- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
(1)This section applies if—
(a)a company makes a sub-contractor payment,
(b)the company and the sub-contractor are connected, and
(c)in accordance with generally accepted accounting practice, the whole of the sub-contractor payment and all of the sub-contractor’s relevant expenditure have been brought into account in determining the sub-contractor’s profit or loss for a relevant period.
(2)The amount of the sub-contractor payment which is “qualifying expenditure on sub-contracted land remediation” is—
(a)the entire payment, or
(b)if less, an amount equal to the sub-contractor’s relevant expenditure.
(3)“Relevant expenditure” of the sub-contractor means expenditure that—
(a)is incurred by the sub-contractor in carrying on, on behalf of the company, the activities to which the sub-contractor payment relates,
(b)is not of a capital nature,
(c)is incurred on staffing costs or materials, and
(d)is not subsidised.
(4)“Relevant period” means a period—
(a)for which accounts are drawn up for the sub-contractor, and
(b)that ends not more than 12 months after the end of the company’s period of account in which the sub-contractor payment is, in accordance with generally accepted accounting practice, brought into account in determining the company’s profit or loss.
(5)In the following sections, which apply for the purpose of determining whether a sub-contractor’s expenditure meets the requirements of subsection (3)(c) and (d)—
(a)section 1170 (staffing costs), and
(b)section 1177 (subsidised expenditure),
references to a company are to be read as references to the sub-contractor.
(6)Any apportionment of expenditure of the company or the sub-contractor necessary for the purposes of this section is to be made on a just and reasonable basis.
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: