[F17(1)A CT payment plan entered into by a company must—U.K.
(a)specify the accounting period to which the plan relates (“the accounting period concerned”),
(b)specify the amount of qualifying corporation tax which, in the company's opinion, is payable by it in respect of the accounting period concerned,
(c)specify the amount of the deferred tax,
(d)identify each qualifying transaction of the company in respect of which gains or credits arose in the accounting period concerned, and
(e)specify in relation to each of those qualifying transactions—
(i)the name of the transferee,
(ii)the EEA state in which the transferee was resident at the time of the transaction, and
(iii)the amount of the deferred tax that is attributable to the transaction.
(2)The amount of the deferred tax that is attributable to a qualifying transaction of the company in respect of which a gain or credit arose in the accounting period concerned is—
where—
A is the gain or credit that arose in the accounting period concerned in respect of the qualifying transaction,
B is the total gains or credits that arose in the accounting period concerned in respect of all qualifying transactions of the company,
T is the amount of the deferred tax.]
Textual Amendments
F1Sch. 3ZC inserted (retrospective and with effect in accordance with Sch. 7 para. 4(1)(a) of the amending Act) by Finance Act 2020 (c. 14), Sch. 7 para. 2