Commentary

D7.1304 General

Corporate tax
Corporate tax | Commentary

D7.1304 General

Corporate tax | Commentary

The permanent regime

D7.1304 General

Under the permanent regime a company that meets the definition of a securitisation company is taxed on its 'retained profit' rather than on the profit shown in its accounts. This is broadly comparable to the taxation of such companies under UK GAAP as at 31 December 2004, that is, on the small amount of profit retained in the securitisation vehicle. The permanent regime is set out in regulations and applies to a company with effect for accounting periods commencing on or after 1 January 20071.

From 15 September 2016, the regulation making power was extended

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