Search Legislation

Corporation Tax Act 2010

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Section 624

 Help about opening options

Version Superseded: 15/09/2016

Alternative versions:

Status:

Point in time view as at 01/04/2010. This version of this provision has been superseded. Help about Status

Changes to legislation:

Corporation Tax Act 2010, Section 624 is up to date with all changes known to be in force on or before 09 June 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

624Power to make regulations about the taxation of securitisation companiesU.K.

This section has no associated Explanatory Notes

(1)The Treasury may by regulations make provision about the application of the Corporation Tax Acts in relation to a securitisation company.

(2)The regulations may, in particular, provide for the application, modification or non-application of any of the provisions of the Corporation Tax Acts.

(3)The regulations may, in particular, provide—

(a)that the amount of profits of any specified description (before any such adjustments as are mentioned in subsection (4)) is to be taken to be such amount, or is to be calculated on such basis, as may be specified, and

(b)that the amount determined in accordance with regulations under paragraph (a) is to be brought into account for corporation tax purposes instead of any specified amount that would otherwise fall to be brought into account.

(4)The regulations may, in particular, provide for specified adjustments to be made to the amount to be brought into account for corporation tax purposes.

(5)The regulations may, in particular, provide—

(a)that the regulations apply to a company only if an election that they are to apply is made, or

(b)that the regulations do not apply to a company if an election that they are not to apply is made.

(6)The regulations may, in particular, provide that once subject to the regulations a company is to continue to be subject to them for all subsequent periods of account.

(7)The regulations may, in particular, impose conditions that must be met if a company is to have, or continue to have, the benefit of the regulations.

(8)The regulations may, in particular, provide for the consequences of failing to meet any specified condition (which may include recalculating the company's profits for previous periods on the basis that the regulations did not apply).

(9)In this section “specified” means specified in the regulations.

Back to top

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open The Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act without Schedules as a PDF

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?