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Finance Act 2014

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Finance Act 2014, Section 40 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. Help about Changes to Legislation

40Determination of beneficial entitlement for purposes of group reliefU.K.

This section has no associated Explanatory Notes

(1)CTA 2010 is amended as follows.

(2)In section 169 (interpretation of provisions to determine proportion of beneficial entitlement)—

(a)in subsection (2), for the definition of “arrangements” substitute—

“arrangements”—

(a)means arrangements of any kind (whether or not in writing), but

(b)does not include a condition or requirement imposed by, or agreed with, a Minister of the Crown, the Scottish Ministers, a Northern Ireland department or a statutory body,, and

(b)after that subsection insert—

(3)In subsection (2) “statutory body” means a body (other than a company as defined by section 1(1) of the Companies Act 2006) established by or under a statutory provision for the purpose of carrying out functions conferred on it by or under a statutory provision, except that the Treasury may, by order, specify that a body is or is not to be a statutory body for this purpose.

(3)In section 188 (other definitions for Part 5), in subsection (1), in the definition of “company” for “section 156(2A)” substitute “ sections 156(2A) and 169(3) ”.

(4)The amendments made by this section have effect in relation to accounting periods ending on or after 1 January 2015.

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