Modifications etc. (not altering text)
C1 See—1988 s.434A—limitations on group relief for life assurance company.1989 s.102—surrender of company tax refund etc. within group (from a day to be appointed not earlier than 31March 1992).
(1)Subject to subsection (2) below, where an apportionment falls to be made under section 403A for the purpose of determining how much of an amount for any period (“the first period”) is attributable to any other period (“the second period”) which comprises the whole or a part of the first period—
(a)the whole of that amount shall be attributed to the second period if the first and second periods begin and end at the same times; and
(b)in any other case, the apportionment shall be made on a time basis according to how much of the first period coincides with the second period.
(2)Where the circumstances of a particular case are such that the making on the time basis mentioned in subsection (1)(b) above of some or all of the apportionments to be made in that case would work in a manner that would be unjust or unreasonable in relation to any person, those apportionments shall be made instead (to the extent only that is necessary in order to avoid injustice and unreasonableness) in such other manner as may be just and reasonable.]
Textual Amendments
F1Ss. 403A-403C inserted (with effect in accordance with Sch. 7 para. 9 of the amending Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 7 para. 2
Modifications etc. (not altering text)
C2S. 403B modified by Taxation of Chargeable Gains Act 1992 (c. 12), s. 179(4) (as amended (with effect in accordance with Sch. 7 para. 9 of the 1997 amending Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 7 para. 8)