Income and Corporation Taxes Act 1988 (c. 1)

SCHEDULES

Schedule 28A U.K. Change in ownership of investment company: deductions

Modifications etc. (not altering text)

C1 Sch. 28A modified (22.7.2004) by Finance Act 2004 (c. 12), s. 43(7)

Part II U.K. Amounts in issue for purposes of section 768B

6A For the purposes of paragraph 6(da) above, the amount for any accounting period of the adjusted Case III profits and gains or non-trading deficit of a company is the amount which, as the case may be, would be—

(a) the amount of the profits and gains chargeable under Case III of Schedule D as profits and gains arising from the company’s loan relationships, or

(b) the amount of the company’s non-trading deficit on those relationships for that period,

if, in computing that amount, amounts for that period falling within paragraph 6(db) to (dd) above were disregarded.