Corporation Tax Act 2010
Corporation Tax Act 2010 (2010 c. 4)
- Corporation Tax Act 2010 (2010 c. 4)
- Part 1 Introduction
- 1 Overview of Act
- Part 2 Calculation of liability in respect of profits
- Chapter 1 Introduction
- 2 Overview of Part
- Chapter 2 Rates at which corporation tax on profits charged
- 3 Corporation tax rates
- Chapter 3 Calculation of amount to which rates applied
- 4 Amount of profits to which corporation tax rates applied
- Chapter 4 Currency
- The currency to be used in tax calculations
- 5 Basic rule: sterling to be used
- 6 UK resident company operating in sterling and preparing accounts in another currency
- 7 UK resident company operating in currency other than sterling and preparing accounts in another currency
- 8 UK resident company preparing accounts in currency other than sterling
- 9 Non-UK resident company preparing return of accounts in currency other than sterling
- 9A Designated currency of a UK resident investment company
- 9B Period for which an election under section 9A has effect
- 9C Chargeable gains and losses of companies
- Translating amounts into other currencies
- 10 The equivalent in another currency of a sterling amount
- 11 Sterling equivalents: basic rule
- 12 Sterling equivalents: carried-back amounts
- 13 Sterling equivalents: carried-forward amounts
- Adjustment of sterling losses
- 14 Carried-back amounts
- 15 Carried-forward amounts
- Interpretation
- 16 Sections 13(2) and 15(5): profit against which carried-forward amount to be set off
- 17 Interpretation of Chapter
- Part 3 Companies with small profits
- The small profits rate
- 18 Profits charged at the small profits rate
- Marginal relief
- 19 Marginal relief
- 20 Company with only ring fence profits
- 21 Company with ring fence profits and other profits
- 22 The ring fence amount
- 23 The remaining amount
- The lower limit and the upper limit
- 24 The lower limit and the upper limit
- 25 Associated companies
- 26 Section 25(3): treatment of certain non-trading companies
- 27 Attribution to persons of rights and powers of their associates
- 28 Associated companies: fixed-rate preference shares
- 29 Association through a loan creditor
- 30 Association through a trustee
- Supplementary
- 31 Power to obtain information
- 32 Meaning of “augmented profits”
- 33 Interpretation of section 32(2) and (3)
- 34 Close investment-holding companies
- PART 3A Companies with small profits
- The standard small profits rate for non-ring fence profits
- 18A Profits charged at the standard small profits rate
- Marginal relief
- 18B Marginal relief for companies without ring fence profits
- 18C Marginal relief for companies with ring fence profits
- The lower limit and the upper limit
- 18D The lower limit and the upper limit
- 18E Associated companies
- 18F Section 18E(3): treatment of certain non-trading companies
- 18G Attribution to persons of rights and powers of their partners
- 18H Associated companies: fixed-rate preference shares
- 18I Association through a loan creditor
- 18J Association through a trustee
- Supplementary
- 18K Power to obtain information
- 18L Meaning of “augmented profits”
- 18M Interpretation of section 18L(3)
- 18N Close investment-holding companies
- Part 4 Loss relief
- Chapter 1 Introduction
- 35 Overview of Part
- Chapter 2 Trade losses
- Introduction
- 36 Introduction to Chapter
- Relief in loss-making period and carry back relief
- 37 Relief for trade losses against total profits
- 38 Limit on deduction if accounting period falls partly within 12 month period
- 39 Terminal losses: extension of periods for which relief may be given
- 40 Ring fence trades: extension of periods for which relief may be given
- 41 Sections 39 and 40: transfers of trade to obtain relief
- 42 Ring fence trades: further extension of period for relief
- 43 Claim period in case of ring fence or mineral extraction trades
- 44 Trade must be commercial or carried on for statutory functions
- Carry forward of trade loss relief
- 45 Carry forward of pre-1 April 2017 trade loss against subsequent trade profits
