Income Tax Act 2007 (c. 3)

[F1 Part 12A U.K. Sale and lease-back etc]

Textual Amendments

F1 Pt. 12A 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. 4 para. 2 (with Sch. 9 paras. 1-9, 22)

[F2 Chapter 4 U.K. Leased assets: capital sums

Textual Amendments

F2 Pt. 12A Ch. 4 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. 4 para. 5 (with Sch. 9 paras. 1-9, 22)

Charge to income tax U.K.

681DF Adjustments where sum obtained before payment made U.K.

(1) This section applies if a capital sum is obtained as mentioned in section 681DC and later a payment is made as mentioned in section 681DB.

(2) Adjustments must be made if they are needed to give effect to a charge to income tax under section 681DD in respect of the capital sum.

(3) An adjustment may be made within the period ending with the fifth anniversary of the 31 January following the tax year in which the payment is made.

(4) Subsection (3) applies despite any time limit specified in the Income Tax Acts.]