Part 15Transactions in securities
Introduction
732Meaning of “corporation tax advantage”
1
In this Part “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, or
d
the avoidance of a possible assessment to corporation tax.
2
For the purposes of subsection (1)(c) and (d) it does not matter whether the avoidance or reduction is effected—
a
by receipts accruing in such a way that the recipient does not pay or bear corporation tax on them, or
b
by a deduction in calculating profits or gains.