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 V Amounts in issue for purposes of section 768C
13
1
The amounts in issue referred to in section 768C(3)(c) are—
a
the amount which would in accordance with the relevant provisions of the 1992 Act (and apart from section 768C) be included in respect of chargeable gains in the total profits for the accounting period being divided;
b
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 768C) be deductible in computing total profits otherwise than under section 75;
c
the amount of any charges which are paid in that accounting period wholly and exclusively for the purposes of the company’s business;
d
the amount of any excess carried forward under F10section 75(9) to the accounting period being divided;
e
F2ea
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 paragraph (ec) below);
eb
the amount of any non-trading debit (other than one within paragraph F4. . . (ed) 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;
ec
ed
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;
F8ee
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;
ef
the amount of any non-trading loss on intangible fixed assets carried forward to that accounting period under paragraph 35(3) of that Schedule; and
f
any other amounts by reference to which the profits or losses of the accounting period being divided would (apart from section 768C) be calculated.
2
In sub-paragraph (1)(a) above “the relevant provisions of the 1992 Act” means section 8(1) of and Schedule 7A to that Act.
13A
Paragraph 6A above shall apply for the purposes of paragraph 13(1)(ea) above as it applies for the purposes of paragraph 6(da) above.
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)