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Corporation Tax Act 2010

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Corporation Tax Act 2010, Section 730H is up to date with all changes known to be in force on or before 12 July 2024. 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. Help about Changes to Legislation

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[F1730HInterpretation of section 730GU.K.

This section has no associated Explanatory Notes

(1)In section 730G—

  • arrangements” includes any agreement, understanding, scheme, transaction or series of transactions (whether or not legally enforceable);

  • [F2CFC charge advantage” means the avoidance or reduction of a charge or assessment to a charge under Part 9A of TIOPA 2010 (controlled foreign companies);]

  • corporation tax advantage” means—

    (a)

    a relief from corporation tax or increased relief from corporation tax,

    (b)

    a repayment of corporation tax or increased repayment of corporation tax,

    (c)

    the avoidance or reduction of a charge to corporation tax or an assessment to corporation tax,

    (d)

    the avoidance of a possible assessment to corporation tax, or

    (e)

    the deferral of a payment of corporation tax or advancement of a repayment of corporation tax;

  • deductible amount” means—

    (a)

    an expense of a trade, other than an amount treated as such an expense by section 450(a) of CAA 2001 (research and development allowances treated as expenses in calculating profits of a trade),

    (b)

    an expense of a UK property business or an overseas property business,

    (c)

    an expense of management of a company's investment business within the meaning of section 1219 of CTA 2009,

    (d)

    a non-trading debit within the meaning of Parts 5 and 6 of CTA 2009 (loan relationships and derivative contracts) (see section 301(2) of that Act), or

    (e)

    a non-trading debit within the meaning of Part 8 of CTA 2009 (intangible fixed assets) (see section 746 of that Act),

    but does not include any amount that has been taken into account in determining RTWDV within the meaning of Chapter 16A of Part 2 of CAA 2001 (restrictions on allowance buying) (see section 212K of that Act);

  • relevant carried-forward loss” has the meaning given by section 730F.

(2)References in section 730G to bringing an amount into account “as a deduction” in any period are to bringing it into account as a deduction in that period—

(a)in calculating profits, losses or other amounts for corporation tax purposes, or

(b)from profits or other amounts chargeable to corporation tax.]

Textual Amendments

F1Pt. 14B inserted (with effect and application in accordance with Sch. 3 Pt. 2 of the amending Act) by Finance Act 2015 (c. 11), Sch. 3 para. 1

F2Words in s. 730H(1) inserted (18.11.2015) (with effect in accordance with s. 37(7)(8) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 37(6)

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