GROUP INCOME Clause Samples
The 'Group Income' clause defines how income generated by a group, such as a partnership, joint venture, or corporate group, is to be treated and allocated among its members. Typically, this clause outlines the sources of group income, the method for calculating each member's share, and the timing of distributions. For example, it may specify that all revenues from joint activities are pooled and then divided according to pre-agreed percentages or formulas. The core function of this clause is to ensure transparency and fairness in the distribution of group earnings, thereby preventing disputes and clarifying financial expectations among participants.
GROUP INCOME. The Disclosure Documents contain full particulars of all elections made by the Company under section 247, ICTA 1988 and all such elections are now in force and the Company has not paid any dividend without advance corporation tax or made any payment without deduction of income tax in the circumstances specified in section 247(6), ICTA 1988 and no assessment has been made on the Company in respect of advance corporation tax which ought to have been paid or income tax which ought to have been deducted.
GROUP INCOME. The Company is not and never has been a member of a group of companies for the purpose of any taxation.
GROUP INCOME. The Disclosure Letter contains particulars of all elections made by the Company under Section 247 Taxes Act 1988 and the Company has not paid any dividend without paying advance corporation tax or made any payment without deduction of income tax in the circumstances specified in sub-section (6) of that section. In respect of each such election the conditions of ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇ have at all times and continue to be satisfied.
GROUP INCOME. The Disclosure Documents contain full particulars of all elections made by the Company under section 247, TA 88 and all such elections are now in force and the Company has not paid any dividend without advance corporation tax or made any payment without deduction of income tax in the circumstances specified in section 247(6), TA 88 and no assessment has been made on the Company in respect of advance corporation tax which ought to have been paid or income tax which ought to have been deducted.
GROUP INCOME. The Company has not made an election under Section 247 of TA and the Company has not paid any dividend without accounting for advance corporation tax or made any payment without deduction of income tax in circumstances specified in subsection 6 of that Section.
GROUP INCOME. The Disclosure Letter contains particulars of all elections made by any UK Company under s.247 Taxes Act 1988 (dividends etc. paid by one member of a group to another) and all such elections are now in force.
GROUP INCOME. The Disclosure Letter contains particulars of all elections effective at the date hereof made by each member of the Sale Group under s.247 Taxes Act 1988.
GROUP INCOME. 33.1 No assessment has been made under section 247 ICTA 1988 on a Group Company in respect of advance corporation tax which ought to have been paid or income tax which ought to have been deducted.
33.2 Save as disclosed, no assessment may so far as GEC is aware be made under section 247 ICTA 1988 on a Group Company in respect of advance corporation tax which ought to have paid or income tax which ought to have been deducted since the Accounts Date.