[Part 2 Corporation Tax and other Related Relief]
Finance Act 2020 (2020 c 14) | Legislation

[Part 2 Corporation Tax and other Related Relief]

[Introductory

6

This Part of this Schedule provides for the following—

(a)     an exemption from corporation tax for relevant compensation payments, and

(b)     an exemption from income tax and capital gains tax for relevant onward payments.

Relevant compensation payments

7

(1)     In this Part of this Schedule “relevant compensation payment†means a payment made to a company under—

(a)     the GLO Compensation Scheme,

(b)     the Horizon Shortfall Scheme,

(c)     the Suspension Remuneration Review,

(d)     the Post Office Process Review, or

(e)     such other compensation scheme of a description specified in regulations made by the Treasury.

(2)     The power under sub-paragraph (1)(e) to specify a description of compensation scheme is exercisable only if the scheme provides for the payment of compensation to persons by or on behalf of—

(a)     the government of the United Kingdom,

(b)     the government of a part of the United Kingdom,

(c)     the government of any other country or territory,

(d)     a local or other public authority in the United Kingdom, or

(e)     a local or other public authority of a territory outside the United Kingdom.

(3)     The power under sub-paragraph (1)(e) may be

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Transferred malice

Transferred maliceThe principle of transferred maliceIf a person has a malicious intent towards X and, in carrying out that intent, injures Y, he is guilty of an offence. So, if D shoots at A with intent to kill him but kills B by mistake it is murder; the mistake as to the identity of the victim is

LEXISNEXIS

Sentencing for rape

Sentencing for rapeThe Sentencing Council (SC) produces guidance on sentencing for courts in England and Wales in the form of offence specific sentencing guidelines for use in the magistrates’ court and the Crown Court. This Practice Note considers the approach to sentencing for the offences of rape

LEXISNEXIS

False imprisonment

False imprisonmentLiabilityFalse imprisonment consists of the complete deprivation of liberty without a lawful basis. Claims will in practice be made against a public body that exercises detention powers, usually a local police force, the Secretary of State for the Home Department or the Secretary

LEXISNEXIS

Liquidated damages in construction contracts

Liquidated damages in construction contractsThis Practice Note explains what liquidated and ascertained damages (LADs/LDs) are and their purpose in a building contract. It considers the difference between liquidated damages and general (or unliquidated) damages and looks at the enforceability of