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39 1997

TAXES CONSOLIDATION ACT, 1997

CHAPTER 8

Advance corporation tax

Liability for advance corporation tax.

[FA83 s38]

159. —Except where otherwise provided for in this Chapter, where a company resident in the State makes a distribution, the company shall be liable to make a payment of corporation tax (to be known as “advance corporation tax”) in accordance with this Chapter and, subject to section 162 , the amount of advance corporation tax shall, whether or not the recipient of the distribution is a person entitled to a tax credit in respect of the distribution, be equal to the amount of the tax credit to which a recipient who is such a person is entitled in respect of the distribution.

Set-off of advance corporation tax.

[FA83 s39]

160. —(1) In this section, “surplus advance corporation tax”, in relation to an accounting period, means advance corporation tax which cannot be set against the company's liability to corporation tax for that period because of a want or deficiency of income charged to corporation tax for that period or because of any relief from or reduction in the amount of corporation tax charged on such income for that period.

(2) Advance corporation tax paid by a company (and not repaid) in respect of any distribution made by it in an accounting period shall be set, in so far as possible, against the company's liability to corporation tax on any income charged to corporation tax for that accounting period and shall accordingly discharge a corresponding amount of that liability.

(3) Where in the case of any accounting period of a company there is an amount of surplus advance corporation tax, the company may, within 2 years after the end of that period, claim to have the whole or any part of that amount treated for the purposes of this section (but not of any further application of this subsection) as if it were advance corporation tax paid in respect of distributions made by the company in any of its accounting periods ending in the period of 12 months immediately preceding that accounting period (but so that the amount which is the subject of the claim is set, in so far as possible, against the company's liability for a more recent accounting period before a more remote one), and in so far as may be required corporation tax shall be repaid accordingly.

(4) Where in the case of any accounting period of a company there is an amount of surplus advance corporation tax which has not been dealt with under subsection (3), that amount shall be treated for the purposes of this section (including any further application of this subsection) as if it were advance corporation tax paid in respect of distributions made by the company in the next accounting period.

(5) For the purposes of this section, the income of a company charged to corporation tax for any accounting period shall be taken to be the amount of its profits for that period on which corporation tax falls finally to be borne exclusive of the part of the profits attributable to chargeable gains, and that part shall be taken to be the amount brought into the company's profits for that period for the purposes of corporation tax in respect of chargeable gains before any deduction for charges on income, expenses of management or other amounts which can be deducted from or set against or treated as reducing profits of more than one description.

(6) For the purposes of this section, a notice under section 884 may require the inclusion in the return to be delivered by a company under that section of particulars of any surplus advance corporation tax carried forward in relation to that company under subsection (4).

(7) This section shall apply subject to sections 161 to 172 .

Rectification of excessive set-off of advance corporation tax.

[FA83 s40]

161. —Where an inspector discovers that any set-off of advance corporation tax under section 160 ought not to have been made, or is or has become excessive, the inspector may make any such assessments as may in his or her judgment be required for recovering any tax that ought to have been paid and generally for securing that the resulting liabilities to tax (including interest on unpaid tax) of the person concerned are what they would have been if only such set-offs had been made as ought to have been made.

Calculation of advance corporation tax where company receives distributions.

[FA83 s41]

162. —(1) In this section, references to a distribution or distributions shall not include references to a distribution or distributions—

(a) made before the 9th day of February, 1983, or

(b) treated under this Chapter as not being a distribution or distributions for the purposes of this section.

(2) Where in any accounting period a company receives a distribution, the company shall not be liable to pay advance corporation tax in respect of distributions made by it in that period unless the aggregate amount of the tax credits in respect of the distributions made by the company in the period exceeds the aggregate amount of the tax credits in respect of distributions received by it in the period.

(3) Where in any accounting period there is an excess referred to in subsection (2), the amount of advance corporation tax payable by the company in respect of distributions made by it in that period shall be equal to the excess.

(4) Where the aggregate amount of the tax credits in respect of distributions received by a company in an accounting period exceeds the sum of—

(a) the aggregate amount of the tax credits (if any) in respect of distributions made by the company in that period, and

(b) the amount of any payment to the company under any provision of the Corporation Tax Acts of the tax credits in respect of distributions received by it in that period,

the excess shall be carried forward to the next accounting period and be treated for the purposes of this section (including any further application of this subsection) as a tax credit in respect of a distribution received by the company in that period.

