Section 732 — Corporation Tax Act 2010: Meaning of “corporation tax advantage”

Meaning of “corporation tax advantage” 732 1 In this Part “ corporation tax advantage ” means—

a a relief from corporation tax or increased relief from corporation tax, b a repayment of corporation tax or increased repayment of corporation tax, c the avoidance or reduction of a charge to corporation tax or an assessment to corporation tax, or d the avoidance of a possible assessment to corporation tax.

2 For the purposes of subsection (1)(c) and (d) it does not matter whether the avoidance or reduction is effected—

a by receipts accruing in such a way that the recipient does not pay or bear corporation tax on them, or b by a deduction in calculating profits or gains.