108 Provision supplementing section 107
Finance Act 2015 (2015 c 11) | Legislation

108  Provision supplementing section 107

(1)     For the purposes of section 107(3)(b) and (7), the resulting reduction in the first party's liability to a relevant tax for an accounting period is—

A x TR

·É³ó±ð°ù±ð—

A is the sum of—

(a)     if there are expenses within section 107(3)(a)(i), the lower of the amount of the expenses and the amount of the deduction mentioned in that provision, and

(b)     any reduction in income mentioned in section 107(3)(a)(ii), and

TR is the rate at which, assuming the first party has profits equal to A chargeable to the relevant tax for the accounting period, those profits would be chargeable to that tax.

(2)     For the purposes of section 107(3)(b) and (7), the resulting increase in relevant taxes payable by the second party for the corresponding accounting period is any increase in the total amount of relevant taxes that would fall to be paid by the second party (and not refunded) assuming that—

(a)     the second party's income for that period, in consequence of the material provision were an amount equal to A,

(b)     account

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