SCHEDULES
SCHEDULE 33 Taxation provisions
Part II Public-Private Partnership Agreements
Revenue nature of payments under PPP agreements
7
Any payment made by a relevant body to a company in pursuance of a PPP agreement shall be deemed for the purposes of the Corporation Tax Acts—
a
in the case of the relevant body, to be an expense of a revenue, rather than a capital, nature (and deductible accordingly in computing profits under F1Part 3 of the Corporation Tax Act 2009); and
b
in the case of the company, to be a receipt of a trade carried on by the company (and taxable accordingly under F2Part 3 of the Corporation Tax Act 2009).