# The Finance Act 2004, Sections 38 to 40 and 45 and Schedule 6 (Consequential Amendment of Enactments) Order 2004, Paragraph 14: Group relief: meaning of “management expenses” in section 403


(1) Section 403ZD (other amounts available by way of group relief) is amended as follows.
(2) For subsection (4) (meaning of “management expenses” in section 403) substitute—
“(4) Management expenses means the aggregate of the amounts deductible under section 75(1) (expenses of management of company with investment business) by the surrendering company for this period.
It does not include an amount deductible by virtue only of section 75(9) or 392A(3) (amounts carried forward from earlier periods).”.
(3) Omit subsection (5) (which is rendered unnecessary by section 76 no longer applying section 75).
(4) In section 403ZD(4)—
(a) the reference to section 75(9) includes a reference to the old section 75(3), as read with section 43 of the Finance Act 2004, and
(b) the reference to section 392A(3) includes a reference to that provision as read with paragraph 12(4) of this Schedule.

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Source: https://www.legislation.gov.uk/uksi/2004/2310/schedule/paragraph/14 (the official version)
Page: https://openlegislation.uk/finance-act-2004-sections-38-to-40-and-45-and-schedule-6-consequential-amendment-of-enactments-order-2004/schedule/paragraph-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.