Legislation 4-6

Question 1

specify that grants under

• section 7 or 8 Industrial Development Act 1982 (c. 52)
• Article 7, 9 or 30 Industrial Development (Northern Ireland) Order 1982 (S.I. 1982/1083 (N.I. 15))

are taxed as a revenue receipt, unless the grant is either

• designated as made towards the cost of specified capital expenditure
• designated as compensation for the loss of capital assets, or
• for all or part of a corporation tax liability (including one that has already been met).

Answer 1

S105 ITTOIA (for individuals and partnerships)
s102 CTA09 (for companies)

Question 2

S105 ITTOIA (for individuals and partnerships)
s102 CTA09 (for companies)

Answer 2

specify that grants under

• section 7 or 8 Industrial Development Act 1982 (c. 52)
• Article 7, 9 or 30 Industrial Development (Northern Ireland) Order 1982 (S.I. 1982/1083 (N.I. 15))

are taxed as a revenue receipt, unless the grant is either

• designated as made towards the cost of specified capital expenditure
• designated as compensation for the loss of capital assets, or
• for all or part of a corporation tax liability (including one that has already been met).