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Corporation Tax Act 2010
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Changes over time for: Section 295
Version Superseded: 17/07/2013
Alternative versions:
- 01/04/2010- Amendment
- 14/03/2012
Point in time - 17/07/2013- Amendment
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Corporation Tax Act 2010, Section 295 is up to date with all changes known to be in force on or before 08 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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295Amounts excluded from section 293(1)U.K.
This section has no associated Explanatory Notes
(1)This section applies if—
(a)the whole of the guarantee payment mentioned in section 293, or of the assets which under section 294 are attributed to the guarantee payment, is not applied in meeting liabilities of the relevant participator so mentioned which fall within section 104(1)(a) and (b) of FA 1991, and
(b)a sum representing the unapplied part of the guarantee payment or of those assets is repaid, directly or indirectly, to the guarantor so mentioned.
(2)Any liability of the relevant participator to repay that sum is to be excluded in determining the total liability of the relevant participator which falls within section 293(1)(b).
(3)The repayment to the guarantor of that sum is not to be regarded as expenditure incurred by the relevant participator as mentioned in section 293(1)(c).
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