Section 445 — Corporation Tax Act 2009: Disapplication of section 444 where Part 4 of TIOPA 2010 applies

Disapplication of section 444 where Part 4 of TIOPA 2010 applies 445 1 Section 444 does not apply in relation to credits or debits of a company if—

a as a result of Part 4 of TIOPA 2010 (transfer pricing), the profits and losses of the company are to be calculated for tax purposes as if the arm's length provision to which those credits or debits would relate had been made or imposed instead of the actual provision to which they relate, or b those profits would be so calculated if the actual provision —

i conferred a potential advantage in relation to United Kingdom taxation (within the meaning of that Part) on the company, and ii differed from the arm’s length provision.

2 Subsection (1) applies despite section 464 (amounts brought into account under this Part excluded from being otherwise brought into account), but is subject to—

a section 340(7) (disapplication of Part 4 of TIOPA 2010 where group member replaces another as party to loan), ... b . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 For the way in which this Part applies where adjustments are made under Part 4 of TIOPA 2010, see section 446.

5 In this section “ the actual provision ” and “ the arm's length provision ” have the same meaning as in Part 4 of TIOPA 2010 (see sections 149 and 151 of that Act) .