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Part 19U.K.General exemptions

MiscellaneousU.K.

F11283Interest from tax reserve certificatesU.K.

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Textual Amendments

F1S. 1283 repealed (with effect in accordance with Sch. 39 para. 53(4) of the amending Act) by Finance Act 2012 (c. 14), Sch. 39 para. 53(1)(b)

1284Housing grantsU.K.

(1)No liability to corporation tax arises in respect of a payment if it is made—

(a)under an enactment relating to the giving of financial assistance for the provision, maintenance or improvement of housing accommodation or other residential accommodation, and

(b)by way of grant or other contribution towards expenses.

(2)It does not matter whether—

(a)the payment is made to the person who incurs the expenses, or

(b)the expenses have been, or are to be, incurred.

(3)Subsection (1) does not apply so far as the payment is made towards an expense which is deductible in calculating income for any corporation or income tax purpose.

F21285UK company distributionsU.K.

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Textual Amendments

F2S. 1285 omitted (with effect in accordance with Sch. 14 para. 31 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 14 para. 27

Modifications etc. (not altering text)

C1S. 1285 modified (with effect in accordance with Sch. 3 paras. 5, 7 of the amending Act) by Finance (No. 3) Act 2010 (c. 33), Sch. 3 para. 6(1)(2)

1286VAT repayment supplementsU.K.

No liability to corporation tax arises in respect of a sum paid by way of supplement under section 79 of VATA 1994 (VAT repayment supplements).

1287Incentives to use electronic communicationsU.K.

No liability to corporation tax arises in respect of anything received by way of incentive under any regulations made in accordance with Schedule 38 to FA 2000 (regulations for providing incentives for electronic communications).