Section 3G Supplementary provisionsF1
(1)
If tax payable by a person (“P”) as a result of section 3 is paid by—
(a)
the company (“C”) to which the gain accrues, or
(b)
a company by reference to which P is regarded as an indirect participator in C,
the amount paid is not a payment to P for tax purposes.
(2)
The reference here to tax purposes is to the purposes of income tax, capital gains tax or corporation tax.
(3)
For the purposes of section 3 the amount of a gain or loss accruing to a company is calculated as if the company were a company resident in the United Kingdom chargeable to corporation tax on the gain.
Annotations
Textual amendments
- F1
Pt. 1 substituted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 2