SCHEDULES

SCHEDULE 24 U.K. M1 ASSUMPTIONS FOR CALCULATING CHARGEABLE PROFITS, CREDITABLE TAX AND CORRESPONDING UNITED KINGDOM TAX OF FOREIGN COMPANIES

Modifications etc. (not altering text)

C1 Sch. 24 modified (28.7.2000) by Finance Act 2000 (c. 17), Sch. 22 para. 54(2)-(5)

Marginal Citations

M1 Source-1984 Sch. 16, 1985 Sch. 14 16

Group relief etc. U.K.

6 (1) In relation to section 247 it shall be assumed—

(a) F1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b) that the conditions for the making of an election under subsection (4) are not fulfilled with respect to payments made or received by the company.

(2) References in sub-paragraph (1) above to F2 . . . payments received by the company apply to any received by another person on behalf of or in trust for the company, but not to any received by the company on behalf of or in trust for another person.

Textual Amendments

F1 Sch. 24 para. 6(1)(a) repealed (with effect in accordance with Sch. 3 para. 43(4) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 43(2)(a), Sch. 27 Pt. 3(2), Note

F2 Words in Sch. 24 para. 6(2) repealed (with effect in accordance with Sch. 3 para. 43(4) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 43(2)(b), Sch. 27 Pt. 3(2), Note