(5) Where an inspector discovers that, because of the payment to a company of the tax credit in respect of a distribution received by it or for any other reason, the amount carried forward under subsection (4) to an accounting period (and treated as a tax credit in respect of a distribution received by the company in that period) is or has become excessive, the inspector may make any such assessments, adjustments or set-offs as may in his or her judgment be required for securing that the amount of advance corporation tax (including interest on unpaid tax) payable by the company in respect of distributions made by it in that period is the same as it would have been if only such an amount had been so carried forward as ought to have been carried forward.

Tax credit recovered from company.

[FA83 s42(1)]

163. —Where under the Corporation Tax Acts a company obtains payment of a tax credit in respect of a distribution received by it and that tax credit or any part of that tax credit is subsequently recovered from the company by an assessment on it to income tax under Case IV of Schedule D, the amount of the tax credit so recovered shall be treated for the purposes of section 162 as if it were a tax credit in respect of a distribution received by the company in the accounting period in which the amount is so recovered.

Restrictions as to payment of tax credit.

[FA83 s43]

164. —(1) Where—

(a) by virtue of section 162 the amount of advance corporation tax payable by a company in respect of distributions made by it in an accounting period is less than the amount of advance corporation tax which would have been payable by the company in respect of those distributions if that section had not been enacted, and

(b) either—

(i) no amount is treated under section 162 (4) as a tax credit in respect of a distribution received by the company in the accounting period, or

(ii) the aggregate amount of the tax credits in respect of distributions made by the company in the accounting period is greater than the amount which is so treated under section 162 (4),

then, an amount of the tax credits in respect of distributions received by the company in the accounting period shall not be available for payment to the company under the Corporation Tax Acts, and the amount which is not so available shall be the aggregate amount of the tax credits in respect of distributions received by the company in the accounting period or, if it is less, an amount determined by the formula—

A − B

where—

A is the aggregate amount of the tax credits in respect of distributions made by the company in the accounting period, and

B is the amount (if any) so treated under section 162 (4).

(2) For the purposes of subsection (1), account shall not be taken of any distribution treated as not being a distribution for the purposes of section 159 or 162 under any provision of this Chapter.

Group dividends.

[FA83 s44; FA92 s51(1); FA94 s55; FA96 s58(1)(a)]

165. —(1) (a) In this section—

trading or holding company” means a trading company or a company whose business consists wholly or mainly in the holding of shares or securities of trading companies which are its 90 per cent subsidiaries;

trading company” means a company whose business consists wholly or mainly of the carrying on of a trade or trades.

(b) For the purposes of this section, a company shall be owned by a consortium if 75 per cent or more of the ordinary share capital of the company is beneficially owned between them by 5 or fewer companies of which none beneficially owns less than 5 per cent of that capital, and those companies are referred to in this section as “the members of the consortium”.

(c) In determining for the purposes of this section whether one company is a 51 per cent subsidiary of another company, that other company shall be treated as not being the owner of—

(i) any share capital which it owns directly or indirectly in a company not resident in the State, or

(ii) any share capital which it owns indirectly and which is owned directly by a company for which a profit on the sale of the shares would be a trading receipt.

(d) References in this section to a dividend or dividends received by a company shall apply to any received by another person on behalf of or in trust for the company but not to any received by the company on behalf of or in trust for another person.

(e) References in this section to dividends shall be construed as including references to distributions on the redemption, repayment or purchase by a company of its own shares or on the acquisition of those shares by another company which is a subsidiary (within the meaning of section 155 of the Companies Act, 1963 ) of the company, and references to the receipt of dividends or to the payment of dividends shall be construed accordingly.

(2) (a) Where a company receives dividends from another company (both being companies resident in the State) and the company paying the dividends is—

(i) a 51 per cent subsidiary of the other company or of a company so resident of which the other company is a 51 per cent subsidiary, or

(ii) a trading or holding company owned by a consortium the members of which include the company receiving the dividends,

then, subject to paragraph (b) and subsections (3) to (6)

(I) any such dividends shall be treated as not being distributions for the purposes of either section 159 or 162 , and

(II) the tax credits in respect of those dividends shall not be available for payment, under any provision of the Corporation Tax Acts, to the company by which the dividends are received.

