Paragraph 13 Payments for reliefI1

United Kingdom

(1)

This paragraph applies if—

(a)

a surrendering company and a claimant company have an agreement between them in relation to qualifying levy losses of the surrendering company (“the agreed loss amounts”),

(b)

relief under this Part of this Schedule is given to the claimant company in relation to the agreed loss amounts, and

(c)

as a result of the agreement the claimant company makes a payment to the surrendering company that does not exceed the total amount of the agreed loss amounts.

(2)

The payment is not to be taken into account in calculating the qualifying levy profits or loss of either company under section 1.

Annotations

Commencement

I1: Sch. 1 para. 13 in force at Royal Assent