Chapter 1U.K.Introduction
F11217Overview of PartU.K.
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Textual Amendments
F1S. 1217 renumbered as s. 1218A (with effect in accordance with Sch. 18 para. 23 of the amending Act) by Finance Act 2013 (c. 29), Sch. 18 paras. 21(1)(a), 22; S.I. 2013/1817, art. 2(2)
F21218“Company with investment business” and “investment business”U.K.
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Textual Amendments
F2S. 1218 renumbered as s. 1218B (with effect in accordance with Sch. 18 para. 23 of the amending Act) by Finance Act 2013 (c. 29), Sch. 18 paras. 21(1)(b), 22; S.I. 2013/1817, art. 2(2)
[F31218A]Overview of PartU.K.
(1)This Part contains special rules for companies with investment business.
(2)Chapters 2 and 3 provide relief for certain expenses of a company with investment business that are not relieved elsewhere.
(3)Chapter 4 contains some restrictions on the relief.
(4)There are provisions imposing liability to corporation tax in—
(a)section 1229 (claw back of relief), and
(b)Chapter 5 (companies with investment business: receipts).
Textual Amendments
F3S. 1217 renumbered as s. 1218A (with effect in accordance with Sch. 18 para. 23 of the amending Act) by Finance Act 2013 (c. 29), Sch. 18 paras. 21(1)(a), 22; S.I. 2013/1817, art. 2(2)
[F41218B]Overview of PartU.K.
(1)In this Part “company with investment business” means a company whose business consists wholly or partly of making investments.
(2)But a credit union is not a company with investment business for the purposes of this Part.
(3)References in this Part to a company's investment business are to be construed in accordance with section 1219(2). But this subsection does not affect the interpretation of the expression “company with investment business”.
Textual Amendments
F4S. 1218 renumbered as s. 1218B (with effect in accordance with Sch. 18 para. 23 of the amending Act) by Finance Act 2013 (c. 29), Sch. 18 paras. 21(1)(b), 22; S.I. 2013/1817, art. 2(2)