Income and Corporation Taxes Act 1988

CHAPTER VU.K. ADVANCE CORPORATION TAX AND FRANKED INVESTMENT INCOME

238 Interpretation of terms and collection of ACT.U.K.

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Textual Amendments

F1S. 238 repealed (with effect in accordance with Sch. 3 para. 11(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 11(1), Sch. 27 Pt. 3(2), Note

239 Set-off of ACT against liability to corporation tax.U.K.

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Textual Amendments

F2S. 239 repealed (with effect in accordance with Sch. 3 para. 12(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 12(1), Sch. 27 Pt. 3(2), Note (with Sch. 3 para. 12(3)-(6))

240 Set-off of company’s surplus ACT against subsidiary’s liability to corporation tax.U.K.

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Textual Amendments

F3S. 240 repealed (with effect in accordance with Sch. 3 para. 13(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 13(1), Sch. 27 Pt. 3(2), Note

241 Calculation of ACT where company receives franked investment income.U.K.

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Textual Amendments

F4S. 241 repealed (with effect in accordance with Sch. 3 para. 14(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 14(1), Sch. 27 Pt. 3(2), Note

242 Set-off of losses etc. against surplus of franked investment income.U.K.

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Textual Amendments

F5Ss. 242-244 repealed (with effect in accordance with s. 20(1)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), s. 20(5), Sch. 8 Pt. 2(4), Note

243 Set-off of loss brought forward, or terminal loss.U.K.

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Textual Amendments

F6Ss. 242-244 repealed (with effect in accordance with s. 20(1)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), s. 20(5), Sch. 8 Pt. 2(4), Note

244 Further provisions relating to claims under section 242 or 243.U.K.

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Textual Amendments

F7Ss. 242-244 repealed (with effect in accordance with s. 20(1)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), s. 20(5), Sch. 8 Pt. 2(4), Note

245 Calculation etc. of ACT on change of ownership of company.U.K.

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Textual Amendments

F8S. 245 repealed (with effect in accordance with Sch. 3 para. 15(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 15(1), Sch. 27 Pt. 3(2), Note

[F9245A Restriction on application of section 240 in certain circumstances.U.K.

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Textual Amendments

F9Ss. 245A, 245B inserted (in relation to changes in ownership on or after 14 March 1989) by Finance Act 1989 (c. 26), s. 98

F10S. 245A repealed (with effect in accordance with Sch. 3 para. 16(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 16(1), Sch. 27 Pt. 3(2), Note

245B Restriction on set-off where asset transferred after change in ownership of company.U.K.

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Textual Amendments

F11S. 245B repealed (with effect in accordance with Sch. 3 para. 17(2)(3) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 17(1), Sch. 27 Pt. 3(2), Note

246 Charge of ACT at previous rate until new rate fixed, and changes of rate.U.K.

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Textual Amendments

F12S. 246 repealed (with effect in accordance with Sch. 3 para. 18(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 18(1), Sch. 27 Pt. 3(2), Note