Point in time view as at 01/01/2018.
Finance Act 2016, Paragraph 34 is up to date with all changes known to be in force on or before 08 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.
34(1)To the extent that the counteracted advantage (see paragraph 35) is a deferral of tax (other than VAT), the value of that advantage is—U.K.
(a)25% of the amount of the deferred tax for each year of the deferral, or
(b)a percentage of the amount of the deferred tax, for each separate period of deferral of less than a year, equating to 25% per year,
or, if less, 100% of the amount of the deferred tax.
(2)This paragraph does not apply to a case to the extent that paragraph 33 applies.
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