Version Superseded: 15/09/2016
Point in time view as at 17/07/2012.
There are currently no known outstanding effects for the Finance Act 2012, Paragraph 14.
14(1)Section 1106 (tax credit only available where company is going concern) is amended as follows.U.K.
(2)At the end of subsection (4) insert—
“This is subject to subsection (4A).”
(3)After subsection (4) insert—
“(4A)A company is not a going concern at any time if it is in administration or liquidation at that time.
(4B)For the purposes of this section a company is in administration if—
(a)it is in administration under Part 2 of the Insolvency Act 1986 or Part 3 of the Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19)), or
(b)a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.
(4C)For the purposes of this section a company is in liquidation if—
(a)it is in liquidation within the meaning of section 247 of that Act or Article 6 of that Order, or
(b)a corresponding situation under the law of a country or territory outside the United Kingdom exists in relation to the company.”
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