supplement for a post-commencement period
#### The pool of qualifying E&A losses and the pool of non-qualifying losses
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
##### 468A
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
##### 468A
- (1) In relation to an open-ended investment company the rate of corporation tax for the financial year 2005 and subsequent financial years shall be deemed to be the rate at which income tax at the lower rate is charged for the year of assessment which begins on 6th April in the financial year concerned (and section 13 shall not apply).
- (2) In this section “*open-ended investment company*” means a company incorporated in the United Kingdom to which section 236 of the Financial Services and Markets Act 2000 applies.
- (3) Each of the parts of an umbrella company shall be regarded for the purposes of this section as an open-ended investment company and the umbrella company as a whole shall not be so regarded (and shall not, unless an enactment expressly provides otherwise, be regarded as a company for any other purpose of the Tax Acts).
- (4) In subsection (3) “*umbrella company*” means an open-ended investment company—
- (a) in respect of which the instrument of incorporation provides arrangements for separate pooling of the contributions of the shareholders and the profits or income out of which payments are to be made to them, and
- (b) the shareholders of which are entitled to exchange rights in one pool for rights in another,
and a reference to part of an umbrella company is a reference to a separate pool.
#### Insurance companies: allocation of expenses etc in computations under Case I of Schedule D.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Qualifying trade, profession or vocation
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### About this Schedule
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Meaning of “research and development”.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### How averaging claim is given effect
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The pool of qualifying E&A losses and the pool of non-qualifying losses
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Levies and repayments under the Financial Services and Markets Act 2000.
#### Costs of establishing share option or profit sharing schemes: relief.
#### Payments to trustees of approved profit sharing schemes.
#### Charitable donations: contributions to agent’s expenses.
#### Restriction on relief: individuals.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
### CHAPTER 1B — PROVISIONS AS TO CAPITAL SUMS PAID TO SETTLOR
### CHAPTER 1C — LIABILITY OF TRUSTEES
#### Cessation of approval: general provisions.
#### Section 591C: supplementary.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Receipts to be treated as income to which section 686 applies
#### Meaning of “settlement day” for purposes of sections 711 to 728.
#### Reduction in chargeable profits for certain financing income
#### Special rule for computing chargeable profits.
#### Special rule for computing chargeable profits.
#### Reduction in chargeable profits following an exempt period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The approved amount: passenger payments
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Qualifying trade, profession or vocation
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Supplement in respect of a pre-commencement accounting period
#### Amount of post-commencement supplement for a post-commencement period
#### The non-qualifying pool
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Introduction
#### Introduction
## Part IV — Disallowed debits and non-trading deficits
#### Reduction in chargeable profits: failure to qualify for exemptions
#### Reduction in chargeable profits for certain financing income
#### Adjustment of profits on averaging claim
#### About this Schedule
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Qualifying vehicles
#### Employment
#### The approved amount: mileage allowance payments
#### Costs of establishing share option or profit sharing schemes: relief.
#### Charitable donations: contributions to agent’s expenses.
#### Taxable premiums etc.
#### Meaning of “the aggregate amount”
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Introductory.
#### Life policies: computation of gain.
#### Information: supplementary provisions
#### Business entertaining expenses.
#### Qualifying counselling services etc.
#### Revocable settlements allowing reversion of property.
#### Settlements made before 7th April 1965 but after 9th April 1946.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Treatment of deemed sums and reliefs.
#### Appeals against Board’s notices under section 703.
#### Unrealised interest in default
#### Nominees, trustees etc.
#### Transfers of rights to receive distributions in respect of shares
#### Offshore income gains: application of transfer of assets abroad provisions
#### Offshore income gains accruing to persons resident or domiciled abroad.
#### Offshore income gains accruing to persons resident or domiciled abroad.
#### Change in ownership of company carrying on property business.
#### The approved amount: mileage allowance payments
#### The approved amount: mileage allowance payments
#### Qualifying companies
#### Tax year
#### Treatment of receipts as earned income.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Application of this Chapter etc. to policies and contracts in which persons other than companies are interested
#### The conditions for being an excepted group life policy
#### The property managing subsidiaries requirement
#### Substituted retirement annuity contracts.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Exceptions from sections 713 and 714
#### Variable interest rate.
#### Trading stock.
#### Section 751A: supplementary
#### Relevant interests.
#### Determinations requiring the sanction of the Board.
#### Tax year
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
### Manufactured interest on UK securities: general
### Manufactured interest on gilt-edged securities etc.
#### Amount of post-commencement supplement for a post-commencement period
#### Taxable premiums etc.
#### Meaning of “the aggregate amount”
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Regulations in relation to qualifying policies
#### Effect of appointment or arrangements under section 659B.
#### Exemption from tax in respect of qualifying premiums.
#### Certain distributions to be treated as income to which section 686 applies.
#### Application of section 686D where settlor has made more than one settlement
#### Receipts to be treated as income to which section 686 applies
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Variable interest rate.
