[371DI Exclusion: trading profits (management expenditure condition)]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[371DI  Exclusion: trading profits (management expenditure condition)]

[(1)     This section applies for the purposes of section 371DF(1)(c).

(2)     The management expenditure condition is met if the UK related management expenditure is no more than 20% of the total related management expenditure.

(3)     “The total related management expenditure” is the total of the following expenditure incurred during the accounting period by the CFC—

(a)     expenditure incurred in the employment of any member of the CFC's staff who carries out relevant management functions,

(b)     expenditure incurred in the engagement (directly or indirectly) of any individual who is not a member of the CFC's staff but who carries out relevant management functions in consequence of an arrangement between the individual and the CFC, and

(c)     expenditure incurred in the engagement

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

HCPC—Main hearing of the Health and Care Professions Tribunal

HCPC—Main hearing of the Health and Care Professions TribunalCoronavirus (COVID-19): This Practice Note contains guidance on subjects impacted by the government’s response to the coronavirus outbreak. In particular, the Health and Care Professions Council (HCPC) (Coronavirus) (Amendment) Rules Order

LEXISNEXIS

Common financial covenants

Common financial covenantsThis Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing ratio•leverage ratio (or debt to equity ratio)•current ratio (or acid test ratio)•cashflow ratio•interest cover ratio, and•loan

LEXISNEXIS

Nuisance and the rule in Rylands v Fletcher—common law liability for pollution

Private nuisancePrivate nuisance is an unlawful interference with a person's use or enjoyment of land or some right over or in connection with it. Interference must be unreasonable, and may be caused, eg by water, smoke, smell, fumes, gas, noise, heat or vibrations. Where the defendant has not

LEXISNEXIS

Defects liability period and rectification of defects

Defects liability period and rectification of defectsIt is common in construction projects for defects to manifest or appear in the works. Most construction contracts require the contractor to return to site to rectify (also known as ‘make good’) defects which arise or are discovered during a