43 Companies with investment business: transitional provisions
Finance Act 2004 (2004 c 12) | Legislation

43  Companies with investment business: transitional provisions

(1)     Any amount which, apart from this subsection, would have fallen to be treated under the old section 75(3) as if it had been disbursed as expenses of management for the first new accounting period of a company shall instead be treated as if it were expenses of management deductible for that period by virtue of the new section 75(9).

(2)     To the extent that any amount was deductible under subsection (1) of section 75 for an old accounting period, the amount shall not again be deductible under that subsection for a new accounting period.

(3)     Subsection (2) is without prejudice to the old section 75(3) and the new section 75(9) (carry forward of unrelieved excess to later accounting period).

(4)     To the extent that an amount—

(a)     was not deductible under section 75(1) by

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