The Taxes (Amendments) (EU Exit) Regulations 2019

Corporation Tax Act 2009 U.K.

16.—(1) The Corporation Tax Act 2009(1) is amended as follows.

(2) In section 133I(1)(2) omit paragraphs (b) and (c).

(3) In section 268(7)(3) omit “other than the United Kingdom”.

(4) In section 421—

(a) in subsections (3), (4) and (7) for “member State”, in each place where the expression occurs, substitute “relevant state”;

(b) in subsection (5)(b) omit “other than the United Kingdom”;

(c) in subsection (6) before the first definition insert—

““relevant state” means the United Kingdom or a member State;”.

(5) In section 429—

(a) in subsection (3) omit “other than the United Kingdom”;

(b) in subsection (4) for “member State” substitute “relevant state”.

(6) In section 430(2)—

(a) for “member State”, in both places where the expression occurs, substitute “relevant state”;

(b) for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”.

(7) In section 431—

(a) in subsection (4) for “member State” substitute “relevant state”;

(b) in subsection (5) for “State” substitute “relevant state”;

(c) in subsection (7)(b) for “another” substitute “a”;

(d) in subsection (9)(a)—

(i) for “another” substitute “a”;

(ii) omit “other than the United Kingdom”;

(e) in subsection (10)—

(i) the words from ““the merger”” to the end become paragraph (a) of that subsection;

(ii) after that paragraph insert—

“(b) “relevant state” means the United Kingdom or a member State.”;

(f) in subsection (11)(b) for “member State” substitute “relevant state”.

(8) In section 438(4), in the definition of “transparent entity” omit “other than the United Kingdom”.

(9) In section 439(4)—

(a) in subsection (1), in the definition of “co-operative society” omit “other than the United Kingdom”;

(b) in subsection (2)—

(i) for “member State”, in both places where the expression occurs, substitute “relevant state”;

(ii) for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”.

(10) In section 507(5)—

(a) in subsection (1)(h) for “an EEA-regulated” substitute “a regulated”;

(b) in subsection (2)—

(i) at the end of paragraph (h) insert “and”;

(ii) omit paragraphs (j) and (k);

(c) after subsection (2) insert—

“(2A) In subsection (1)—

“regulated recognised stock exchange” means a recognised stock exchange that is regulated in the United Kingdom, the European Economic Area or Gibraltar;

“multilateral trading facility” means—

(a)

a UK multilateral trading facility within the meaning given by Article 2.1(14A) of Regulation (EU) No 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments,

(b)

an EU multilateral trading facility within the meaning given by Article 2.1(14B) of that Regulation, and

(c)

a multilateral system, operated by an investment firm or a market operator, which brings together multiple third-party buying and selling interests in financial instruments (in the system and in accordance with non-discretionary rules) in a way which results in a contract in accordance with Part 2 of the Financial Services (Markets in Financial Instruments) Act 2018 of Gibraltar,

and in paragraph (c) “multilateral system”, “investment firm”, “market operator” and “financial instrument” have the same meanings as given by Articles 2.1(11), 2.1A, 2.1(10) and 2.1(9) respectively of that Regulation.”.

(11) In section 674—

(a) in subsections (2), (3)(b) and (d) and (5) for “member State”, in each place where the expression occurs, substitute “relevant state”;

(b) in subsection (3)(g)(ii) for “another” substitute “a”;

(c) in subsection (4) before the first definition insert—

““relevant state” means the United Kingdom or a member State;”.

(12) In section 680(2) omit “other than the United Kingdom”.

(13) In section 681(2)—

(a) for “member State”, in both places where the expression occurs, substitute “relevant state”;

(b) for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”.

(14) In section 682—

(a) in subsection (3) for “member State” substitute “relevant state”;

(b) in subsection (4) for “State” substitute “relevant state”;

(c) in subsection (6)(b) for “another” substitute “a”;

(d) in subsection (8)—

(i) the words from ““the merger”” to the end become paragraph (a) of that subsection;

(ii) after that paragraph insert—

“(b) “relevant state” means the United Kingdom or a member State.”;

(e) in subsection (9)(b) for “member State” substitute “relevant state”.

(15) In section 687(3) omit “other than the United Kingdom”.

(16) In section 688(6)—

(a) in subsection (1), in the definition of “co-operative society” omit “other than the United Kingdom”;

(b) in subsection (2)—

(i) for “member State”, in both places where the expression occurs, substitute “relevant state”;

(ii) for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”.

(17) In section 819—

(a) in subsections (2) and (3) for “an EU company”, in each place where the expression occurs, substitute “a relevant company”;

(b) in subsections (2) to (4) for “member State”, in each place where the expression occurs, substitute “relevant state”;

(c) in subsection (3)(a) for “EU companies” substitute “relevant companies”;

(d) in subsection (3)(f)(ii) for “another” substitute “a”;

(e) in subsection (4) for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”;

(f) for subsection (5)(b) substitute—

“(ba) “relevant company” means a body incorporated under the law of a relevant state,

(bb) “relevant state” means the United Kingdom or a member State,”.

(18) In section 820—

(a) in subsection (4), in the definition of “transparent entity” omit “other than the United Kingdom”;

(b) in subsection (5)—

(i) for “member State”, in both places where the expression occurs, substitute “relevant state”;

(ii) for “State”, in both places where the word occurs other than as part of the expression “member State”, substitute “relevant state”.

