SCHEDULES
C1Schedule 28AF1Change in ownership of company with investment business: deductions
Sch. 28A modified (22.7.2004) by Finance Act 2004 (c. 12), s. 43(7)
Part II Amounts in issue for purposes of section 768B
6
The amounts in issue referred to in section 768B(4)(c) are—
a
F9the amount of any expenses of management referable to the accounting period (within the meaning of section 75) being divided, except any such expenses as would (apart from section 768B) be deductible in computing profits otherwise than under section 75;
b
the amount of any charges which are paid in that accounting period wholly and exclusively for the purposes of the company’s business;
c
the amount of any excess carried forward under F10section 75(9) to the accounting period being divided;
d
F2da
the amount (if any) of the adjusted Case III profits and gains or non-trading deficit of the company for that accounting period F3(other than one within sub-paragraph (dc) below) ;
db
the amount of any non-trading debit (other than one within sub-paragraph F4. . . (dd) below) that falls to be brought into account for that accounting period for the purposes of Chapter II of Part IV of the Finance Act 1996 (loan relationships) in respect of any debtor relationship of the company;
dc
dd
the amount of any non-trading debit given for that accounting period by paragraph 13 of Schedule 15 to the Finance Act 1996 (transitional adjustment for past interest) in respect of any debtor relationship of the company;
F8de
the amount of any non-trading credits or debits in respect of intangible fixed assets that fall to be brought into account for that period under paragraph 34 of Schedule 29 to the Finance Act 2002;
df
the amount of any non-trading loss on intangible fixed assets carried forward to that accounting period under paragraph 35(3) of that Schedule;
e
any other amounts by reference to which the profits or losses of that accounting period would (apart from section 768B) be calculated.
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.
Sch. 28A heading substituted (28.9.2004 with effect in accordance with art. 1(2) of the amending S.I.) by virtue of The Finance Act 2004, Sections 38 to 40 and 45 and Schedule 6 (Consequential Amendment of Enactments) Order 2004 (S.I. 2004/2310), art. 2, Sch. para. 39(11)