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Point in time view as at 06/04/2006.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 13.
Valid from 01/01/2007
13(1)To the extent that a transaction is attributable to arrangements entered into wholly or mainly for a disqualifying purpose, it shall be disregarded in determining for any period—U.K.
(a)any additional deduction to which a company is entitled under this Part of this Schedule, and
(b)any film tax credit to which a company is entitled.
(2)Arrangements are entered into wholly or mainly for a disqualifying purpose if their main object, or one of their main objects, is to enable a company to obtain—
(a)an additional deduction under this Part of this Schedule to which it would not otherwise be entitled or of a greater amount than that to which it would otherwise be entitled, or
(b)a film tax credit to which it would not otherwise be entitled or of a greater amount than that to which it would otherwise be entitled.
(3)In this paragraph “arrangements” includes any scheme, agreement or understanding, whether or not legally enforceable.
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