Examples of ICTA 1988 in a sentence
Accounting periods ending on or after 1 April 2010 The legislation at sections 502B-G ICTA 1988 has now been rewritten to sections 360-369 CTA 2010 and the legislation at sections 502GA-GD ICTA 1988 has now been rewritten to sections 370-376 CTA 2010.
Specifically where, on or after 13 December 2007, there was an unconditional obligation under a plant or machinery lease to make a relevant capital payment at any time (section 785B(1)(a) ICTA 1988), or a capital payment was made under a lease otherwise than under such an obligation (section 785B(1)(b) ICTA 1988).
M.1 The Company has no obligation (whether legally enforceable or not) to provide or contribute to the provision of any “relevant benefit” (as defined in ICTA 1988, s 612, but without the exception of benefits payable solely by reason of accident) to or for any of its past or present officers or employees or their dependants, and there are no retirement benefit or pension or death benefit, or similar schemes or arrangements in relation to which the Company is a party.
As detailed in BLM62320 – insert hyperlink, section 785C(9A) ICTA 1988 prevented double taxation of these payments by excluding the ‘initial payments’ under a long funding lease from being capital payments within section 785C ICTA 1988.
No Shareholder shall knowingly enter into arrangements (for the purposes of Section 410 of ICTA 1988) which shall affect the right of any Shareholder to obtain consortium relief at any time when the Company has losses or other amounts available for surrender by way of consortium relief, provided that, subject to Clause 12 and the Articles, this shall not prevent any Shareholder from transferring Shares in accordance with the provisions relating thereto set out in this Agreement and the Articles.