xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"
Modifications etc. (not altering text)
C1Sch. 29 applied (with modifications) (15.8.2002) by S.I. 2002/1967, regs. 3-6
C2Sch. 29 modified (5.10.2004) by Energy Act 2004 (c. 20), s. 198(2), Sch. 9 para. 28 (with s. 38(2)); S.I. 2004/2575, art. 2(1), Sch. 1
C3Sch. 29 modified (8.6.2005) by Railways Act 2005 (c. 14), s. 60(2), Sch. 10 para. 17; S.I. 2005/1444, art. 2(1), Sch. 1
C4Sch. 29 modified (8.6.2005) by Railways Act 2005 (c. 14), s. 60(2), Sch. 10 para. 6; S.I. 2005/1444, art. 2(1), Sch. 1
C5Sch. 29 modified (E.W.) (1.1.2006) by Clean Neighbourhoods and Environment Act 2005 (c. 16), ss. 93(3), 108(3); S.I. 2005/3439, art. 2
C6Sch. 29 modified (19.7.2006) by Finance Act 2006 (c. 25), s. 136(2)(f)
C7Sch. 29 modified (21.12.2007) by Consumers, Estate Agents and Redress Act 2007 (c. 17), s. 66(2), Sch. 4 para. 10 (with s. 6(9)); S.I. 2007/3546, art. 3, Sch.
119(1)This Schedule—
(a)applies to royalties recognised for accounting purposes after commencement, and
(b)does not apply to royalties recognised for accounting purposes before commencement,
subject to the following provisions.
(2)To the extent that royalties have been brought into account before commencement, they shall not be brought into account again under this Schedule after commencement.
(3)To the extent that royalties would have been brought into account before commencement if the provisions of this Schedule had been in force, and were not so brought into account, they shall be brought into account immediately after commencement.
(4)For the purposes of this paragraph an amount is “brought into account” if—
(a)it is brought into account for tax purposes, or
(b)it would have been so brought into account if the person concerned had been within the charge to corporation tax.
[F1(5)Nothing in this paragraph shall be read as authorising or requiring an amount to be brought into account in connection with the realisation of an existing asset within the meaning of Part 4.]
Textual Amendments
F1Sch. 29 para. 119(5) inserted (with effect in accordance with s. 77(10)(11) of the amending Act) by Finance Act 2006 (c. 25), s. 77(7)