- 45A Carry forward of post-1 April 2017 trade loss against total profits
- 45B Carry forward of post-1 April 2017 trade loss against trade profits
- 45C Re-application of section 45A if loss remains after previous application
- 45D Application of section 45B if loss remains after application of section 45A
- 45E Re-application of section 45B if loss remains after previous application
- 45F Terminal losses: relief unrestricted by Part 7ZA and 7A
- 45G Section 45F: accounting period falling partly within 3 year period
- 45H Section 45F: transfers of trade to obtain relief
- 46 Use of trade-related interest and dividends if insufficient trade profits
- 47 Registered societies
- Restrictions on relief: farming or market gardening
- 48 Farming or market gardening
- 49 Reasonable expectation of profit
- 50 Cessation of trades
- 51 Companies treated as same person as individual
- Restrictions on relief: commodity futures
- 52 Dealings in commodity futures
- Other restrictions on relief
- 53 Leasing contracts and company reconstructions
- 54 Non-UK resident company: receipts of interest, dividends or royalties
- Chapter 3 Limited partners and members of limited liability partnerships
- Introduction
- 55 Introduction to Chapter
- Limited partners
- 56 Restriction on reliefs for limited partners
- 57 Meaning of “contribution to the firm”
- 58 Meaning of “limited partner”
- Members of LLPs
- 59 Restriction on relief for members of LLPs
- 60 Meaning of “contribution to the LLP”
- 61 Unrelieved losses brought forward
- Chapter 4 Property losses
- UK property businesses
- 62 Relief for losses made in UK property business
- 63 Company with investment business ceasing to carry on UK property business
- 64 UK property business to be commercial or carried on for statutory functions
- 65 UK furnished holiday lettings business treated as trade
- Overseas property businesses
- 66 Relief for losses made in overseas property business
- 67 Overseas property business to be commercial or carried on for statutory functions
- 67A EEA furnished holiday lettings business treated as trade
- Insurance companies
- 67B Exclusion in the case of property businesses of insurance companies
- Chapter 5 Losses on disposal of shares
- Share loss relief against income
- 68 Share loss relief
- 69 Eligibility conditions
- 70 Entitlement to claim
- 71 How relief works
- 72 Limit on deduction if accounting period falls partly within 12 month period
- Shares: subscription and disposal
- 73 Subscription for shares
- 74 Disposals of new shares
- 75 Limits on relief
- 76 Disposal of shares forming part of mixed holding
- 77 Section 76: supplementary
- Qualifying trading companies: the requirements
- 78 Qualifying trading companies
- 79 The trading requirement
- 80 Ceasing to meet trading requirement because of administration etc
- 81 The control and independence requirement
- 82 The qualifying subsidiaries requirement
- 83 The property managing subsidiaries requirement
- 84 The gross assets requirement
- 85 The unquoted status requirement
- 86 Power to amend requirements by Treasury order
- Qualifying trading companies: supplementary
- 87 Relief after an exchange of shares for shares in another company
- 88 Substitution of new shares for old shares
- 89 Deemed time of issue for certain shares
- Interpretation
- 90 Interpretation of Chapter
- Chapter 6 Losses from miscellaneous transactions
- 91 Relief for losses from miscellaneous transactions
- Chapter 7 Write-off of government investment
- 92 Loss relief to be reduced if government investment is written off
- 93 Groups of companies
- 94 Cases in which government investment is written off
- 95 Meaning of “carry-forward losses”
- 96 Interaction with other tax provisions
- Part 5 Group relief
- Chapter 1 Introduction
- 97 Introduction to Part
- Chapter 2 Surrender of company's losses etc for an accounting period
- Introduction
- 98 Overview of Chapter
- Basic provisions about surrendering losses and other amounts
- 99 Surrendering of losses and other amounts
- 100 Meaning of “trading loss”
