http://www.legislation.gov.uk/id/ukpga/2006/25/schedule/10

http://www.legislation.gov.uk/ukpga/2006/25/schedule/10/paragraph/28/2006-04-06

Finance Act 2006

An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.

text

text/xml

en

Statute Law Database

2024-01-12

2006-04-06

SCHEDULES

SCHEDULE 10Sale etc of lessor companies etc

Part 3Leasing business carried on by a company in partnership

Determining the percentage share in the profits or loss of business

28

1

For the purposes of this Part of this Schedule a company's percentage share in the profits or loss of a business at any time is determined on a just and reasonable basis.

2

In making that determination, regard must be had, in particular, to—

a

any matter that would be taken into account in determining under section 114(2) of ICTA the company's share at that time in the profits or loss of the business, and

b

any matter that would be taken into account in determining under that provision the company's share at that time in any capital allowances and charges under CAA 2001.