Finance Act, 1984
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Extension of section 52 (transitional reduction of advance corporation tax) of Finance Act, 1983. |
47.— Section 52 of the Finance Act, 1983 , is hereby amended by the substitution of— | |
(a) “31st day of December” for “8th day of February” in each place where it occurs, and | ||
(b) “1st day of January, 1985” for “9th day of February, 1984” in each place where it occurs, | ||
and the said section 52, as so amended, is set out in the Table to this section. | ||
TABLE | ||
52.—(1) Notwithstanding anything in this Chapter, the amount of advance corporation tax which a company shall be liable to pay in respect of distributions made by it in an accounting period ending on or before the 31st day of December, 1984, shall be one-half of the amount of advance corporation tax which, apart from this section, the company would have been liable to pay in respect of those distributions. | ||
(2) Where part of an accounting period of a company falls before the 1st day of January, 1985, and the other part falls in a period beginning on that date, this Chapter shall apply as if the part ending on the 31st day of December, 1984, and the part beginning on the 1st day of January, 1985, were two separate accounting periods. |