Corporation Tax Act 2009

Chapter 16 U.K. Priority rules

201 Provisions which must be given priority over this Part U.K.

(1) Any receipt or other credit item, so far as it falls within—

(a) Chapter 2 of this Part (receipts of trade), and

(b) Chapter 3 of Part 4 so far as it relates to a UK property business,

is dealt with under Chapter 3 of Part 4.

[F1 (1A) Subsection (1) does not apply in the case of the long-term business of an insurance company.]

(2) Any receipt or other credit item, so far as it falls within—

(a) this Part, and

(b) Chapter 4 of Part 10 (income from holding an office),

is dealt with under Chapter 4 of Part 10.

Textual Amendments

F1 S. 201(1A) inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 145