- 101 Meaning of “capital allowance excess”
- 102 Meaning of “UK property business loss”
- 103 Meaning of “management expenses”
- 104 Meaning of “non-trading loss on intangible fixed assets”
- Restrictions on losses and other amounts that may be surrendered
- 105 Restriction on surrender of losses etc within section 99(1)(d) to (g)
- 106 Restriction on losses etc surrenderable by UK resident
- 107 Restriction on losses etc surrenderable by non-UK resident
- 108 Meaning of “non-UK profits”
- 109 Restriction on losses etc surrenderable by dual resident
- 110 Restriction on surrender of losses etc from alternative finance arrangements
- Chapter 3 Surrenders made by non-UK resident company resident or trading in the EEA
- Introduction
- 111 Overview of Chapter
- 112 EEA related definitions
- Basic provisions about surrendering losses and other amounts
- 113 Steps to determine extent to which loss etc can be surrendered
- Conditions that must be met
- 114 The equivalence condition
- 115 The EEA tax loss condition: companies resident in EEA territory
- 116 The EEA tax loss condition: companies not resident in EEA territory
- 117 The qualifying loss condition: general
- 118 The qualifying loss condition: relief for current and previous periods
- 119 The qualifying loss condition: relief for future periods
- 120 The qualifying loss condition: non-UK tax relief in another territory
- 121 The precedence condition
- Other rules, assumptions and exclusions
- 122 Assumptions to be made in recalculating EEA amount
- 123 Assumptions as to UK residence
- 124 Assumptions as to places in which activities carried on
- 125 Assumptions as to accounting periods
- 126 Assumptions in relation to capital allowances
- 127 Amounts excluded because of certain arrangements
- 128 Rules for recalculating EEA amount
- Chapter 4 Claims for group relief
- Introduction
- 129 Overview of Chapter
- Surrenderable amounts under Chapter 2
- 130 Group relief claims on amounts surrenderable under Chapter 2
- 131 The group condition
- 132 Consortium condition 1
- 133 Consortium conditions 2 and 3
- 134 Meaning of “UK related” company
- 134A Companies “established in the EEA”
- ...
- 135 Group relief claims on amounts surrenderable under Chapter 3
- 136 The EEA group condition
- Giving of group relief
- 137 Deduction from total profits
- General limitation on amount of group relief to be given
- 138 Limitation on amount of group relief applying to all claims
- 139 Unused part of the surrenderable amounts
- 140 Unrelieved part of claimant company's available total profits
- 141 Sections 139 and 140: supplementary
- 142 Meaning of “the overlapping period”
- Limitations on group relief if claim based on consortium condition 1, 2 or 3
- 143 Condition 1: surrendering company owned by consortium
- 144 Condition 1: claimant company owned by consortium
- 145 Conditions 2 and 3: limitations in sections 143 and 144
- 146 Conditions 2 and 3: companies in link company's group
- 146A Conditions 1 and 2: surrendering company not controlled by claimant company etc
- 146B Conditions 1 and 3: claimant company not controlled by surrendering company etc
- 147 Conditions 1 and 2: surrenderable amounts including trading loss
- 148 Conditions 1 and 2: surrendering company in group of companies
- 149 Conditions 1 and 3: claimant company in group of companies
- Chapter 5 Subsidiaries, groups and consortiums
- Introduction
- 150 Overview of Chapter
- Explanations of terms
- 151 Meaning of “75% subsidiary” and “90% subsidiary”
- 152 Groups of companies
- 153 Companies owned by consortiums and members of consortiums
- Arrangements for transfers of companies
- 154 Arrangements for transfer of member of group of companies etc
- 155 Arrangements for transfer of company owned by consortium etc
- 155A Certain arrangements not within sections 154 and 155
- 155B Certain mortgage arrangements not within sections 154 and 155
- 156 Sections 154 and 155: supplementary
- Chapter 6 Equity holders and profits or assets available for distribution
- Introduction
