Section 1254 — Corporation Tax Act 2009: Repayments under FISMA 2000

Repayments under FISMA 2000 1254 1 If as a result of a repayment provision a payment—

a is made to a company with an investment business, and b is not brought into account as a receipt of a trade under section 104, or as a receipt of a property business as a result of section 210, the payment is to be treated as an amount to which the charge to corporation tax on income applies.

2 In this section “ repayment provision ” means—

a any provision made by virtue of section 136(7) or 214(1)(e) of FISMA 2000, or b any provision made by scheme rules for fees to be refunded in specified circumstances.

3 In this section “ scheme rules ” means the rules referred to in paragraph 14(1) of Schedule 17 to FISMA 2000.