Finance Act, 1989
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Surcharges: amendment of provisions relating to. |
27.—(1) Subsection (3) of section 100 of the Corporation Tax Act, 1976 , is hereby amended, in paragraph (h), by the insertion after “which” of “, apart from section 41 (2) of the Finance Act, 1980 ,” and the said paragraph (h), as so amended, is set out in the Table to this subsection. | |
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(h) the amount of the corporation tax which, apart from section 41 (2) of the Finance Act, 1980 , would be payable by the company for the accounting period if the tax were computed on the basis of the income arrived at in accordance with the preceding provisions of this subsection. | ||
(2) Subsection (1) of section 41 of the Finance Act, 1980 , is hereby amended by the insertion after “sections 58” of “, 101, 162” and the said subsection (1), as so amended, is set out in the Table to this subsection. | ||
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(1) For the purposes of this section “relevant corporation tax” means the corporation tax which, apart from this section and sections 58 , 101 , 162 , 182 and 184 of the Corporation Tax Act, 1976 , would be chargeable for the relevant accounting period exclusive of the corporation tax chargeable on the part of the company's profits attributable to chargeable gains for that period; and that part shall be taken to be the amount brought into the company's profits for that period for the purposes of corporation tax in respect of chargeable gains before any deduction for charges on income, expenses of management or other amounts which can be deducted from or set against or treated as reducing profits of more than one description. | ||
(3) This section shall apply and have effect as respects accounting periods ending on or after the 6th day of April, 1989. |