Finance Act 2014
Sections and provisions with full text and the judgments that cite each one.
Section 779B — Relevant amount to be treated as income
Relevant amount to be treated as income 779B 1 The relevant amount is to be treated as income of the transferor chargeable to corporation tax in the same way and to the same extent as that in which…
Section 808C — Assets representing expenditure incurred in course of separate theatrical trade
Assets representing expenditure incurred in course of separate theatrical trade 808C 1 This Part does not apply to an intangible fixed asset held by a theatrical production company so far as the…
Section 809AAZA — Application of Chapter
Application of Chapter 809AAZA 1 This Chapter applies (subject to subsection (2)) if directly or indirectly in consequence of, or otherwise in connection with, arrangements involving a person within…
Section 809DZA — Application of Chapter
Application of Chapter 809DZA 1 This Chapter applies if conditions A and B are met. 2 Condition A is (subject to subsection (3)) that directly or indirectly in consequence of, or otherwise in…
Section 809AAZB — Relevant amount to be treated as income
Relevant amount to be treated as income 809AAZB 1 The relevant amount is to be treated as income of the transferor chargeable to income tax in the same way and to the same extent as that in which the…
Section 809DZB — Relevant amount to be treated as income
Relevant amount to be treated as income 809DZB 1 The relevant amount is to be treated as income of the transferor chargeable to income tax in the same way and to the same extent as that in which it—…
Section 850C — Excess profit allocation to non-individual partners
Excess profit allocation to non-individual partners 850C 1 Subsections (4) and (5) apply if— a for a period of account (“the relevant period of account”)— i the calculation under section 849 in…
Section 850D — Excess profit allocation: cases involving individuals who are not partners
Excess profit allocation: cases involving individuals who are not partners 850D 1 Subsections (4) and (5) apply if— a at a time during a period of account (“the relevant period of account”) in…
Section 850E — Payments by B out of the excess part of B's profit share
Payments by B out of the excess part of B's profit share 850E 1 Subsection (2) applies in a case in which section 850C(4) or section 850D(4) applies if— a there is an agreement in place in relation…
Section 863A — Limited liability partnerships: salaried members
Limited liability partnerships: salaried members 863A 1 Subsection (2) applies at any time when conditions A to C in sections 863B to 863D are met in the case of an individual (“M”) who is a member…
Section 863B — Condition A
Condition A 863B 1 The question of whether condition A is met is to be determined at the following times— a if relevant arrangements are in place— i at the beginning of the tax year 2014-15, or ii if…
Section 863C — Condition B
Condition B 863C Condition B is that the mutual rights and duties of the members of the limited liability partnership, and of the partnership and its members, do not give M significant influence over…
Section 863D — Condition C
Condition C 863D 1 Condition C is that, at the time at which it is being determined whether the condition is met (“ the relevant time ”), M's contribution to the limited liability partnership (see…
Section 863E — M's contribution to the limited liability partnership: the basic calculation
M's contribution to the limited liability partnership: the basic calculation 863E 1 For the purposes of condition C in section 863D M's contribution to the limited liability partnership at a time is…
Section 863F — M's contribution to the limited liability partnership: deemed contributions
M's contribution to the limited liability partnership: deemed contributions 863F 1 This section applies if— a by the time mentioned in section 863D(3)(a), M has given an undertaking (whether or not…
Section 863G — Anti-avoidance
Anti-avoidance 863G 1 In determining whether section 863A(2) applies in the case of an individual who is a member of a limited liability partnership, no regard is to be had to any arrangements the…
Section 863H — Election for special provision for alternative investment fund managers to apply
Election for special provision for alternative investment fund managers to apply 863H 1 Section 863I applies in relation to an AIFM trade of an AIFM firm if the AIFM firm elects for that section to…
Section 863I — Allocation of profit to the AIFM firm
Allocation of profit to the AIFM firm 863I 1 This section applies for a period of account of the AIFM trade if— a the calculation under section 849 in relation to a partner (“P”) in the AIFM firm…
Section 863J — Vesting of remuneration represented by the allocated profit
Vesting of remuneration represented by the allocated profit 863J 1 Subsection (2) applies if all or a part of the variable remuneration represented by the allocated profit vests in P at a time when P…
Section 863K — Vesting statements
Vesting statements 863K 1 This section applies if all or a part of the variable remuneration represented by the allocated profit vests in P. 2 If P requests it in writing, the AIFM firm must provide…
Section 863L — The AIFMD remuneration guidelines
The AIFMD remuneration guidelines 863L In sections 863I to 863K “ the AIFMD remuneration guidelines ” means the “Guidelines on Sound Remuneration Policies under the AIFMD” issued by the European…
Section 870A — Claims for relief made under sections 152 and 153 of TCGA 1992
Claims for relief made under sections 152 and 153 of TCGA 1992 870A 1 Subsection (2) applies where— a a company has made a claim for relief under section 152 or 153 of TCGA 1992 (roll-over relief)…
Section 1007A — Application of Chapter in relation to employees of overseas companies who work for companies in the UK
Application of Chapter in relation to employees of overseas companies who work for companies in the UK 1007A 1 This section applies if— a a person has an employment (“the actual employment”) with a…
Section 1015A — Application of Chapter: employees of overseas companies who take up employment with a UK company
Application of Chapter: employees of overseas companies who take up employment with a UK company 1015A 1 This section applies if— a a person (“E”) has, or had, an employment with a non-UK resident…
Section 1015B — Application of Chapter in relation to employees of overseas companies who work for companies in the UK
