Paragraph 16 Limitation of group relief in relation to certain dual resident companies
(1)
Section 404 is amended as follows.
(2)
In subsection (2)(c) (accounting period for which expenses of management are disbursed)f1 for “disbursed” substitute “deductible”.
(3)
The amendment made by sub-paragraph (2) has effect in any case where the accounting period referred to in section 404(2) of the Taxes Act 1988 begins on or after 1st April 2004.
Annotations
Footnotes
- f1
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Section 404 has been amended: the relevant amendment is that made by paragraph 37(2) of Schedule 5 to the Finance Act 1998.