Part 14 Relocation of Section 36 of FA 1998 and Section 111 of FA 2009
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

Part 14 Relocation of Section 36 of FA 1998 and Section 111 of FA 2009

Taxes Management Act 1970 (c 9)

78

TMA 1970 is amended as follows.

79

In Part 5A (payment of tax) after section 59E insert—

“59F Arrangements for paying tax on behalf of group members

(1)     An officer of Revenue and Customs may enter into arrangements for the specified purpose with some or all of the members of a group.

(2)     For the purposes of subsection (1), arrangements entered into with some or all of the members of a group are for “the specified purpose†if they are arrangements for one of those members to discharge any liability of each of those members to pay corporation tax for the accounting periods to which the arrangements relate.

(3)     For the purposes of this section, a company and all its 51% subsidiaries form a group and, if any of those subsidiaries has 51% subsidiaries, the group includes them and their 51% subsidiaries, and so on.

(4)     Arrangements entered into under subsection (1)—

(a)     may make provision in relation to cases where companies become or cease to be members of a group,

(b)     may make provision

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Enforcing a warrant of control

Enforcing a warrant of controlThis Practice Note has been produced by enforcement specialists, The Sheriffs Office. It guides users through the process of enforcing a warrant of control obtained from the County Court as a method of enforcing a money judgment; whereby the judgment creditor takes

LEXISNEXIS

Public inquiry procedure

Public inquiry procedureThe procedure by which a public inquiry is conducted will vary significantly from one inquiry to the next. Even for inquiries established under the Inquiries Act 2005 (IA 2005), the associated inquiry rules are not particularly prescriptive as to how they ought to be

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

LEXISNEXIS

Forming enforceable contracts—consideration

Forming enforceable contracts—considerationThis Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in