Liability for Taxation definition

Liability for Taxation means any liability of a Group Company to make an actual payment of or in respect of Taxation whether or not the same is primarily payable by the Group Company and whether or not the Group Company has or may have any right of reimbursement against any other person or persons and shall also include: 1.6.1 the Loss of any Relief where such Relief has been taken into account in computing and so reducing or eliminating any provision for deferred Tax which appears in the 2000 Company Financials (or which but for such Relief would have appeared in the 2000 Company Financials) or where such Relief was treated as an asset of the Group in the 2000 Company Financials or was taken into account in computing any deferred Tax asset which appears in the 2000 Company Financials in which case the amount of the Liability for Taxation shall be the amount of Taxation which would (on the basis of Tax rates current at the Balance Sheet Date) have been saved but for such Loss assuming for this purpose that the Company had sufficient profit or was otherwise in a position to use the relief; 1.6.2 the Loss of any right to repayment of Taxation (including any repayment supplement) which was treated as an asset in the 2000 Company Financials in which case the amount of the Liability for Taxation shall be the amount of the right to repayment and any related repayment supplement; and 1.6.3 the set off or use against income, profits or gains earned, accrued or received or against any Tax chargeable in respect of an event occurring on or before the Closing Date of any Relief or right to repayment of taxation (including any repayment supplement) which is not available before the Closing Date but arises after the Closing Date in circumstances where, but for such set off or use, a Group Company would have had a liability to make an actual payment of or in respect of Taxation for which the Buyer would have been able to make a claim against the Seller under this Deed in which case the amount of the Liability for Taxation shall be the amount of Taxation saved by a Group Company as a result of such set off or use.

Liability for Taxation means a liability of the Contractor to make a payment of or in respect of any Taxation or of an amount representing, equal to, equivalent to, or deemed to be, Taxation;

Liability for Taxation means any of:

Examples of Liability for Taxation in a sentence

• Saving: the reduction or elimination of any liability of the Company or a Subsidiary to make an actual payment of corporation tax in respect of which the Sellers would not have been liable under paragraph 2, by the use of any Relief (other than an Accounts Relief) arising wholly as a result of a Liability for Taxation in respect of which the Sellers have made a payment under paragraph 2 of this Tax Covenant.

• Tax Claim: any assessment (including self-assessment), notice, demand, letter or other document issued or action taken by or on behalf of any Taxation Authority from which it appears that the Company or any Subsidiary is or may be subject to a Liability for Taxation or other liability in respect of which the Warrantors are or may be liable under this Tax Covenant.

• Saving: the reduction or elimination of any liability of the Company or any Subsidiary to make a payment of Tax in respect of which the Warrantors would not have been liable under paragraph 2, by the use or set-off of any Relief arising as a result of a Liability for Taxation in respect of which the Warrantors have made full payment under paragraph 2 of this Tax Covenant Straddle Period: any accounting period that commences before the Completion Date and ends after the Completion Date.

• Saving: the reduction or elimination of any liability of the Company or a Subsidiary to make an actual payment of corporation tax in respect of which the Sellers would not have been liable under paragraph 2 by the use of any Relief arising wholly as a result of a Liability for Taxation in respect of which the Sellers have made a payment under paragraph 2 of this Tax Covenant.

• Tax Claim: any assessment (including self-assessment), notice, demand, letter or other document issued or action taken by or on behalf of any Taxation Authority from which it appears that the Buyer, the Company or a Subsidiary is or may be subject to a Liability for Taxation or other liability in respect of which the Sellers are or may be liable under this Tax Covenant.

