[809BZN Exceptions]
Income Tax Act 2007 (2007 c 3) | Legislation

[809BZN Ìý·¡³æ³¦±ð±è³Ù¾±´Ç²Ô²õ±Õ

[(1)     A finance arrangement code does not apply if the whole of the advance under the arrangement—

(a)     is charged to tax on a relevant person as an amount of income,

(b)     is brought into account in calculating for tax purposes any income of a relevant person, or

(c)     is brought into account for the purposes of any provision of CAA 2001 as a disposal receipt, or proceeds from a balancing event or disposal event, of a relevant person.

(2)     Treat subsection (1)(c) as not met if—

(a)     the receipt gives rise, or proceeds give rise, to a balancing charge, and

(b)     the amount of the balancing charge is limited by any provision

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