(b) The company paying the dividends may elect by notice in writing to the inspector that this section shall not apply in relation to any amount of dividends specified in the notice.

(3) An election under subsection (2)(b) shall not be valid unless—

(a) the election is made before the due date for the payment, by the company paying the dividends, of advance corporation tax for the accounting period in which the dividends are paid, and

(b) the advance corporation tax in respect of those dividends has been paid.

(4) Subsection (2) shall not apply to any dividend received by a company on any investments if a profit on the sale of those investments would be treated as a trading receipt of the company.

(5) Where a company purports by virtue of subsection (2) to pay any dividend without paying advance corporation tax and advance corporation tax ought to have been paid, the inspector may make such assessments, adjustments or set-offs as may in his or her judgment be required for securing that the resulting liabilities to tax (including interest on unpaid tax) of the company paying and the company receiving the dividend are, in so far as possible, the same as they would have been if the advance corporation tax had been duly paid.

(6) Where tax assessed under subsection (5) on the company which paid the dividend is not paid by that company before the expiry of 3 months from the date on which that tax is payable, that tax shall, without prejudice to the right to recover it from that company, be recoverable from the company which received the dividend.

Surrender of advance corporation tax.

[FA83 s45; FA91 s69(a)]

166. —(1) Where a company (in this section referred to as “the surrendering company”) has paid an amount of advance corporation tax in respect of a dividend or dividends paid by it in an accounting period and the advance corporation tax has not been repaid, and if throughout the accounting period the surrendering company would be treated as a member of a group of companies for the purposes of group relief under Chapter 5 of Part 12 , the surrendering company may, on making a claim to the inspector, surrender the benefit of the whole or any part of that amount to any company (in this section referred to as “the recipient company”) which for the purposes of group relief would be treated as a member of the same group of companies throughout that accounting period or (in such proportions as the surrendering company may determine) to any 2 or more such companies.

(2) Subject to subsections (4) and (5), where the benefit of any amount of advance corporation tax (in this section referred to as “the surrendered amount”) is surrendered under this section to a recipient company, then—

(a) if the advance corporation tax mentioned in subsection (1) was paid in respect of one dividend only or of dividends all of which were paid on the same date, the recipient company shall be treated for the purposes of section 160 as having paid an amount of advance corporation tax equal to the surrendered amount in respect of a distribution made by it on the date on which the dividend or dividends were paid, and

(b) if the advance corporation tax mentioned in subsection (1) was paid in respect of dividends paid on different dates, the recipient company shall be treated for the purposes of section 160 as having paid an amount of advance corporation tax equal to the appropriate part of the surrendered amount in respect of a distribution made by it on each of those dates.

(3) For the purposes of subsection (2)(b), “the appropriate part of the surrendered amount”, in relation to any distribution treated as made on the same date as that on which a dividend was paid, means such part of that amount as bears to the whole of that amount the same proportion as the amount of the tax credit in respect of that dividend bears to the total amount of the tax credits in respect of the dividends mentioned in that subsection.

(4) No amount of advance corporation tax which a recipient company is treated as having paid by virtue of subsection (2) shall, under section 160 (3), be set against the recipient company's liability to corporation tax; but, in determining for the purposes of subsections (3) and (4) of section 160 what amount (if any) of surplus advance corporation tax there is in any accounting period of a recipient company, an amount so treated as having been paid shall be set against the recipient company's liability to corporation tax before any advance corporation tax paid in respect of any distribution made by the recipient company.

(5) No amount of advance corporation tax which a recipient company is treated as having paid by virtue of subsection (2) shall be set against the recipient company's liability to corporation tax for any accounting period in which, or in any part of which, the recipient company and the surrendering company would not be treated for the purposes of group relief under Chapter 5 of Part 12 as members of the same group of companies.

(6) Any claim under this section shall be made within 2 years after the end of the accounting period to which that claim relates and shall require the consent or consents of the recipient company or companies concerned (which shall be notified to the inspector in such form as the Revenue Commissioners may require).

(7) No amount of advance corporation tax which has been set off under section 160 (2) or dealt with under section 160 (3) shall be available for the purposes of a claim under this section, and no amount of advance corporation tax, the benefit of which has been surrendered under this section, shall be treated for the purposes of section 160 as advance corporation tax paid by the surrendering company.

