{
  "url": "https://openlegislation.uk/finance-act-1991/schedule-15/paragraph-22",
  "json_url": "https://openlegislation.uk/finance-act-1991/schedule-15/paragraph-22.json",
  "legislation": "ukpga/1991/31",
  "legislation_title": "Finance Act 1991",
  "legislation_url": "https://openlegislation.uk/finance-act-1991",
  "path": "schedule/15/paragraph/22",
  "kind": "paragraph",
  "number": "22",
  "heading": null,
  "text": "In section 825 of that Act, in subsection (4) (restrictions on repayment supplement) after paragraph (b) there shall be added the words\n“and\n(c) a repayment of corporation tax or income tax falling to be made as a result of a claim under section 393A(1) to have the whole or any part of a loss incurred in an accounting period set off against profits of an earlier accounting period ( “the earlier period)—\n(i) shall, in a case where the earlier period falls wholly within the period of twelve months immediately preceding the accounting period in which the loss was incurred, be treated as a repayment of tax paid for the earlier period; and\n(ii) in any other case, shall be treated as a repayment of tax paid for the accounting period in which the loss is incurred; and\n(d) a payment of the whole or part of a tax credit falling to be made as a result of a claim under section 242, to the extent that a surplus of franked investment income for an accounting period (the “earlier period) is treated as there mentioned for the purpose of setting a loss incurred in a later accounting period against total profits under section 393A(1)—\n(i) shall, in a case where the earlier period falls wholly within the period of twelve months immediately preceding the accounting period in which the loss is incurred, be treated as a payment in respect of franked investment income received in the earlier period; and\n(ii) in any other case, shall be treated as a payment in respect of franked investment income received in the accounting period in which the loss is incurred.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1991/31/schedule/15/paragraph/22",
    "retrieved_at": "2026-10-29T09:37:56.935967+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}