[259BB Meaning of “payment”, “quasi-payment”, “payer”, “payee” etc]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[Payments and quasi-payments etc]

[259BB  Meaning of “payment”, “quasi-payment”, “payer”, “payee” etc]

[(1)     In this Part “payment” means any transfer—

(a)     of money or money's worth directly or indirectly from one person (“the payer”) to one or more other persons, and

(b)     in relation to which (disregarding this Part and any equivalent provision under the law of a territory outside the United Kingdom) an amount (a “relevant deduction”) may be deducted from the payer's income for a taxable period (the “payment period”) for the purposes of calculating the payer's taxable profits.

(2)     For the purposes of this Part, there is a “quasi-payment”, in relation to a taxable period (the “payment period”) of a person (“the payer”), if (disregarding this Part and any equivalent provision under the law of a territory outside the United Kingdom)—

(a)     an amount (a “relevant deduction”) may be deducted from the payer's income for that period for the purposes of calculating the payer's

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