C1C2C3C4Part 4Transfer pricing
Pt. 4 excluded (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 2 para. 6(2); S.I. 2011/2329, art. 3
Pt. 4 excluded (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 4 para. 3(2); S.I. 2011/2576, art. 5
Pt. 4 excluded (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 129(11) (with s. 147, Sch. 17)
C5CHAPTER 6Balancing payments
Pt. 4 Chs. 1 and 3-6 applied (1.4.2022 in relation to accounting periods beginning on or after that date) by Finance Act 2022 (c. 3), s. 51(1), Sch. 9 paras. 3, 4
199Pre-conditions for making election under section 200
1
Conditions A to E are the pre-conditions for the purposes of section 200.
2
Condition A is that both of the affected persons are companies.
3
Condition B is that only one of the affected persons (“the advantaged person”) is a person on whom a potential advantage in relation to United Kingdom taxation is conferred by the actual provision.
4
Condition C is that the other affected person (“the disadvantaged person”) is within the charge to income tax or corporation tax in respect of profits arising from the relevant activities (see section 216).
5
Condition D is that the actual provision is provision in relation to a security (the “relevant security”).
6
Condition E is that the capital market condition is met (see section 204).
7
In subsections (5) and (8)(a) “security” includes securities not creating or evidencing a charge on assets.
8
For the purposes of subsection (5), any—
a
interest payable by a company on money advanced without the issue of a security for the advance, or
b
other consideration given by a company for the use of money so advanced,
is to be treated as if payable or given in respect of a security issued for the advance by the company, and the reference in subsection (5) to a security is to be read accordingly.
Pt. 4 excluded by 2010 c. 4, s. 938N (as inserted (19.7.2011) by Finance Act 2011 (c. 11), Sch. 5 para. 2)