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Corporation Tax Act 2009

Changes over time for: Section 445

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Changes and effects yet to be applied to Section 445:

  • S 1217N(3) modified by 2010 c. 4 s. 357UI (as inserted) by 2015 c. 21 s. 1

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445Disapplication of section 444 where [F1Part 4 of TIOPA 2010] appliesU.K.
This section has no associated Explanatory Notes

(1)Section 444 does not apply, and [F2Part 4 of TIOPA 2010] (provision not at arm's length) applies instead, to credits or debits in respect of amounts which—

(a)fall to be adjusted for tax purposes under [F3that Part], or

(b)are within [F3that Part] without falling to be so adjusted (see subsection (3)).

(2)Subsection (1) applies despite section 464 (amounts brought into account under this Part excluded from being otherwise brought into account), but is subject to—

(a)section 340(7) (disapplication of [F4Part 4 of TIOPA 2010] where group member replaces another as party to loan), and

(b)section 447(5) (disapplication of [F5that Part] for exchange gains and losses).

(3)For the purposes of subsection (1), an amount is within [F6Part 4 of TIOPA 2010] without falling to be adjusted under it in a case where—

[F7(a)the condition in section 147(1)(a) of TIOPA 2010 is met,

(aa)the participation condition is met (see subsection (3A)), and]

(b)the actual provision does not differ from the arm's length provision.

[F8(3A)Section 148 of TIOPA 2010 (when the participation condition is met) applies for the purposes of subsection (3)(aa) as it applies for the purposes of section 147(1)(b) of TIOPA 2010.]

(4)For the way in which this Part applies where adjustments are made under [F9Part 4 of TIOPA 2010,] see section 446.

(5)In this section “the actual provision” and “the arm's length provision” have the same meaning as in [F10Part 4 of TIOPA 2010 (see sections 149 and 151 of that Act)].

Textual Amendments

F1Words in s. 445 title substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 133(11) (with Sch. 9 paras. 1-9, 22)

F2Words in s. 445(1) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 133(2) (with Sch. 9 paras. 1-9, 22)

F3Words in s. 445(1)(a)(b) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 133(3) (with Sch. 9 paras. 1-9, 22)

F4Words in s. 445(2)(a) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 133(4) (with Sch. 9 paras. 1-9, 22)

F5Words in s. 445(2)(b) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 133(5) (with Sch. 9 paras. 1-9, 22)

F6Words in s. 445(3) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 133(6) (with Sch. 9 paras. 1-9, 22)

F7S. 445(3)(a)(aa) substituted for s. 445(3)(a) (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 133(7) (with Sch. 9 paras. 1-9, 22)

F8S. 445(3A) inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 133(8) (with Sch. 9 paras. 1-9, 22)

F9Words in s. 445(4) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 133(9) (with Sch. 9 paras. 1-9, 22)

F10Words in s. 445(5) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 133(10) (with Sch. 9 paras. 1-9, 22)

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