416ZC(1)  Where–

(a)a person (“R”) who is carrying on, or has ceased to carry on, a ring fence trade enters into an arrangement,

(b)under the arrangement, a person (“S”) who is connected with R provides a service to R in connection with work on the restoration of a relevant site, and

(c)(in the absence of this section) all or part of the consideration for the service would be qualifying expenditure of R under section 416ZA,

the amount of the expenditure which is qualifying expenditure is restricted under section 416ZD(1).

Want to read more?

This content requires a Croner-i Tax and Accounting subscription.

Existing subscriber? Log in

No subscription?

Contact us to discuss your requirements.