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.