Application of Chapter in relation to employees of overseas companies who work for companies in the UK 1015B 1 This section applies if— a a person has an employment (“the actual employment”) with a…
Section 1025A — Application of Chapter: employees of overseas companies who take up employment with, or work for, a UK company
Application of Chapter: employees of overseas companies who take up employment with, or work for, a UK company 1025A 1 This section applies if— a a person (“E”) has, or had, an employment (“the…
Section 1025B — Application of Chapter where original relief a consequence of section 1007A, 1015A or 1015B
Application of Chapter where original relief a consequence of section 1007A, 1015A or 1015B 1025B 1 This section applies if the original relief is available under— a Chapter 2 as a consequence of…
Section 1030A — Application of Chapter: employees of overseas companies who take up employment with, or work for, a UK company
Application of Chapter: employees of overseas companies who take up employment with, or work for, a UK company 1030A 1 This section applies if— a a person (“E”) has, or had, an employment (“the…
Section 1030B — Application of Chapter where original relief a consequence of section 1007A, 1015A or 1015B
Application of Chapter where original relief a consequence of section 1007A, 1015A or 1015B 1030B 1 This section applies if the original relief is, or would have been, available under— a Chapter 2 as…
Section 1217FA — “Theatrical production”
“Theatrical production” 1217FA 1 In this Part “ theatrical production ” means a dramatic production or a ballet (and any ballet is therefore a theatrical production, whether or not it is also a…
Section 1217GA — The commercial purpose condition
The commercial purpose condition 1217GA 1 The “commercial purpose condition” is that at the beginning of the production phase the company intends that all, or a high proportion of, the live…
Section 1217IA — Calculation of profits or losses of separate theatrical trade
Calculation of profits or losses of separate theatrical trade 1217IA 1 For the first period of account during which the separate theatrical trade is carried on, the following are brought into…
Section 1217JA — “Qualifying expenditure”
“Qualifying expenditure” 1217JA 1 In this Part “ qualifying expenditure ”, in relation to a theatrical production, means core expenditure (see section 1217GC) on the theatrical production that— a…
Section 1217KA — Amount of surrenderable loss
Amount of surrenderable loss 1217KA 1 The company's surrenderable loss in the accounting period is— a the company's available loss for the period in the separate theatrical trade (see subsections (2)…
Section 1217LA — Tax avoidance arrangements
Tax avoidance arrangements 1217LA 1 A company does not qualify for relief in relation to a theatrical production if there are any tax avoidance arrangements relating to the production. 2 Arrangements…
Section 1217MA — Restriction on use of losses before completion period
Restriction on use of losses before completion period 1217MA 1 Subsection (2) applies if a loss is made by the company in the separate theatrical trade in an accounting period preceding the…
Section 1217NA — Clawback of provisional relief
Clawback of provisional relief 1217NA 1 If a statement is made under section 1217N(2) but it subsequently appears that the EEA expenditure condition will not be met on the company's ceasing to carry…
Section 1217OA — “Company tax return”
“Company tax return” 1217OA In this Part “ company tax return ” has the same meaning as in Schedule 18 to FA 1998 (see paragraph 3(1) of that Schedule).
Section 1217FB — Productions not regarded as theatrical
Productions not regarded as theatrical 1217FB 1 A dramatic production or ballet is not regarded as a theatrical production if— a the main purpose, or one of the main purposes, for which it is made is…
Section 1217GB — The EEA expenditure condition
The EEA expenditure condition 1217GB 1 The “EEA expenditure condition” is that at least 25% of the core expenditure on the theatrical production incurred by the company is EEA expenditure. 2 In this…
Section 1217IB — Income from the production
Income from the production 1217IB 1 References in this Part to income from a theatrical production are to any receipts by the company in connection with the making or exploitation of the production.…
Section 1217KB — Payment in respect of theatre tax credit
Payment in respect of theatre tax credit 1217KB 1 If a company— a is entitled to a theatre tax credit for an accounting period, and b makes a claim, the Commissioners for Her Majesty's Revenue and…
Section 1217LB — Transactions not entered into for genuine commercial reasons
Transactions not entered into for genuine commercial reasons 1217LB 1 A transaction is to be ignored for the purpose of determining a relief mentioned in subsection (2) so far as the transaction is…
Section 1217MB — Use of losses in the completion period
Use of losses in the completion period 1217MB 1 Subsection (2) applies if a loss made in the separate theatrical trade is carried forward under section 45 of CTA 2010 to the completion period. 2 So…
Section 1217OB — Index
Index 1217OB In this Part— “ commercial purpose condition ” has the meaning given by section 1217GA; “ company tax return ” has the meaning given by section 1217OA; “ core expenditure ” has the…
Section 1217FC — “Production company”
“Production company” 1217FC 1 A company is the production company in relation to a theatrical production if the company (acting otherwise than in partnership)— a is responsible for producing, running…
Section 1217GC — “Core expenditure”
“Core expenditure” 1217GC 1 In this Part “ core expenditure ”, in relation to a theatrical production, means expenditure on the activities involved in— a producing the production, and b closing the…
Section 1217IC — Costs of the production
Costs of the production 1217IC 1 References in this Part to the costs of a theatrical production are to expenditure incurred by the company on— a the activities involved in developing, producing,…
Section 1217KC — Limit on State aid
Limit on State aid 1217KC 1 The total amount of any theatre tax credits payable under section 1217KB in the case of any undertaking is not to exceed 50 million euros per year. 2 In this section “…
Section 1217MC — Terminal losses
Terminal losses 1217MC 1 This section applies if— a the company ceases to carry on the separate theatrical trade, and b if the company had not ceased to carry on the separate theatrical trade, it…