(8) A payment made by a recipient company to a surrendering company in pursuance of an agreement between them as respects the surrender of the benefit of an amount of advance corporation tax, being a payment not exceeding that amount—

(a) shall not be taken into account in computing profits or losses of either company for corporation tax purposes, and

(b) shall not be regarded as a distribution or a charge on income for any of the purposes of the Corporation Tax Acts.

(9) References in this section to dividends shall be construed as including references to distributions on the redemption, repayment or purchase by a company of its own shares or on the acquisition of those shares by another company which is a subsidiary (within the meaning of section 155 of the Companies Act, 1963 ) of the company, and references to the payment of dividends shall be construed accordingly.

Change of ownership of company: calculation and treatment of advance corporation tax.

[FA83 s46(1) to (8)]

167. —(1) In this section—

trading company” means a company whose business consists wholly or mainly of the carrying on of a trade or trades;

investment company” means a company (other than a holding company) whose business consists wholly or mainly in the making of investments and the principal part of whose income is derived from the making of investments;

holding company” means a company whose business consists wholly or mainly in the holding of shares or securities of companies which are its 90 per cent subsidiaries and which are trading companies.

(2) This section shall apply if—

(a) within any period of 3 years there is both a change in the ownership of a company and (either earlier or later in that period, or at the same time) a major change in the nature or conduct of a trade or business carried on by the company, or

(b) at any time after the scale of the activities in a trade or business carried on by a company has become small or negligible, and before any considerable revival of the trade or business, there is a change in ownership of the company.

(3) Sections 160 , 162 and 171 shall apply to an accounting period in which the change of ownership occurs as if the part ending with the change of ownership and the part after that change were 2 separate accounting periods, and for that purpose the income of the company charged to corporation tax for the accounting period (as determined in accordance with section 160 (5)) shall be apportioned between those parts.

(4) No advance corporation tax paid by the company in respect of distributions made in an accounting period beginning before the change of ownership shall be treated under section 160 (4) as paid by it in respect of distributions made in an accounting period ending after the change of ownership, and this subsection shall apply to an accounting period in which the change of ownership occurs as if the part ending with the change of ownership and the part after that change were 2 separate accounting periods.

(5) In subsection (2)(a), “major change in the nature or conduct of a trade or business” includes—

(a) a major change in the type of property dealt in, or services or facilities provided, in the trade or business,

(b) a major change in customers, outlets or markets of the trade or business,

(c) a change whereby the company ceases to be a trading company and becomes an investment company or vice versa, or

(d) where the company is an investment company, a major change in the nature of the investments held by the company,

and this section shall apply even if the change is the result of a gradual process which began outside the period of 3 years mentioned in subsection (2)(a).

(6) Subsection (4) shall apply to advance corporation tax which a company is treated as having paid by virtue of section 166 (2) as it applies to advance corporation tax paid by the company.

(7) Subsections (6) and (7) of section 401 shall apply for the purposes of this section as they apply for the purposes of that section and shall so apply as if—

(a) the reference in paragraph 3 of Schedule 9 to losses or capital allowances were a reference to advance corporation tax, and

(b) the reference in paragraph 7 of Schedule 9 to the 16th day of May, 1973, were a reference to the 9th day of February, 1983.

(8) Section 1075 shall apply in relation to a notice given under paragraph 8 of Schedule 9 (as applied for the purposes of this section by subsection (7)) as it applies in relation to such a notice given for the purposes of section 401 .

Distributions to certain non-resident companies.

[FA83 s47(1) to (3); FA91 s69(b); FA96 s58(1)(b)]

168. —(1) (a) This section shall apply to any distribution which—

(i) is a distribution by virtue only of section 130 (2)(d)(iv), or

(ii) is a dividend paid by a company (in this subsection referred to as “the first-mentioned company”) to another company—

(I) (A) of which the first-mentioned company is a 75 per cent subsidiary, or

(B) which is a member of a consortium which owns the first-mentioned company,

and

(II) which is a resident of the United States of America or of a territory with the government of which arrangements having the force of law by virtue of section 826 have been made.

