Finance Act 2015 (c. 11)

PART 3 U.K. Diverted profits tax

Calculation of taxable diverted profits: section 80 or 81 cases U.K.

83 Section 80 or 81 cases where no taxable diverted profits arise U.K.

(1) Where section 80 or 81 applies in relation to a company for an accounting period, no taxable diverted profits arise to the company in that period in relation to the material provision in question if—

(a) the actual provision condition is met, and

(b) either—

(i) there are no diverted profits of that company for the accounting period, or

(ii) the full transfer pricing adjustment has been made.

F1 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) “The full transfer pricing adjustment” is made if all of the company's diverted profits for the accounting period are taken into account in an assessment to corporation tax included, before the end of the review period, in the company's company tax return for the accounting period.

Textual Amendments

F1 S. 83(2) omitted (with effect in accordance with Sch. 6 para. 8 of the amending Act) by virtue of Finance Act 2019 (c. 1), Sch. 6 para. 3