PART IV PROVISIONS RELATING TO THE SCHEDULE D CHARGE
C1CHAPTER V COMPUTATIONAL PROVISIONS
Special provisions
95AF4 Creative artists: relief for fluctuating profits
F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
96 Farming and market gardening: relief for fluctuating profits.
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
97 Treatment of farm animals etc.
F398 Tied premises: receipts and expenses treated as those of trade.
1
a
carries on a trade,
b
in the course of the trade supplies, or is concerned in the supply of, goods sold or used on premises occupied by F8a person other than the trader,
c
has an estate or interest in those premises, and
d
deals with that estate or interest as property employed for the purposes of the trade.
2
Where this section applies the receipts and expenses in connection with the premises that would otherwise fall to be brought into account in computing the profits of a Schedule A business carried on by the trader shall instead be brought into account in computing the profits of the trade.
3
Any necessary apportionment shall be made on a just and reasonable basis of receipts or expenses—
a
which do not relate only to the premises concerned, or
b
where the conditions in subsection (1) are met only in relation to part of the premises.
4
This section applies to premises outside the United Kingdom as if the premises were in the United Kingdom.
99 Dealers in land.
1
M2In computing for F10corporation tax purposes the F9profits of a trade of dealing in land, there shall be disregarded—
a
so much of the cost of woodlands in the United Kingdom purchased in the course of the trade as is attributable to trees or saleable underwood growing on the land; and
b
where any amount has been disregarded under paragraph (a) above and, on a subsequent sale of the woodlands in the course of the trade, all or any of the trees or underwood to which the amount disregarded was attributable are still growing on the land, so much of the price for the land as is equal to the amount so disregarded in respect of those trees or underwood.
2
3
Where, on a claim being made under subsection (2)(b) of section 36, the amount on which F12corporation tax was chargeable by virtue of that section is treated as reduced, subsection (2) above shall be deemed to have applied to the amount as reduced, and any such adjustment of liability to F12corporation tax shall be made (for all relevant F13accounting periods) whether by means of an assessment or otherwise, as may be necessary, and may be so made at any time at which it could be made if it related only to F12corporation tax for the F14accounting period in which that claim is made.
4
M4Subsection (1) above shall not apply where the purchase mentioned in paragraph (a) of that subsection was made under a contract entered into before 1st May 1963.
See—1979(C) s.122—election to take capital gain or loss into account when asset appropriated to stock in trade.1989 ss.67-74—employee share ownership trusts.Banking Act 1987 (c.22) s.66—contributions to the Deposit Protection Fund.