(b) For the purposes of paragraph (a)

a company shall be owned by a consortium if 75 per cent or more of the ordinary share capital of the company is beneficially owned between them by 5 or fewer companies of which none beneficially owns less than 5 per cent of that capital, and those companies are referred to as “members of the consortium”;

resident of the United States of America” has the meaning assigned to it by the Convention set out in Schedule 25 ;

a company shall be regarded as being a resident of a territory, other than the United States of America, if it is so regarded under arrangements made with the government of that territory and having the force of law by virtue of section 826 ;

the reference to a dividend paid by a company shall be construed as including a reference to a distribution made by the company on the redemption, repayment or purchase of its own shares or by another company which is a subsidiary (within the meaning of section 155 of the Companies Act, 1963 ) of the company on the acquisition of those shares.

(2) Where a company proves that this section applies to a distribution made by it and claims to have the distribution treated as not being a distribution for the purposes of section 159 , then—

(a) the distribution shall be so treated, and

(b) notwithstanding any provision of the Tax Acts, the company to which the distribution is made shall not be entitled to a tax credit in respect of the distribution.

(3) Any claim under this section shall be made in the return made under section 171 for the accounting period in which the distribution is made and shall require the consent, notified to the inspector in such form as the Revenue Commissioners may require, of the company to which the distribution is made.

Non-distributing investment companies.

[FA83 s47A; FA95 s37]

169. —(1) In this section, “relevant company” means a company which—

(a) is an investment company within the meaning of Part XIII of the Companies Act, 1990,

(b) is a qualified company within the meaning of section 446 , and

(c) makes only one payment in respect of any share or security issued by it, being a payment made in the redemption, repayment or purchase of the share.

(2) Where a company proves that it is a relevant company and claims to have every payment made by it in the redemption, repayment or purchase of shares issued by it treated as not being or including a distribution for the purposes of section 159 , then—

(a) every such payment shall be so treated, and

(b) notwithstanding any provision of the Tax Acts, the person to whom each such payment is made shall not be entitled to a tax credit in respect of it.

(3) A claim under this section shall be made in writing to the inspector in a form prescribed by the Revenue Commissioners and shall be submitted together with the company's return of profits for the accounting period which is the first accounting period in which the company makes any payment to which subsection (2) relates.

Interest in respect of certain securities.

[FA83 s48(1), (2)(a), (3) and (4)]

170. —(1) Subject to subsection (2), this section shall apply to any interest which is a distribution and is paid by a company in respect of a security of the company within subparagraph (ii), (iii)(I) or (v) of section 130 (2)(d), where—

(a) the security in respect of which the interest is paid was issued by the company to another company the ordinary trading activities of which include the lending of money, and

(b) either—

(i) the obligation to pay the interest was entered into before the 9th day of February, 1983, or

(ii) that obligation was entered into before the 9th day of June, 1983, pursuant to negotiations which were in progress on the 9th day of February, 1983;

but an obligation shall be treated for the purposes of paragraph (b) as having been entered into before a particular date only if before that date there was in existence a binding contract in writing under which that obligation arose and, where that contract was subject to the execution of a loan agreement, the loan agreement was duly executed before the 9th day of June, 1983.

(2) Where a period of repayment (in this subsection referred to as “the repayment period”) of either principal or interest provided for under an obligation referred to in subsection (1)(b) is extended on or after the 9th day of February, 1983 (whether or not the right to such an extension arose out of the terms of the contract creating that obligation), this section shall not apply to any interest which is paid in respect of the period by which the repayment period is extended.

(3) Interest to which this section applies shall not be treated as a distribution for the purposes of either section 159 or 162 .

(4) The tax credit in respect of any interest to which this section applies shall not be available under the Corporation Tax Acts for payment to the person by whom the interest is received.

Returns, payment and collection of advance corporation tax.

[FA83 s50; FA90 s55; FA93 s41; FA97 s146(2) and Sch9 PtII]

171. —(1) This section shall apply for the purpose of regulating the time and manner in which advance corporation tax shall be accounted for and paid.

(2) A company shall make for each of its accounting periods in accordance with this section a return to the inspector of the distributions made and distributions received by the company in that period and of the advance corporation tax (if any) payable by the company in respect of the distributions made by it.

(3) A return for any period for which a return is required to be made under this section shall be made within 9 months from the end of that period.

(4) A return under this section need not be made by a company for an accounting period in which it has not made a distribution.

