Part 1 Main Provisions
Finance (No 2) Act 2015 (2015 c 33) | Legislation

SCHEDULE 3 Banking Companies: Surcharge

Section 17

Part 1 Main Provisions

1

In Part 7A of CTA 2010 (banking companies), after Chapter 3 insert—

“Chapter 4
Surcharge on Banking Companies
Overview
269D Overview of Chapter

(1)     This Chapter contains provision for, and in connection with, a surcharge on the profits of banking companies.

(2)     Section 269DA provides for a sum to be charged on the surcharge profits of a banking company, in excess of the company's surcharge allowance, as if it were an amount of corporation tax.

(3)     Section 269DB defines “non-banking group relief†for the purposes of calculating a company's surcharge profits.

(4)     Section 269DC defines “non-banking or pre-2016 loss relief†for the purposes of calculating a company's surcharge profits.

(5)     Section 269DD defines “relevant transferred-out gain†and “non-banking transferred-in gain†for the purposes of calculating a company's surcharge profits.

(6)     Sections 269DE to 269DK contain provision for, and in connection with, determining a company's surcharge allowance.

(7)     Sections 269DL and 269DM apply enactments relating to corporation tax to sums charged under section 269DA, modify those enactments and make other provision about administration and double taxation.

(8)     Section 269DN contains anti-avoidance provision.

(9)     Section 269DO contains provision

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Mistake in contract law

Mistake in contract lawThis Practice Note considers the legal concept of mistake in contract law. It examines common mistake, mutual mistake, unilateral mistake, mistake as to identity and mistake as to the document signed (non est factum). It also considers the impact of each of these types of

LEXISNEXIS

Common law offence of false imprisonment

Common law offence of false imprisonmentThe offence of false imprisonmentFalse imprisonment is a common law offence but it is more common as a civil action in tort (see Practice Note: False imprisonment).It is triable only on indictment. It may be classified in class 2A, 2B or 3 in accordance with

LEXISNEXIS

Fiduciary Duties

Fiduciary DutiesWho is a fiduciary?There is no comprehensive list of the relationships which give rise to the existence of fiduciary duties under common law. Some relationships are automatically fiduciary, eg those between trustee and beneficiary, solicitor and client, principal and agent, business

LEXISNEXIS

Arbitration agreements—definition, purpose and interpretation

Arbitration agreements—definition, purpose and interpretationThis Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international