#### Transfers of rights to receive distributions in respect of shares
#### Deemed interest: cash collateral under stock lending arrangements
#### Income treated as arising under section 761(1): remittance basis
#### Change in company ownership: postponed corporation tax.
#### Change in company ownership: postponed corporation tax.
#### Sales etc. at an undervalue or overvalue.
#### Section 785B: expectation that relevant capital payment will not be paid
#### Company vehicles
#### Introduction
#### The approved amount: mileage allowance payments
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Effect of appointment or arrangements under section 659B.
#### Interpretation of section 686B
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Deemed manufactured payments: further provisions.
#### Change in ownership of company with unused non-trading loss on intangible fixed assets
#### Sales etc. at an undervalue or overvalue.
#### Restriction of relief for payments of interest.
#### Tax year
#### Company vehicles
#### Employment
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### “A significant amount of time”
#### Section 87(2) and (3) and reductions in receipts under ITTOIA 2005
#### “A significant amount of time”
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The control and independence requirement
#### Business entertaining expenses.
#### Appeals against Board’s notices under section 703.
#### Meaning of “settlement day” for purposes of sections 711 to 728.
#### Exceptions from sections 713 and 714
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Exemption from sections 739 and 740 (transactions before 5th December 2005)
#### Application of sections 741 and 741A
### Introductory
### Payments and other benefits to which section 148 applies
### Payments and other benefits excluded from charge under section 148
### Application of £30,000 threshold
### Exclusion or reduction of charge in case of foreign service
### Valuation of benefits
### Notional interest treated as paid if amount charged in respect of beneficial loan
### Giving effect to the charge to tax
### Reporting requirements
### Interpretation
#### Leased assets: special cases.
#### The approved amount: passenger payments
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Qualifying companies
#### About this Schedule
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Exemption from sections 739 and 740 (transactions before 5th December 2005)
#### Supplemental provisions.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### About this Schedule
#### Qualifying companies
#### Section 590: supplementary provisions.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Liability of non-transferors.
#### Exemption from sections 739 and 740 (transactions before 5th December 2005)
#### Company vehicles
#### Introduction
#### The non-qualifying pool
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Power to modify sections 727A, 730A, 730BB and 737A to 737C
#### Power to modify sections 727A, 730A, 730BB and 737A to 737C
#### Power to obtain information.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Exemption from sections 739 and 740 (transactions before 5th December 2005)
#### Tax year
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Tax credits under Part 1 of Tax Credits Act 2002
#### Nominees, trustees etc.
#### Trading stock.
#### Information.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Reduction in chargeable profits for certain financing income
#### Reduction in chargeable profits: failure to qualify for exemptions
### The appropriate percentage
### Car with CO2 emissions figure
### The lower threshold
### Bi-fuel cars
#### Interpretation of credit code.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Supplement in respect of a post-commencement period
#### The non-qualifying pool
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Qualifying companies
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Manufactured dividends and interest.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Interpretation.
#### Amount of post-commencement supplement for a post-commencement period
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### Amount of post-commencement supplement for a post-commencement period
#### About this Schedule
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
#### Qualifying companies
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Effect of notice under section 804ZA
#### Utilisation of eligible unrelieved foreign tax.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### Supplement in respect of a pre-commencement accounting period
#### Supplement in respect of a post-commencement period
#### Supplement in respect of a post-commencement period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### “The individual’s contribution to the trade”
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#### Insurance companies: allocation of expenses etc in computations under Case I of Schedule D.
#### Interest: special relationship.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Supplement in respect of a pre-commencement accounting period
#### The pool of qualifying E&A losses and the pool of non-qualifying losses
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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#### Change in company ownership: corporation tax.
#### Income treated as arising under section 761(1): remittance basis
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#### Interpretation of this Act.
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#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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#### Recovery of tax credits incorrectly paid.
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#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Section 87(2) and (3) and reductions in receipts under ITTOIA 2005
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#### Reduction in chargeable profits following an exempt period
#### Reduction in chargeable profits following an exempt period
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Power to inspect documents.
#### The Arbitration Convention.
#### Schemes and arrangements designed to increase relief
#### Withdrawal of right to tax credit of certain non-resident companies connected with unitary states.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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#### The non-qualifying pool
#### About this Schedule
#### About this Schedule
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Application of Income Tax Acts from year to year.
#### Repayment supplements: companies.
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#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Accounting periods
#### The non-qualifying pool
#### About this Schedule
#### Accounting periods
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
#### Amount of post-commencement supplement for a post-commencement period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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#### Conventional basis: general charge on receipts after discontinuance . . . .
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#### Withdrawal of right to tax credit of certain non-resident companies connected with unitary states.
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#### Introduction
#### Adjustment of profits on averaging claim
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Accounting periods
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#### Restriction of relief for payments of interest.
#### Recovery of tax credits incorrectly paid.
#### Old references to standard rate tax.
#### Reduction of United Kingdom taxes by amount of credit due.
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#### “Annual value” of land.
#### Qualifying trade, profession or vocation
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#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
#### Supplement in respect of a pre-commencement accounting period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Accounting periods
#### Conventional basis: general charge on receipts after discontinuance . . . .
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#### Power to inspect documents.