(5) (a) The return made by a company for an accounting period shall show—

(i) the amount of the distributions made by the company in the period and the amount of the tax credits in respect of those distributions,

(ii) the amount (if any) of the distributions received by the company in the period and the amount of the tax credits in respect of those distributions,

(iii) the amount of any tax credit carried forward to the accounting period and treated under section 162 (4) as a tax credit in respect of a distribution received by the company in that period, and

(iv) the amount (if any) of advance corporation tax payable by the company in respect of the distributions made by it in the period.

(b) The return shall specify whether any amount of tax credits is included pursuant to paragraph (a)(i) in respect of distributions treated under this Chapter as not being distributions for the purposes of section 159 and, if so, the amount so included.

(c) The return shall specify whether any amount of tax credits is included pursuant to paragraph (a)(ii) in respect of distributions treated under this Chapter as not being distributions for the purposes of section 162 and, if so, the amount so included.

(d) Where any amount is included in the return pursuant to subparagraph (ii) or (iii) of paragraph (a), the inclusion shall be treated as a claim by the company to have it taken into account in determining the amount of advance corporation tax payable, and any such claim shall be supported by such evidence as the inspector may reasonably require.

(6) (a) Advance corporation tax in respect of any distribution required to be included in a return under this section shall be due within 6 months from the end of the accounting period for which the return is required to be made under subsection (3) and shall be paid to the Collector-General, and advance corporation tax so due shall be payable by the company without the making of any assessment; but advance corporation tax which has become so due may be assessed on the company (whether or not it has been paid when the assessment is made).

(b) Notwithstanding paragraph (a), where the last day of the period within which the advance corporation tax is due is a day after the 28th day of the month in which that period ends, the advance corporation tax shall be due not later than the 28th day of that month.

(7) Where it appears to the inspector that there is a distribution which ought to have been and has not been included in a return, or where the inspector is dissatisfied with any return, the inspector may make an assessment on the company to the best of his or her judgment, and any advance corporation tax due under an assessment made by virtue of this subsection shall be treated for the purposes of interest on unpaid tax as having been payable at the time when it would have been payable if a correct return had been made.

(8) Where a company makes a distribution on a date which does not fall within an accounting period of the company, an accounting period of the company shall be deemed to end on that date and the company shall make a return of that distribution within 6 months from that date, and the advance corporation tax for which the company is accountable in respect of that distribution shall be due at the time by which the return is to be made.

(9) Where any item has been incorrectly included in a return under this section as a distribution made or received by a company, the inspector may make any such assessments, adjustments or set-offs as may in his or her judgment be required for securing that the resulting liabilities to tax, including interest on unpaid tax, whether of the company or of any other person, are in so far as possible the same as they would have been if the item had not been so included.

(10) (a) Advance corporation tax assessed on a company under this section shall be due within one month after the issue of the notice of assessment (unless due earlier under subsection (6) or (8)), subject to any appeal against the assessment; but no such appeal shall affect the date when tax is due under subsection (6) or (8).

(b) On the determination of an appeal against an assessment under this section, any tax overpaid shall be repaid.

(11) (a) The provisions of the Corporation Tax Acts relating to—

(i) assessments to corporation tax,

(ii) appeals against such assessments (including the rehearing of appeals and the statement of a case for the opinion of the High Court), and

(iii) the collection and recovery of corporation tax,

shall, in so far as they are applicable, apply to the assessment, collection and recovery of advance corporation tax under this section.

(b) Any tax payable in accordance with this section without the making of an assessment shall carry interest at the rate of 1.25 per cent for each month or part of a month from the date when the tax becomes due and payable until payment.

(c) Subsections (2) to (4) of section 1080 shall apply in relation to interest payable under paragraph (b) as they apply in relation to interest payable under section 1080 .

(d) In its application to any tax charged by any assessment to advance corporation tax in accordance with this section, section 1080 shall apply as if subsection (1)(b) of that section were deleted.

(12) Sections 861 (2)(b), 884 (5), 1071 and 1072 shall, with any necessary modifications, apply in relation to a return under this section as they apply in relation to a return under section 884 .

(13) In this section, references to a distribution or distributions do not include references to a distribution or distributions made by a company not resident in the State.

Application of Corporation Tax Acts.

[FA83 s53]

172. —The provisions of the Corporation Tax Acts as to the charge, calculation and payment of corporation tax (including provisions conferring any relief or exemption) shall not be construed as affecting the charge, calculation or payment of advance corporation tax.