Paragraph 4 F1
To the extent that the tax advantage mentioned in section 212A F2or 212B (as the case may be) is a deferral of tax, the value of the counteracted advantage is—
25% of the amount of the deferred tax for each year of the deferral, or
a percentage of the amount of the deferred tax, for each separate period of deferral of less than a year, equating to 25% per year,
or, if less, 100% of the amount of the deferred tax.
This paragraph does not apply to a case to the extent that paragraph 3 applies.
Annotations
Textual amendments
- F1
Sch. 43C inserted (15.9.2016) (with effect in accordance with s. 158(15) of the amending Act) by Finance Act 2016 (c. 24), s. 158(3)
- F2
Words in Sch. 43C para. 4(1) inserted (with effect in accordance with s. 124(2) of the amending Act) by Finance Act 2021 (c. 26), Sch. 32 para. 13(6)
Notes on Schedule 43C
Textual amendments
- F2
Words in Sch. 43C heading inserted (with effect in accordance with s. 124(2) of the amending Act) by Finance Act 2021 (c. 26), Sch. 32 para. 13(2)