[259KC Denial of the relevant deduction in relation to the imported mismatch payment]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[Counteraction]

[259KC  Denial of the relevant deduction in relation to the imported mismatch payment]

[(1)     If, in addition to the imported mismatch payment, there are, or will be, one or more relevant payments in relation to the relevant mismatch, subsection (3) applies.

(2)     Otherwise, for corporation tax purposes, in relation to the imported mismatch payment, the relevant deduction that may be deducted from P's income for the payment period is to be reduced by the amount of the relevant mismatch.

[(2A)     But any reduction under this section has effect subject to section 259KD (deductions from dual inclusion income) [and section 259KE (limit on reduction under section 259KC)].]

(3)     For corporation tax purposes, where this subsection applies, in relation to the imported mismatch payment, the relevant deduction that may be deducted from P's income for the payment period is to be reduced by P's share of the relevant mismatch.

(4)

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