# Finance Act 2016, Paragraph 34


(1) To the extent that the counteracted advantage (see paragraph 35) is a deferral of tax (other than VAT), the value of that advantage is—
(a) 25% of the amount of the deferred tax for each year of the deferral, or
(b) 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.
(2) This paragraph does not apply to a case to the extent that paragraph 33 applies.

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Source: https://www.legislation.gov.uk/ukpga/2016/24/schedule/18/paragraph/34 (the official version)
Page: https://openlegislation.uk/finance-act-2016/schedule-18/paragraph-34
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.