CFM72320 - Other tax rules on corporate finance: securitisation: periods beginning on or after 1 January 2007: the regulations
The Taxation of Securitisation Companies Regulations 2006 (SI2006/3296)
The details of the permanent tax regime for securitisation companies are set out in these regulations, which apply with effect from accounting periods commencing on or after 1 January 2007. The regulations are arranged in the following way.
| Regulation 1 | Provides for commencement (CFM72330). |
|---|---|
| Regulation 2 | Gives interpretations of the definitions used in the regulations, including the necessary references to TIOPA 2010 (CFM72340). |
| Regulation 3 | Explains that the regulations apply to a 바카라 사이트˜securitisation company바카라 사이트™ as defined in Regs 4 to 10, specify cases where the regulations do not apply to securitisation companies (Regs 11 and 12), specify companies that are not treated as securitisation companies (Reg 13), provide for a special corporation tax charge on a securitisation company (Reg 14), set out special rules for determining accounting periods of securitisation companies (Reg 15), and specify certain tax rules that do not apply to securitisation companies or (in certain cases) to transactions involving securitisation companies (CFM72360). |
| Regulation 4 | Defines a securitisation company as one of five named types of company (each defined in the following regulations), which has a 바카라 사이트˜retained profit바카라 사이트™ (CFM72370). |
| Regulation 5 | Defines a 바카라 사이트˜note-issuing company바카라 사이트™ (CFM72380). |
| Regulation 6 | Defines an 바카라 사이트˜asset-holding company바카라 사이트™ (CFM72410). |
| Regulation 7 | Defines an 바카라 사이트˜intermediate borrowing company바카라 사이트™ (CFM72440). |
| Regulation 8 | Defines a 바카라 사이트˜warehouse company바카라 사이트™ (CFM72450). |
| Regulation 9 | Defines a 바카라 사이트˜commercial paper funded company바카라 사이트™ (CFM72460). |
| Regulation 10 | Gives the meaning of 바카라 사이트˜retained profit바카라 사이트™ (CFM72480). |
| Regulation 11 | Specifies that the special corporation tax charge and other tax modifications do not apply to a securitisation company that fails to meet the 바카라 사이트˜payments condition바카라 사이트™ and explains the payments condition (CFM72510). |
| Regulation 12 | Specifies that the special corporation tax charge and other tax modifications do not apply to a securitisation company that has an unallowable purpose and explains the meaning of unallowable purpose (CFM72570). |
| Regulation 13 | Gives the interaction with the interim regime in FA05/S83 and specifies that companies in the interim regime must elect into the permanent regime in order to be within its application (CFM72330). |
| Regulation 14 | Sets out the special corporation tax charge that applies to securitisation companies (CFM72580). |
| Regulation 15 | Sets out the special rules for determining accounting periods of companies which begin or cease to be securitisation companies (CFM72620). |
| Regulations 16 to 20 | Provide for certain tax rules to be disapplied in relation to securitisation companies (CFM72630). |
| Regulation 21 | Prevents section 83 FA 2005 from applying to a 바카라 사이트˜securitisation company바카라 사이트™ as defined in these regulations (CFM72360). |