Related HMRC Manuals

486E(1)  This Chapter does not apply in relation to an accounting period (“the relevant accounting period”) of a company (“the holding company”) for which an arrangement produces a return for the company if the arrangement involves only relevant shares held by the company throughout the relevant period.

486E(2)  In this section “the relevant period” means the period–

(a)beginning with the later of–

(i)the time when the holding company becomes party to the arrangement, and

(ii)the time when the arrangement begins to produce a return for the company, and

(b)ending with the earliest of–

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