- 157 Introduction to Chapter
- Equity holders
- 158 Meaning of “equity holder”
- 159 Use of relevant company's assets
- 160 Meaning of “ordinary shares”
- 161 Meaning of “restricted right to dividends”
- 162 Meaning of “normal commercial loan”
- 163 Normal commercial loans: company's results or value of assets
- 164 Sections 160 and 162: supplementary
- 164A Loan forming part of tier two capital
- Company's entitlement to profits or assets available for distribution: basic provisions
- 165 Proportion of profits available for distribution to which company is entitled
- 166 Proportion of assets available for distribution to which company is entitled
- 167 Profits or assets available for distribution and entitlement: supplementary
- 168 Meaning of “the relevant accounting period”
- Company's entitlement to profits or assets available for distribution: supplementary
- 169 Application and interpretation of sections 170 to 182
- 170 Shares or securities with limited rights
- 171 Shares or securities with temporary rights
- 172 Company A's proportion if shares etc have temporary rights
- 173 Cases in which option arrangements are in place
- 174 Company A's proportion if option arrangements in place
- 174A Certain option arrangements not within section 173
- 174B Certain mortgage arrangements not within section 173
- 175 Cases in which both sections 170 and 172 apply
- 176 Cases in which both sections 170 and 174 apply
- 177 Cases in which both sections 172 and 174 apply
- 178 Cases in which sections 170, 172 and 174 all apply
- 179 Cases in which surrendering or claimant company is non-UK resident
- 180 Company A's proportion if non-UK resident involved
- 181 Assumptions to be applied if non-UK resident company involved
- 182 Assets etc referable to UK trade
- Chapter 7 Miscellaneous provisions and interpretation of Part
- Miscellaneous
- 183 Payments for group relief
- 184 References to “allowance” in CAA 2001
- Interpretation
- 185 “Trading company” and “holding company”
- 186 When activities of a company are double taxation exempt
- 187 “Non-UK tax”
- 188 Other definitions
- PART 5A Group relief for carried-forward losses
- CHAPTER 1 Introduction
- 188AA Introduction to Part
- CHAPTER 2 Surrender of company's carried-forward losses etc
- 188BA Overview of Chapter
- 188BB Surrender of carried-forward losses and other amounts
- 188BC Restriction on surrendering pre-1 April 2017 losses etc
- 188BD Restriction where investment business has become small or negligible
- 188BE Restriction where surrendering company could use losses etc itself
- 188BF Restriction where surrendering company has no income-generating assets
- 188BG Restrictions for certain insurance companies
- 188BH Restriction on surrender of losses etc made when UK resident
- 188BI Restriction on surrender of losses made when non-UK resident
- 188BJ Restriction on surrender losses etc made when dual resident
- CHAPTER 3 Claims for group relief for carried-forward losses
- Introduction
- 188CA Overview of Chapter
- Claiming group relief for carried-forward losses
- 188CB Claims in relation to all the surrenderable amounts
- 188CC Claims in relation to the surrenderable amounts that are attributable to a specified accounting period
- 188CD Claim not allowed by company with unused carried-forward losses of its own
- 188CE The group condition
- 188CF Consortium condition 1
- 188CG Consortium condition 2
- 188CH Consortium condition 3
- 188CI Consortium condition 4
- 188CJ Meaning of “UK related” company
- Giving group relief for carried-forward losses
- 188CK Deductions from total profits
- CHAPTER 4 Limitations on relief: claims under section 188CB
- Introduction
- 188DA Overview
- General limitation on amount of relief
- 188DB Limitation on amount of relief applying to all claims under section 188CB
- 188DC Unused part of the surrenderable amounts
- 188DD Claimant company's relevant maximum for overlapping period
- 188DE Previously claimed group relief for carried-forward losses
- 188DF Sections 188DC to 188DE: supplementary