(19) In section 821—

(a) in subsection (3) for “member State” substitute “relevant state”;

(b) in subsection (4) for “State” substitute “relevant state”;

(c) in subsection (5)(b) for “another” substitute “a”.

(20) In section 823(7)—

(a) after subsection (1) insert—

“(1A) “Relevant state” means the United Kingdom or a member State.”;

(b) in subsection (6) omit “other than the United Kingdom”.

(21) In section 1123(5) omit “(other than the United Kingdom)”.

(22) In section 1217AE(8)—

(a) for “EEA expenditure”, in each place where the expression occurs (including the heading), substitute “European expenditure”;

(b) in subsection (1) after “within” insert “the United Kingdom or”;

(c) in subsection (2) for “non-EEA expenditure” substitute “non-European expenditure”.

(23) In section 1217C(2)(c) for “EEA” substitute “European”.

(24) In section 1217CE, in subsection (1) and the heading for “EEA expenditure” substitute “European expenditure”.

(25) In section 1217CG for “EEA expenditure”, in both places where the expression occurs, substitute “European expenditure”.

(26) In section 1217EB for “EEA expenditure”, in each place where the expression occurs (including the heading), substitute “European expenditure”.

(27) In section 1217G(1)(b)(9) for “EEA” substitute “European”.

(28) In section 1217GB—

(a) for “EEA”, in each place where this occurs (including the heading), substitute “European”;

(b) in subsection (2) after “within” insert “the United Kingdom or”;

(c) in subsection (3) for “non-EEA” substitute “non-European”.

(29) In section 1217J for “EEA expenditure”, in both places where the expression occurs, substitute “European expenditure”.

(30) In section 1217N for “EEA”, in each place where this occurs, substitute “European”.

(31) In section 1217NA for “EEA”, in each place where this occurs, substitute “European”.

(32) In section 1217OB for “EEA”, in both places where this occurs, substitute “European”.

(33) In section 1217RA(10)—

(a) in subsection (2)(d) for “EEA expenditure condition” substitute “European expenditure condition”;

(b) in subsection (4)(d) for “EEA expenditure condition” substitute “European expenditure condition”.

(34) In section 1217RB—

(a) for “EEA”, in each place where this occurs (including the heading), substitute “European”;

(b) in subsection (2) after “within” insert “the United Kingdom or”;

(c) in subsection (3) for “non-EEA” substitute “non-European”.

(35) In section 1217RE for “EEA expenditure”, in both places where the expression occurs, substitute “European expenditure”.

(36) In section 1217T for “EEA”, in each place where this occurs, substitute “European”.

(37) In section 1217TA for “EEA”, in each place where this occurs, substitute “European”.

(38) In section 1217U for “EEA”, in both places where this occurs, substitute “European”.

(39) In section 1218ZCA(5)(11) for “EEA” substitute “European”.

(40) In section 1218ZCC—

(a) for “EEA”, in each place where this occurs (including the heading), substitute “European”;

(b) in subsection (2) after “within” insert “the United Kingdom or”;

(c) in subsection (3) for “non-EEA” substitute “non-European”.

(41) In section 1218ZCF for “EEA expenditure”, in both places where the expression occurs, substitute “European expenditure”.

(42) In section 1218ZE for “EEA”, in each place where this occurs, substitute “European”.

(43) In section 1218ZEA for “EEA”, in each place where this occurs, substitute “European”.

(44) In section 1218ZFA for “EEA”, in both places where this occurs, substitute “European”.

(45) Schedule 4(12) is amended as follows—

(a) for “EEA”, in each place where this occurs, substitute “European”;

(b) in each entry relating to a definition of “resident in a member State”, for “member State” substitute “relevant state”.

Commencement Information

I1 Reg. 16 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1

(1)

2009 c. 4.

(2)

Section 133I was inserted by section 18 of the Finance (No. 2) Act 2015 (c.33).

(3)

Section 268(7) was inserted by paragraph 7(4)(b) of Schedule 14 to the Finance Act 2011.

(4)

Section 439(1) was relevantly amended by paragraph 142 of Schedule 4 to the Co-operative and Community Benefits Societies Act 2014 (c.14).

(5)

Section 507(1) was relevantly amended by section 34(4) of the Finance Act 2018 (c. 3).

(6)

Section 688(1) was relevantly amended by paragraph 142 of Schedule 4 to the Co-operative and Community Benefits Societies Act 2014.

(7)

Section 823(6) was relevantly amended by paragraph 142 of Schedule 4 to the Co-operative and Community Benefit Societies Act 2014.

(8)

Sections 1217AE to 1217EB were inserted by paragraph 1 of Schedule 17 to the Finance Act 2013 (c. 29) and amended by section 34 of the Finance Act 2014.

(9)

Sections 1217G to 1217OB were inserted by paragraph 1 of Schedule 4 to the Finance Act 2014.

(10)

Sections 1217RA to 1217U were inserted by paragraph 1 of Schedule 8 to the Finance Act 2016 (c. 24).

(11)

Sections 1218ZCA to 1218ZFA were inserted by paragraph 1 of Schedule 6 to the Finance (No. 2) Act 2017 (c.32).

(12)

Schedule 4 was amended by paragraph 1 of Schedule 4 to the Finance Act 2014, by paragraph 1 of Schedule 8 to the Finance Act 2016 and paragraph 1 of Schedule 6 to the Finance (No. 2) Act 2017.