Taxation (International and Other Provisions) Act 2010 section Schedule 9 paragraph 36

Reimbursement by defaulter in respect of certain abandonment expenditure

Schedule 9 paragraph 36 provides a transitional modification to the rules on reimbursement of abandonment expenditure by a defaulting party, extending the relevant time limit from four years to six years for periods before 1 April 2012.

• This paragraph applies where the transitional provisions in article 10 of the Finance Act 2008 Appointed Day Order (SI 2009/403) are in effect.
• It modifies the reimbursement rules in section 225T(5) of ITTOIA 2005 relating to abandonment expenditure by a defaulting party.
• For times before 1 April 2012, the relevant time period in that provision is extended from four years to six years.
• This ensures a smooth transition between the old and new time limits during the changeover period.