[196B Employer asset-backed contributions: denial of relief (1)]
Finance Act 2004 (2004 c 12) | Legislation

[196B  Employer asset-backed contributions: denial of relief (1)]

[(1)     An employer (“E”) is not to be given relief in respect of a contribution (“E's contribution”) paid by E under a registered pension scheme if conditions A, B and C are met.

(2)     Condition A is that—

(a)     under an arrangement (“the asset-backed arrangement”)—

(i)     a person (“the borrower”) receives money or another asset (“the advance”) from another person (“the lender”),

(ii)     the borrower, or a person connected with the borrower, makes a disposal of an asset (“the security”) to or for the benefit of the lender or a person connected with the lender, and

(iii)     the lender,

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Serving outside the jurisdiction with court permission—application and order

This Practice Note addresses issues when serving out of the jurisdiction and the permission of the court is required. It explains how to make an application and the form of order required. An application to serve out of the jurisdiction is generally made without notice and on the papers. Key

LEXISNEXIS

Recklessness in criminal cases

Recklessness in criminal casesWhat is recklessness?In respect of some statutory offences and common law crimes the prosecution are required to prove a mental element of recklessness on the part of the defendant.Recklessness means unjustified risk taking on the part of the accused.Prior to the House

LEXISNEXIS

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016The primary function of office-holders in personal and corporate insolvency is to collect in the assets belonging to a company or individual and to distribute these

LEXISNEXIS

Acknowledgment of service

Acknowledgment of serviceThis Practice Note explains when an acknowledgment of service is required (CPR 10) and the consequences of a failure to file an acknowledgment of service. It identifies the correct form to use, what information must be included and who must to sign the form. The different