- 188DG Sections 188DC and 188DE: meaning of “the overlapping period”
- Further limitations on amount of relief if claim based on consortium conditions 1 or 2
- 188DH Condition 1: ownership proportion
- 188DI Condition 2: ownership proportion
- 188DJ Condition 2: companies in link company's group
- 188DK Conditions 1 and 2: claimant company not controlled by surrendering company etc
- 188DL Conditions 1 and 2: claimant company in group of companies
- CHAPTER 5 Limitations on relief: claims under section 188CC
- Introduction
- 188EA Overview of Chapter
- General limitation on amount of relief
- 188EB Limitation on amount of relief applying to all claims under section 188CC
- 188EC Unused part of surrenderable amounts attributable to specified loss-making period
- 188ED Claimant company's relevant maximum for the overlapping period
- 188EE Previously claimed group relief for carried-forward losses
- 188EF The potential Part 5 group relief amount
- 188EG Sections 188EC to 188EE: supplementary
- 188EH Sections 188EC and 188EE: meaning of “the overlapping period”
- Further limitations on amount of relief that apply in particular cases
- 188EI Condition 4: companies in link company's group
- 188EJ Condition 3 or 4: surrendering company not controlled by claimant company etc
- 188EK Condition 3 or 4: surrendering company in group of companies
- CHAPTER 6 Miscellaneous provisions and interpretation of Part
- Miscellaneous
- 188FA Payments for group relief for carried-forward losses
- Interpretation
- 188FB Subsidiaries, groups and consortiums
- 188FC “Trading company” and “holding company”
- 188FD Other definitions
- Part 6 Charitable donations relief
- Chapter 1 Nature of relief
- 189 Relief for qualifying charitable donations
- 190 Qualifying charitable donations: meaning
- Chapter 2 Certain payments to charity
- Qualifying payments
- 191 Qualifying payments
- 192 Condition as to repayment
- 193 Associated acquisition etc
- 194 Distributions
- 195 Associated benefits
- 196 Associated benefits: meaning
- 197 Restrictions on associated benefits
- 198 Payments and benefits linked to periods of less than 12 months
- Payment attributed to earlier period
- 199 Payment attributed to earlier accounting period
- Interpretation
- 200 Company wholly owned by a charity
- 201 Associated persons
- 202 “Charity”
- 202A “Registered club”
- CHAPTER 2A Payments to community amateur sports clubs: anti-abuse
- 202B Restriction on relief for payments to community amateur sports clubs
- 202C “Inflated member-related expenditure”
- Chapter 3 Certain disposals to charity
- Amounts treated as qualifying charitable donations
- 203 Certain disposals of investments
- 204 Meaning of qualifying investment
- 205 Meaning of qualifying interest in land
- 206 The relievable amount
- 207 Incidental costs of making disposal
- 208 Consideration
- Value of net benefit to charity
- 209 Value of net benefit to charity
- 210 Market value of qualifying investments
- 210A Acquisition value of qualifying investments
- 211 Meaning of “disposal-related obligation”
- 212 Meaning and amount of “disposal-related liability”
- Special provisions about qualifying interests in land
- 213 Certificate required from charity
- 214 Qualifying interests in land held jointly
- 215 Calculation of relievable amount etc where joint disposal of interest in land
- 216 Disqualifying events
- Interpretation
- 217 “Charity”
- PART 6A Relief for expenditure on grassroots sport
- 217A Relief for expenditure on grassroots sport
- 217B Meaning of qualifying expenditure on grassroots sport
- 217C Meaning of qualifying sport body
- 217D Relationship between this Part and Part 6
- Part 7 Community investment tax relief
- Chapter 1 Introduction
- CITR
- 218 Meaning of “CITR”
- 219 Eligibility for CITR
- 220 Form and amount of CITR
- 220A Carry forward of CITR
- 220B Limit on State aid
- Miscellaneous
- 221 Meaning of “making an investment”
- 222 Determination of “the invested amount”
- 223 Meaning of “the 5 year period” and “the investment date”
- 224 Overview of other Chapters of Part
- Chapter 2 Qualifying investments
- 225 Qualifying investments: introduction
- 226 Conditions to be met in relation to loans
- 227 Conditions to be met in relation to securities
- 228 Conditions to be met in relation to shares
- 229 Tax relief certificates
- 230 No pre-arranged protection against risks
- Chapter 3 General conditions
- 231 No control of CDFI by investor
- 232 Investor must have beneficial ownership
- 233 Investor must not be accredited
- 234 No acquisition of share in partnership
- 235 No tax avoidance purpose
- Chapter 4 Limitations on claims and attribution
- Limitations on claims
- 236 Loans: no claim after disposal or excessive repayments or receipts of value
- 237 Securities or shares: no claim after disposal or excessive receipts of value
- 238 No claim after loss of accreditation by the CDFI
- 239 Accreditation of investor
- Attribution
- 240 Attribution: general
- 241 Attribution: bonus shares
- Chapter 5 Withdrawal or reduction of CITR
- Introduction
- 242 Introduction to Chapter
- Disposals
- 243 Disposal of loan during 5 year period
- 244 Disposal of securities or shares during 5 year period
- Repayment of loans
- 245 Repayment of loan capital during 5 year period
- Receipts of value
- 246 Value received by investor during 6 year period: loans
- 247 Value received by investor during 6 year period: securities or shares
- 248 Receipts of insignificant value to be added together
- 249 When value is received
- 250 The amount of value received
- 251 Value received if there is more than one investment
- 252 Effect of receipt of value on future claims
- 253 Receipts of value by or from connected persons
- CITR not due
- 254 CITR subsequently found not to have been due
- Manner of withdrawal or reduction
- 255 Manner of withdrawal or reduction of CITR
- Chapter 6 Supplementary and general
- Alternative finance arrangements
- 256 Meaning of “loan” and “interest”
- 257 Purchase and resale arrangements
- 258 Deposit arrangements
- 259 Profit share agency arrangements
- Miscellaneous
- 260 Information to be provided by the investor
- 261 Disclosure
- 262 Nominees
- 263 Application for postponement of tax pending appeal
- 264 Identification of securities or shares on a disposal
- Definitions
- 265 Meaning of “issue of securities or shares”
- 266 Meaning of “disposal”
- 267 Construction of references to being “held continuously”
- 268 Meaning of “associate”
- 269 Minor definitions etc
- PART 7ZA Restrictions on obtaining certain deductions
- Introduction
- 269ZA Overview of Part
- Restrictions on obtaining certain deductions
- 269ZB Restriction on deductions from trading profits
- 269ZBA Restriction on deductions from chargeable gains
- 269ZC Restriction on deductions from non-trading profits
- 269ZD Restriction on deductions from total profits
- 269ZDA References to a company’s “deductions allowance”
- 269ZE Restriction on deductions from total profits: insurance companies
- Relevant profits
- 269ZF “Relevant trading profits”, “total relevant non-trading profits” etc
- 269ZFA “Relevant profits”
- Modifications for certain insurance companies
- 269ZFB Modifications for certain insurance companies
- 269ZFC Restriction on deductions of non-BLAGAB allowable losses from BLAGAB chargeable gains
- Exclusion for certain general insurance companies
- 269ZG General insurance companies: excluded accounting periods
- 269ZH “Insolvency procedures”
- 269ZI “Qualifying latent claims”
- 269ZJ Exclusion of shock losses from restrictions
- 269ZK Meaning of “shock loss”: requirement to make a claim
- 269ZL Further provision about claims under section 269ZK
- 269ZM Meaning of “solvency shock period”
- 269ZN Determination of shock loss threshold
- 269ZO Calculation of solvency loss
- 269ZP Interpretation of sections 269ZJ to 269ZO
- 269ZQ Power to amend
- Deductions allowance
- 269ZR Deductions allowance for company in a group
- 269ZS Group deductions allowance and the nominated company
- 269ZSA Group allowance nomination: former groups
- 269ZT Group allowance allocation statement: submission
