37 Disguised remuneration schemes: restriction of corporation tax relief
Finance (No 2) Act 2017 (2017 c 32) | Legislation

37  Disguised remuneration schemes: restriction of corporation tax relief

(1)     Section 1290 of CTA 2009 (restriction of deductions: employee benefit contributions) is amended in accordance with subsections (2) to (5).

(2)     After subsection (1) insert—

“(1A)     No deduction is allowed under this section in respect of employee benefit contributions for a period of account which starts more than 5 years after the end of the period of account in which the contributions are made.”

(3)     After subsection (2) insert—

“(2A)     Subsection (2) is subject to subsections (1A) and (2B).

(2B)     Where subsection (3C) applies, no deduction is allowed for an amount in respect of the contributions for the period except so far as the amount

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Direct discrimination

Direct discriminationIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an

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

Arms length management organisations (ALMOs)

Arms length management organisations (ALMOs)An arms length management organisation (ALMO) is a not-for-profit company that provides housing services on behalf of a local housing authority (LHA). Usually an ALMO is set up by the LHA to manage and improve all or part of its housing stock with the LHA

LEXISNEXIS

Option agreements—the need for a long-stop date

Call options are frequently used by developers to secure a right to buy land if planning permission is obtained. Taking an option provides the developer with time to make and pursue a planning application before having to commit to paying for the land. The developer's initial outlay will be limited