More Definitions of Liability for Taxation

Liability for Taxation means (a) any liability of the Company or any Subsidiary to make an actual payment of, or in respect of, or on account of, Taxation whether or not the same is primarily payable by the Company or the relevant Subsidiary and whether or not the Company or the relevant Subsidiary has, or may have, any right of reimbursement against any other person, in which case the amount of the Liability for Taxation will be the amount of the actual payment; and (b) the use or setting off of any Purchaser’s Relief where, but for that set off or use, the Company or the relevant Subsidiary would have had a liability to make a payment of or in respect of Taxation for which the Purchaser would have been able to make a claim against the Management Shareholders under this Management Tax Covenant, in which case, the amount of the Liability for Taxation will be the amount of Taxation for which the Management Shareholders would have been liable but for the setting off or use;

Liability for Taxation means any liability of any of the Group Companies to make a payment of, or in respect of, Taxation, including but not limited to any liability for Taxation chargeable in respect of an event occurring on or before the date hereof notwithstanding that such liability for Taxation is set-off in whole or in part against any Relief or right to repayment of Taxation which is not available before the date hereof but arises after the date hereof;

Liability for Taxation means any liability of the Company to make a payment of or in respect of Taxation whether or not the same is primarily payable by the Company and whether or not the Company has or may have any right of reimbursement against any other person or persons and shall also include: 1.6.1 the Loss of any Relief where such Relief has been taken into account in computing and so reducing or eliminating any provision for deferred Tax which appears in the Accounts (or which but for such Relief would have appeared in the Accounts) or where such Relief was treated as an asset of the Company in the Accounts or was taken into account in computing any deferred Tax asset which appears in the Accounts in which case the amount of the Liability for Taxation shall be the amount of Taxation which would (on the basis of tax rates current at the date of such Loss) have been saved but for such Loss assuming for this purpose that the Company had sufficient profits or was otherwise in a position to use the Relief; and 1.6.2 the Loss of any right to repayment of Taxation (including any repayment supplement) which was treated as an asset in the Accounts of the Company in which case the amount of the Liability for Taxation shall be the amount of the right to repayment and any related repayment supplement; 1.6.3 the set-off or use against income, profits or gains earned, accrued or received or against any Tax chargeable in respect of an Event occurring on or before Completion of any Relief or right to repayment of Taxation (including any repayment supplement) which is not available before Completion but arises after Completion in circumstances where, but for such set-off or use, the Company would have had a liability to make a payment of or in respect of Taxation for which the Buyer would have been able to make a claim against the Covenantors under this Deed in which case the amount of the Liability for Taxation shall be the amount of Taxation saved by the Company as a result of such set-off or use

Liability for Taxation means: (a) a liability of any of the Group Companies to make a payment for or in respect of any Taxation (an “‘A’ Liability for Taxation”); (b) the utilisation of a Buyer’s Tax Relief in circumstances where, but for such utilisation, a Liability for Taxation mentioned in (a) above would have arisen in respect of which the Buyer would (ignoring the application of paragraph 1 of Schedule 3) have been able to bring a Tax Claim (a “‘B’ Liability for Taxation”); or (c) the loss, reduction or non-availability of any Accounts Relief (a “‘C’ Liability for Taxation”);

Liability for Taxation has the meaning set forth in the Tax Covenant.

Liability for Taxation means: 1.4.1 any liability of the Company to make a payment of or increased payment of Tax whether or not the same is primarily payable by the Company and whether or not the Company has or may have any right of reimbursement against any other person or persons; 1.4.2 the set-off of any Post Completion Relief against income, profits or gains earned, accrued or received on or before Completion in circumstances where, but for such set-off, the Company would have had a liability to make a payment of or increased payment of Tax in respect of which the Seller would have been liable under part 3 of this schedule in which case the amount of the Liability for Taxation shall be the amount of Tax saved by the Company as a result of such set-off; and 1.4.3 any liability of the Company to make a payment pursuant to an indemnity, guarantee or covenant entered into before Completion under which the Company has agreed to meet or pay a sum equivalent to or by reference to another person’s Tax liability, in which case the Liability for Taxation shall be equal to the amount of the liability;

Liability for Taxation means any liability of the Acquired Subsidiary to make a payment of or in respect of Taxation whether or not the same is primarily payable by the Acquired Subsidiary and whether or not the Acquired Subsidiary has or may have any right of reimbursement against any other person or persons and shall also include: