- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
20(1)Section 12 of ICTA (corporation tax: basis of, and periods for, assessment) is amended as follows.
(2)In subsection (7A), after “(7ZA) above” insert “and subject to subsection (7C) below”.
(3)After subsection (7B) insert—
“(7C)Where subsection (1) of section 444AA applies in the case of an insurance business transfer scheme—
(a)an accounting period of the transferor shall end for purposes of corporation tax—
(i)with the end of the period covered by the periodical return deemed by virtue of subsection (2) of that section, or
(ii)where the last period covered by an actual periodical return of the transferor ends immediately before the transfer, with the end of that period,
(so that an accounting period will end immediately before the transfer), and
(b)an accounting period of the transferor shall end for purposes of corporation tax with the end of the period covered by the periodical return deemed by virtue of subsection (3) of that section (so that the time of the transfer shall be an accounting period of the transferor);
and for this purpose, expressions used in this subsection and in that section have the same meaning in this subsection as in that section.”.
(4)In section 444AB of ICTA (transfers of business: charge on transferor retaining assets) in subsection (3), for “ending with the day of the transfer” substitute “ending immediately before the transfer”.
(5)In section 444ABA of ICTA (subsequent charge in certain cases within section 444AB of ICTA) in subsection (3), for “ending with the day of the transfer” substitute “ending immediately before the transfer”.
(6)In section 213 of TCGA 1992 (spreading of gains and losses under section 212 of TCGA 1992) at the end insert—
“(10)If the transfer is one to which section 444AA(1) of the Taxes Act applies, the references in this section to the accounting period of the transferor ending with the day of the transfer are references to the accounting period ending immediately before the transfer.”.
(7)The amendments made by sub-paragraphs (2) to (5) have effect in relation to insurance business transfer schemes taking place on or after 16th March 2005.
(8)The amendment made by sub-paragraph (6) has effect where the accounting period for which the net amount represents an excess of losses over gains is an accounting period beginning on or after 1st January 2003.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed): Mae'r wreiddiol fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Gallwch wneud defnydd o ddogfennau atodol hanfodol a gwybodaeth ar gyfer yr eitem ddeddfwriaeth o’r tab hwn. Yn ddibynnol ar yr eitem ddeddfwriaeth sydd i’w gweld, gallai hyn gynnwys:
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys