Point in time view as at 31/12/2020.
Finance Act 2016, Paragraph 29 is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
29(1)Section 279F (ring fence profits: related 51% group company) is amended as follows.U.K.
(2)In subsection (7)(c) (conditions to be met by a company's dividend income in order for company to be a passive company), in sub-paragraph (ii) (dividends must be franked investment income) for “franked investment income” substitute “ exempt ABGH distributions ”.
(3)After subsection (9) insert—
“(10)In subsection (7)(c) “exempt ABGH distribution” means a distribution which—
(a)is a distribution for the purposes of the Corporation Tax Acts only because it falls within paragraph A, B, G or H in section 1000(1), and
(b)is exempt for the purposes of Part 9A of CTA 2009 (company distributions).”
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