SCHEDULES

SCHEDULE 16 U.K.Controlled foreign companies

Part 3 U.K.Reduction in chargeable profits for certain financing income

Reduction in chargeable profits for certain financing income U.K.

24 (1) Section 751B (supplementary) is amended as follows. U.K.

(2) In the heading, for “Section 751A” substitute “ Sections 751A and 751AA ”.

F1 (3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) In subsection (8)—

(a) after “ “the relevant amount”” insert “—

(a) in the case of an appeal in respect of the refusal of an application under section 751A,”, and

(b) after “mentioned in that subsection” insert “, and

(b) in the case of an appeal in respect of the refusal of an application under section 751AA, has the meaning given by subsection (5) of that section.”

F2 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1 Sch. 16 para. 24(3) omitted (with effect in accordance with Sch. 12 para. 14(2) of the amending Act) by virtue of Finance Act 2011 (c. 11), Sch. 12 para. 13(b)

F2 Sch. 16 para. 24(5) omitted (with effect in accordance with Sch. 12 para. 14(2) of the amending Act) by virtue of Finance Act 2011 (c. 11), Sch. 12 para. 13(b)