Section 212I Relevant percentage shareF1

United Kingdom

(1)

For the purposes of section 212C(5) C's “relevant percentage share” is C's percentage share in the profits or losses of the F2activity.

(2)

For this purpose C's percentage share in the profits or losses of F3an activity at any time is determined on a just and reasonable basis.

(3)

In making that determination regard must be had, in particular, to any matter that would be taken into account in determining under section 1262 of CTA 2009 (but without regard to sections 1263 and 1264 of that Act) the company's share at that time in the profits or losses of the F4activity.

Annotations

Textual amendments

F1: Pt. 2 Ch. 16A inserted (8.4.2010) (with effect in accordance with Sch. 4 para. 5, 6 to the amending Act) by Finance Act 2010 (c. 13), Sch. 4 para. 2
F2: Word in s. 212I(1) substituted (with effect in accordance with Sch. 26 para. 13 of the amending Act) by Finance Act 2013 (c. 29), Sch. 26 para. 7(2)
F3: Words in s. 212I(2) substituted (with effect in accordance with Sch. 26 para. 13 of the amending Act) by Finance Act 2013 (c. 29), Sch. 26 para. 7(3)
F4: Word in s. 212I(3) substituted (with effect in accordance with Sch. 26 para. 13 of the amending Act) by Finance Act 2013 (c. 29), Sch. 26 para. 7(2)

Notes on Part 2

Modifications

C1: Pt. 2 modified (24.2.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 10 para. 12 (with Sch. 10 para. 17(1)); S.I. 2003/120, art. 2, Sch. (with arts. 3 4) (as amended (20.2.2003) by S.I. 2003/333, art. 14)
C2: Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 10, 22 (with s. 38(2) ); S.I. 2004/2575 , art. 2(1) , Sch. 1
C3: Pt. 2 modified (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 9 paras. 9(2), 21(2) (with s. 38(2)); S.I. 2004/2575, art. 2(1) , Sch. 1
C4: Pt. 2 restricted (5.10.2004) by Energy Act 2004 (c. 20) , s. 198(2) , Sch. 4 para. 4 ; S.I. 2004/2575 , art. 2(1) , Sch. 1
C5: Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 19
C6: Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 para. 35
C7: Pt. 2 modified (22.7.2008) by Crossrail Act 2008 (c. 18), Sch. 13 paras. 36, 37
C8: Pt. 2 modified (21.7.2009) by Finance Act 2009 (c. 10), s. 24
C9: Pt. 2 modified (17.7.2013) by Finance Act 2013 (c. 29), s. 73(7)-(11) (with s. 73(6))
C10: Pt. 2 modified (10.6.2021) by Finance Act 2021 (c. 26), s. 9(1)(a)

Notes on Chapter 16A

Textual amendments

F2: Pt. 2 Ch. 16A heading substituted (with effect in accordance with Sch. 26 para. 13 of the amending Act) by Finance Act 2013 (c. 29), Sch. 26 para. 4