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Finance Act 2006

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Changes over time for: Paragraph 13

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No versions valid at: 06/04/2006

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Point in time view as at 06/04/2006. This version of this cross heading contains provisions that are not valid for this point in time. Help about Status

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There are currently no known outstanding effects for the Finance Act 2006, Paragraph 13. Help about Changes to Legislation

Yn ddilys o 01/01/2007

13(1)To the extent that a transaction is attributable to arrangements entered into wholly or mainly for a disqualifying purpose, it shall be disregarded in determining for any period—U.K.

(a)any additional deduction to which a company is entitled under this Part of this Schedule, and

(b)any film tax credit to which a company is entitled.

(2)Arrangements are entered into wholly or mainly for a disqualifying purpose if their main object, or one of their main objects, is to enable a company to obtain—

(a)an additional deduction under this Part of this Schedule to which it would not otherwise be entitled or of a greater amount than that to which it would otherwise be entitled, or

(b)a film tax credit to which it would not otherwise be entitled or of a greater amount than that to which it would otherwise be entitled.

(3)In this paragraph “arrangements” includes any scheme, agreement or understanding, whether or not legally enforceable.

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