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#### Interpretation of the Corporation Tax Acts.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Introduction
#### Qualifying companies
#### Amount of post-commencement supplement for a post-commencement period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Accounting periods
#### Supplement in respect of a post-commencement period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Meaning of “research and development”.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The pool of qualifying E&A losses and the pool of non-qualifying losses
#### Allowable deductions.
#### Partners: meaning of “contribution to the trade”
#### Partners: meaning of “contribution to the trade”
#### Restriction on deduction of interest or dividends from trading income.
#### Miscellaneous charges (list for the purposes of certain provisions that formerly referred to Case VI of Schedule D)
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#### Qualifying trade, profession or vocation
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#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
#### Amount of post-commencement supplement for a post-commencement period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Supplement in respect of a post-commencement period
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Restriction on relief: companies.
#### Meaning of “relevant loss” in section 118ZN
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#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Definitions.
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#### Repayment supplements: companies.
#### Meaning of “investment LLP” and “property investment LLP”
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#### Introduction
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Amount of post-commencement supplement for a post-commencement period
#### The non-qualifying pool
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
##### 468A
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##### 468A
- (1) In relation to an open-ended investment company the rate of corporation tax for the financial year 2005 and subsequent financial years shall be deemed to be the rate at which income tax at the lower rate is charged for the year of assessment which begins on 6th April in the financial year concerned (and section 13 shall not apply).
- (2) In this section “*open-ended investment company*” means a company incorporated in the United Kingdom to which section 236 of the Financial Services and Markets Act 2000 applies.
- (3) Each of the parts of an umbrella company shall be regarded for the purposes of this section as an open-ended investment company and the umbrella company as a whole shall not be so regarded (and shall not, unless an enactment expressly provides otherwise, be regarded as a company for any other purpose of the Tax Acts).
- (4) In subsection (3) “*umbrella company*” means an open-ended investment company—
- (a) in respect of which the instrument of incorporation provides arrangements for separate pooling of the contributions of the shareholders and the profits or income out of which payments are to be made to them, and
- (b) the shareholders of which are entitled to exchange rights in one pool for rights in another,
and a reference to part of an umbrella company is a reference to a separate pool.
#### Insurance companies: allocation of expenses etc in computations under Case I of Schedule D.
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#### Qualifying trade, profession or vocation
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#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### About this Schedule
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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#### Meaning of “research and development”.
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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#### How averaging claim is given effect
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### About this Schedule
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### The pool of qualifying E&A losses and the pool of non-qualifying losses
#### The mixed pool of qualifying E&A expenditure and supplement previously allowed
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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#### Qualifying trade, profession or vocation
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### Supplement in respect of a pre-commencement accounting period
#### Amount of post-commencement supplement for a post-commencement period
#### The non-qualifying pool
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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#### Introduction
#### Adjustment of profits on averaging claim
#### About this Schedule
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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#### . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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2007-03-21
Income and Corporation Taxes Act 1988
View changes Text at this date
2007-03-01
Income and Corporation Taxes Act 1988
View changes Text at this date
2007-01-08
Income and Corporation Taxes Act 1988
View changes Text at this date
2007-01-01
Income and Corporation Taxes Act 1988
View changes Text at this date
2006-12-31
Income and Corporation Taxes Act 1988
View changes Text at this date
2006-12-26
Income and Corporation Taxes Act 1988
View changes Text at this date
2006-12-12
Income and Corporation Taxes Act 1988
View changes Text at this date
2006-12-06
Income and Corporation Taxes Act 1988
View changes Text at this date
2006-08-11
Income and Corporation Taxes Act 1988
View changes Text at this date
2006-07-19
Income and Corporation Taxes Act 1988
View changes Text at this date
2006-06-09
Income and Corporation Taxes Act 1988
View changes Text at this date
2006-04-06
Income and Corporation Taxes Act 1988
View changes Text at this date
2006-04-01
Income and Corporation Taxes Act 1988
View changes Text at this date
2006-03-22
Income and Corporation Taxes Act 1988
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2006-01-06
Income and Corporation Taxes Act 1988
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2005-12-27
Income and Corporation Taxes Act 1988
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2005-12-05
Income and Corporation Taxes Act 1988
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2005-11-01
Income and Corporation Taxes Act 1988
View changes Text at this date
2005-10-05
Income and Corporation Taxes Act 1988
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2005-09-27
Income and Corporation Taxes Act 1988
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2005-08-12
Income and Corporation Taxes Act 1988
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2005-08-11
Income and Corporation Taxes Act 1988
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2005-08-03
Income and Corporation Taxes Act 1988
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2005-07-24
Income and Corporation Taxes Act 1988
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2005-07-20
Income and Corporation Taxes Act 1988
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2005-06-08
Income and Corporation Taxes Act 1988
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2005-04-07
Income and Corporation Taxes Act 1988
View changes Text at this date
2005-04-06
Income and Corporation Taxes Act 1988
original version Text at this date