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Changes over time for: Section 116


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This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 31/01/2013.
Changes to legislation:
Corporation Tax Act 2010, Section 116 is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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116The EEA tax loss condition: companies not resident in EEA territoryU.K.
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Nodiadau Esboniadol
(1)In the case of a surrendering company that is not resident in any EEA territory but is carrying on a trade in an EEA territory (“the relevant EEA territory”) through a permanent establishment, an EEA amount meets the EEA tax loss condition so far as—
(a)subsection (2) applies to the amount, and
(b)the amount is not excluded by subsection (3).
(2)This subsection applies to the EEA amount so far as it is calculated in accordance with the rules in the relevant EEA territory that are applicable for determining, in the surrendering company's case, the amount of any loss or other amount eligible for relief from any non-UK tax chargeable under the law of the relevant EEA territory.
(3)The EEA amount is excluded so far as it is attributable to activities of the surrendering company that are subject to relieving arrangements.
(4)“Relieving arrangements” means arrangements within subsection (5) that have the effect mentioned in subsection (6) (or would have that effect if a claim were made).
(5)Arrangements are within this subsection if they are made with a view to affording relief from double taxation in relation to—
(a)any non-UK tax chargeable under the law of the relevant EEA territory and any non-UK tax chargeable under the law of any other territory, or
(b)any non-UK tax chargeable under the law of the relevant EEA territory and United Kingdom income or corporation tax.
(6)The effect referred to in subsection (4) is that the income or gains arising for the EEA accounting period from the activities are ignored in calculating the surrendering company's profits, income or gains chargeable to non-UK tax under the law of the relevant EEA territory for that period.
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