Taxes Consolidation Act 1997 section 172

Application of Corporation Tax Acts

Section 172 ring-fenced advance corporation tax from the general framework of the Corporation Tax Acts, so that the standard rules on charging, computing and paying corporation tax did not affect ACT.

• The section dealt with the interaction between the general Corporation Tax Acts and advance corporation tax (ACT).
• General corporation tax rules on charge, calculation and payment were not to be read as affecting ACT.
• Corporation tax reliefs and exemptions did not reduce or remove a company's ACT liability.
• The section was repealed by the Finance Act 2000 following the abolition of ACT from 6 April 1999.