C1Part 3Trading income
Annotations:
Modifications etc. (not altering text)
Chapter 6Trade profits: receipts
Other receipts
104Repayments under FISMA 2000
1
This section applies if—
a
a company carries on a trade, and
b
a payment is made to the company as a result of a repayment provision.
2
The payment is brought into account as a receipt in calculating the profits of the trade.
3
For the purposes of this section “repayment provision” means—
a
any provision made by virtue of section 136(7) or 214(1)(e) of FISMA 2000, or
b
any provision made by scheme rules for fees to be refunded in specified circumstances.
4
In this section “scheme rules” means the rules referred to in paragraph 14(1) of Schedule 17 to FISMA 2000.
Pt. 3 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 4(1)