SCHEDULE 14 Transfer of Deductions
Finance Act 2013 (2013 c 29) | Legislation

SCHEDULE 14 Transfer of Deductions

Section 34

New Part 14A of CTA 2010

1

After Part 14 of CTA 2010 insert—

“Part 14A
Transfer of Deductions
730´¡Ìý°¿±¹±ð°ù±¹¾±±ð·É

(1)     This Part makes provision restricting the circumstances in which deductible amounts may be brought into account where there has been a qualifying change in relation to a company.

(2)     For the meaning of “deductible amount†and “qualifying change†see section 730B.

730B Interpretation of Part

(1)     In this Part—

“arrangements†includes any agreement, understanding, scheme, transaction or series of transactions (whether or not legally enforceable),

“C†means the company mentioned in section 730A(1),

“deductible amount†means—

(a)     an expense of a trade,

(b)     an expense of a UK property business or an overseas property business,

(c)     an expense of management of a company's investment business within the meaning of section 1219 of CTA 2009,

(d)     a non-trading debit within the meaning of Parts 5 and 6 of CTA 2009 (loan relationships and derivative contracts) (see section 301(2) of that Act), or

(e)     a non-trading debit within the meaning of Part 8 of CTA 2009 (intangible fixed assets) (see section 746 of that Act),

but does

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