# Greater London Authority Act 1999, Paragraph 7

Extent: E+W+S

Any payment made by a relevant body to a company in pursuance of a PPP agreement shall be deemed for the purposes of the Corporation Tax Acts—
(a) in the case of the relevant body, to be an expense of a revenue, rather than a capital, nature (and deductible accordingly in computing profits under Part 3 of the Corporation Tax Act 2009); and
(b) in the case of the company, to be a receipt of a trade carried on by the company (and taxable accordingly under Part 3 of the Corporation Tax Act 2009).

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Source: https://www.legislation.gov.uk/ukpga/1999/29/schedule/33/paragraph/7 (the official version)
Page: https://openlegislation.uk/greater-london-authority-act-1999/schedule-33/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.