Legislation – Finance Act 2024
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2024, Paragraph 54.
Changes to Legislation
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Schedule 12Pillar Two
Part 4Minor and technical changes
Chapter 8 of Part 3 (further adjustments)
54
(1)
In section 205 (election to carry forward and reduce collective additional amount)—
(a)
in subsection (1), after “amount” insert “under section 203”
,
(b)
in subsection (2)(a)—
(i)
after “amount”, in the second place it occurs, insert “under section 203”
, and
(ii)
for “those members” substitute “the members of the group in the relevant territory”
,
(c)
in subsection (2)(b), after “amount”, in the first place it occurs, insert “under section 203”
, and
(d)
in subsection (3), after “amount”, in the second place it occurs, insert “under section 203”
.
(2)
In section 217(8) (post filing adjustments of covered taxes), in paragraph (a), at the beginning insert “the reduction of the covered tax balance of the member for the prior period resulting from”
.