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Changes over time for: Section 199


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 15/09/2016.
Changes to legislation:
There are currently no known outstanding effects for the Taxation (International and Other Provisions) Act 2010, Section 199.

Changes to Legislation
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199Pre-conditions for making election under section 200U.K.
This section has no associated Explanatory Notes
(1)Conditions A to E are the pre-conditions for the purposes of section 200.
(2)Condition A is that both of the affected persons are companies.
(3)Condition B is that only one of the affected persons (“the advantaged person”) is a person on whom a potential advantage in relation to United Kingdom taxation is conferred by the actual provision.
(4)Condition C is that the other affected person (“the disadvantaged person”) is within the charge to income tax or corporation tax in respect of profits arising from the relevant activities (see section 216).
(5)Condition D is that the actual provision is provision in relation to a security (the “relevant security”).
(6)Condition E is that the capital market condition is met (see section 204).
(7)In subsections (5) and (8)(a) “security” includes securities not creating or evidencing a charge on assets.
(8)For the purposes of subsection (5), any—
(a)interest payable by a company on money advanced without the issue of a security for the advance, or
(b)other consideration given by a company for the use of money so advanced,
is to be treated as if payable or given in respect of a security issued for the advance by the company, and the reference in subsection (5) to a security is to be read accordingly.
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