There are currently no known outstanding effects for the Taxation (International and Other Provisions) Act 2010, Section 371SF.
(1)In relation to any relief under the Corporation Tax Acts which is dependent upon the making of a claim or election, assume the CFC—
(a)to have made that claim or election which would give the maximum amount of relief, and
(b)to have made that claim or election within any applicable time limit.
(2)Subsection (1) does not cover (so far as it would otherwise do so) a claim or election under—
(a)section 18A of CTA 2009 (exemption for profits or losses of foreign permanent establishments),
(b)section 1275 of CTA 2009 (relief for unremittable income),
(c)section 9A of CTA 2010 (designated currency of a UK resident investment company), or
(d)regulations made under paragraph 16 of Schedule 8 to FA 2006 (election for lease to be treated as long funding lease).
(3)Subsection (1) is also subject to section 371SK(5).]
Textual Amendments
F1Pt. 9A inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 20 para. 1 (with ss. 56-58)
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