Corporation Tax Act 2010

510 Substantial donor transactions: supplementary

(1) In sections 502 to 508—

(a) a reference to a substantial donor or other person includes a reference to a person connected with the donor or other person,

(b) “financial assistance” includes, in particular—

(i) the provision of a loan, guarantee or indemnity, and

(ii) entering into alternative finance arrangements within the meaning of section 564A(2) of ITA 2007 or section 501(2) of CTA 2009, and

(c) a reference to a gift of a specified amount includes a reference to a non-monetary gift of that value.

(2) On an appeal against an assessment the tribunal may affirm or replace a decision of an officer of Revenue and Customs under section 504 or 507.

(3) The Treasury may by regulations vary a sum, or a period of time, specified in section 502(2).

(4) Section 1124 (meaning of “control”) does not apply for the purposes of section 508(4) or 509(2).