Corporation Tax Act 2010 section 860

Relevant corporation tax relief

Section 860 defines what counts as a deduction by way of "relevant corporation tax relief" for the purposes of the chapter dealing with sale and leaseback arrangements.

• Deductions made in calculating trading profits or losses, or UK property business profits, for corporation tax purposes are relevant corporation tax relief.
• Deductions in calculating losses from miscellaneous transactions (under section 91) or profits subject to miscellaneous charges (under section 1173) also qualify.
• Amounts treated as adjusted BLAGAB management expenses of an insurance company for an accounting period (as defined by section 73 of Finance Act 2012) are included.
• Deductions for management expenses of a company's investment business (under section 1219 of CTA 2009) are also covered.