Modifications etc. (not altering text)
C1 See—1979(C) s.122—election to take capital gain or loss into account when asset appropriated to stock in trade.1989 ss.67-74—employee share ownership trusts.Banking Act 1987 (c.22) s.66—contributions to the Deposit Protection Fund.
Valid from 01/04/2009
Textual Amendments
F1S. 76ZL and cross-heading inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 42 (with Sch. 2 Pts. 1, 2)
(1)This section applies if—
(a)an amount is charged in respect of employees' remuneration in the accounts for a period of a company to which section 76 applies,
(b)the amount would apart from this section be brought into account under section 76 as expenses payable, and
(c)the remuneration is not paid before the end of the period of 9 months immediately following the end of the period of account.
(2)If the remuneration is paid after the end of that period of 9 months, the amount is brought into account for the period of account in which it is paid.
(3)But—
(a)subsection (2) is subject to section 86 of FA 1989 (spreading of relief for acquisition expenses), and
(b)in interpreting that section the remuneration is treated as expenses payable which fall to be included at Step 1 in section 76(7) for the period of account in which the remuneration is paid.
(4)The amount is not brought into account under section 76 as expenses payable if it is not paid.]