Part 2 U.K. Income tax, corporation tax and capital gains tax

Chapter 5 U.K. Alternative finance arrangements

Treatment of alternative finance arrangements U.K.

54 [F1 Return not to be treated as distribution] U.K.

[F2 (1)] Profit share return is not to be treated by virtue of section 209(2)(e)(iii) of ICTA as being a distribution for the purposes of the Corporation Tax Acts.

[F3 (2) Neither additional payments nor any part of the redemption payment under arrangements falling within section 48A are to be treated by virtue of section 209(2)(e)(iii) of ICTA as being a distribution for the purposes of the Corporation Tax Acts.]

Textual Amendments

F1 S. 54 heading substituted (with effect in accordance with s. 53(13)(14) of the amending Act) by Finance Act 2007 (c. 11), s. 53(8)(c)

F2 S. 54(1): s. 54 renumbered as s. 54(1) (with effect in accordance with s. 53(13)(14) of the amending Act) by Finance Act 2007 (c. 11), s. 53(8)(a)

F3 S. 54(2) inserted (with effect in accordance with s. 53(13)(14) of the amending Act) by Finance Act 2007 (c. 11), s. 53(8)(b)