- 269ZU Group allowance allocation statement: submission of revised statement
- 269ZV Group allowance allocation statement: requirements and effects
- 269ZVA Group allowance allocation statement: former groups
- 269ZW Deductions allowance for company not in a group
- 269ZWA Increase of deductions allowance for insolvent companies
- 269ZX Increase of deductions allowance in connection with onerous or impaired leases
- 269ZY Meaning of “relevant reversal credit”
- 269ZYZA Other relevant credits
- 269ZYA Deductions allowance for company without a source of chargeable income
- 269ZYB Provisional application of section 269ZYA
- 269ZZ Company tax return to specify amount of deductions allowance
- 269ZZA Excessive specifications of deductions allowance
- 269ZZB Meaning of “group”
- PART 7A Banking companies
- CHAPTER 1 Introduction
- 269A Overview of Part
- CHAPTER 2 Key definitions
- “Banking company”
- 269B Meaning of “banking company”
- 269BA Excluded entities
- 269BB Relevant regulated activities
- 269BC Banking companies: supplementary definitions
- “Group”
- 269BD Meaning of “group”
- Powers to amend
- 269BE Powers to amend
- CHAPTER 3 Restrictions on obtaining certain deductions
- Introduction
- 269C Overview of Chapter
- Restrictions on obtaining certain deductions
- 269CA Restriction on deductions for trading losses
- 269CB Restriction on deductions for non-trading deficits from loan relationships
- 269CC Restriction on deductions for management expenses etc
- 269CD Relevant profits
- Losses to which restrictions do not apply
- 269CE Losses arising before company began banking activity
- 269CF Losses arising in company's start-up period
- 269CG The “start-up period”
- 269CH Losses covered by carried-forward loss allowance
- 269CI Allocation of carried-forward loss allowance within a group
- 269CJ Re-allocation of carried-forward loss allowance
- Anti-avoidance
- 269CK Profits arising from tax arrangements to be disregarded
- Supplementary
- 269CL When a company first begins to carry on relevant regulated activities
- 269CM Joint venture companies
- 269CN Other definitions
- CHAPTER 4 Surcharge on banking companies
- Overview
- 269D Overview of Chapter
- The surcharge
- 269DA Surcharge on banking companies
- Non-banking group relief
- 269DB Meaning of “non-banking group relief”
- 269DBA Meaning of “non-banking group relief for carried-forward losses”
- Non-banking or pre-2016 loss relief
- 269DC Meaning of “non-banking or pre-2016 loss relief”
- 269DCA Meaning of “non-banking transferred-in loss relief”
- 269DD Meaning of “relevant transferred-out gain” and “non-banking transferred-in gain”
- The surcharge allowance
- 269DE Surcharge allowance for banking company in a group containing other banking companies
- 269DF Group surcharge allowance and the nominated company
- 269DG Group allowance allocation statement: submission
- 269DH Group allowance allocation statement: submission of revised statement
- 269DI Group allowance allocation statement: requirements and effect
- 269DJ Surcharge allowance for company not in a group containing other banking companies
- 269DK Excessive specifications of available surcharge allowance
- Application of Corporation Tax Acts: administration, double taxation etc
- 269DL Application of enactments applying to corporation tax: assessment, recovery, double taxation etc
- 269DM Payments in respect of the surcharge: information to be provided
- Anti-avoidance
- 269DN Profit and loss shifting to avoid or reduce surcharge liability
- Interpretation
- 269DO Interpretation
- Part 8 Oil activities
- Chapter 1 Introduction
- 270 Overview of Part
- Chapter 2 Basic definitions
- 271 “Associated companies”
- 272 “Oil extraction activities”
- 273 “Oil rights”
- 274 “Oil-related activities”
- 275 “Ring fence income”
- 276 “Ring fence profits”
- 277 “Ring fence trade”
- 278 Other definitions
- Chapter 3 Deemed separate trade
- 279 Oil-related activities treated as separate trade
- CHAPTER 3A Rates at which corporation tax is charged on ring fence profits
- The rates
- 279A Corporation tax rates on ring fence profits
