No versions valid at: 06/04/2006
Point in time view as at 06/04/2006. This version of this cross heading contains provisions that are not valid for this point in time.
There are currently no known outstanding effects for the Finance Act 2006, Paragraph 21.
Valid from 19/07/2006
21(1)Sections 124 to 126 shall apply only in relation to each UK resident company which is a member of the group; for which purpose—U.K.
(a)a reference to C (tax-exempt) is a reference to the company if or in so far as it is a member of G (property rental business), and
(b)a reference to C (residual) is a reference to the company if or in so far as it is a member of G (residual).
(2)Where a percentage of the gains of a member of G (property rental business) is excluded from a financial statement in accordance with paragraph 31(5), the excluded percentage shall be treated for the purposes of corporation tax as gains of the member in so far as it is a member of G (residual).
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