Taxation (International and Other Provisions) Act 2010 Explanatory Notes

Section 298: Balancing payments between group companies: no tax charge or relief

579.This section provides that, where in certain defined circumstances one company makes a payment to another company as a result of an adjustment to taxable income or expenses made under this Part, then those amounts are not taken into account in computing the taxable profits of either company. It is based on paragraph 39 of Schedule 15 to FA 2009.

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