C1Part 6Tax arbitrage
Receipt notices
254Rule for calculation or recalculation of income etc following receipt notice
1
This section applies in relation to a qualifying payment if—
a
a receipt notice specifying the payment is given to the company in relation to which it is a qualifying payment, and
b
when the notice is given, each of the receipt scheme conditions is met in relation to the company.
2
The company must calculate (or recalculate)—
a
its income or chargeable gains for the purposes of corporation tax for the accounting period specified in the notice, or
b
its liability to corporation tax for that period,
as if so much of the qualifying payment as falls within subsection (3) were a receipt of the company that is chargeable for that period under the charge to corporation tax on income.
3
The qualifying payment falls within this subsection so far as—
a
receipt scheme condition D (see section 250(6)) is met in relation to it, and
b
it is not an amount to which section 251 (amounts within corporation tax) applies.
Pt. 6 excluded by 2010 c. 4, s. 938N (as inserted (19.7.2011) by Finance Act 2011 (c. 11), Sch. 5 para. 2)