Paragraph 1 I1
Exempt activities carried on—
(a)
by the NDA, or
(b)
by a company while it is an NDA company,
are to be treated for corporation tax purposes as a separate trade distinct from all other activities carried on by the NDA or (as the case may be) that company.
Annotations
Commencement
- I1
Sch. 4 para. 1 in force at 5.10.2004 by S.I. 2004/2575, art. 2(1), Sch. 1