Finance Act, 1969
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PART VI Corporation Profits Tax | ||
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Withdrawal of shipping investment allowance. |
51.—Where the amount of a shipping investment allowance is deducted in accordance with section 22 of the Finance Act, 1957 , in computing the profits of a company for the purposes of corporation profits tax, and the shipping investment allowance is withdrawn for the purposes of income tax in accordance with subsection (1A) (b) of section 246 of the Income Tax Act, 1967 , the shipping investment allowance shall be withdrawn for the purposes of corporation profits tax and all such additional corporation profits tax assessments and adjustments of corporation profits tax assessments shall be made as may be necessary for or in consequence of the withdrawal of a shipping investment allowance or the substitution therefor of an initial allowance under section 69 of the Finance Act, 1959 . |