- Marginal relief
- 279B Company with only ring fence profits
- 279C Company with ring fence profits and other profits
- 279D The ring fence amount
- 279DA The remaining amount
- The lower limit and the upper limit
- 279E The lower limit and the upper limit
- Supplementary
- 279EA Interpretation etc
- Related 51% group companies
- 279F “Related 51% group company”
- Augmented profits
- 279G “Augmented profits”
- 279H Interpretation of section 279G(3) and (4)
- Chapter 4 Calculation of profits
- Oil valuation
- 280 Disposal to be valued by reference to section 2(5A) of OTA 1975
- 281 Valuation where market value taken into account under section 2 of OTA 1975
- 282 Valuation where disposal not sale at arm's length
- 283 Valuation where excess of nominated proceeds
- 284 Valuation where relevant appropriation but no disposal
- 285 Valuation where appropriation to refining etc
- Hire of relevant assets
- 285A Restriction on hire etc of relevant assets to be brought into account
- Loan relationships
- 286 Restriction on debits to be brought into account
- 287 Restriction on credits to be brought into account
- 287A Restriction where debits or credits relate to decommissioning security settlement
- Sale and lease-back
- 288 Sale and lease-back
- Regional development grants
- 289 Reduction of expenditure by reference to regional development grant
- 290 Adjustment as a result of regional development grant
- Tariff receipts etc
- 291 Tariff receipts etc
- 291A Meaning of “tariff receipt”
- 291B Tariff receipts: counteraction of avoidance arrangements
- Abandonment guarantees
- 292 Expenditure on abandonment guarantees
- 293 Relief for reimbursement expenditure under abandonment guarantees
- 294 Payment under abandonment guarantee not immediately applied
- 295 Amounts excluded from section 293(1)
- Abandonment expenditure
- 296 Introduction to section 297
- 297 Relief for expenditure incurred by a participator in meeting defaulter's abandonment expenditure
- 298 Reimbursement by defaulter in respect of certain abandonment expenditure
- Receipts arising from decommissioning
- 298A Receipts arising from decommissioning
- Deduction of PRT in calculating income for corporation tax purposes
- 299 Deduction of PRT in calculating income for corporation tax purposes
- 300 Effect of repayment of PRT: general rule
- 301 Effect of repayment of PRT: special rule
- Interest on repayment of PRT or APRT
- 302 Interest on repayment of PRT or APRT
- Relief
- 303 Management expenses
- 303A Introduction to sections 303B to 303D: post-1 April 2017 non-decommissioning losses of ring fence trades
- 303B Carry forward of losses against subsequent profits
- 303C Excess carried forward losses: relief against total profits
- 303D Further carry forward against subsequent profits of loss not fully used
- 304 Losses
- 305 Group relief and group relief for carried-forward losses
- 306 Capital allowances
- Chapter 5 Ring fence expenditure supplement
- Introduction
- 307 Overview of Chapter
- Application and interpretation
- 308 Qualifying companies
- 309 Accounting periods
- 310 The relevant percentage
- 311 Limit on number etc of accounting periods for which supplement may be claimed
- 312 Qualifying pre-commencement expenditure
- 313 Unrelieved group ring fence profits for accounting periods
- 314 Taxable ring fence profits for an accounting period
- Pre-commencement supplement
- 315 Supplement in respect of a pre-commencement accounting period
- 316 The mixed pool of qualifying pre-commencement expenditure and supplement previously allowed
- 317 Reduction in respect of disposal receipts under CAA 2001
- 318 Reduction in respect of unrelieved group ring fence profits
- 318A Adjustment of pool to remove pre-2013 expenditure after the initial 6 periods
- 319 The reference amount for a pre-commencement period
- 320 Claims for pre-commencement supplement
- Post-commencement supplement
- 321 Supplement in respect of a post-commencement period
- 322 Amount of post-commencement supplement for a post-commencement period
- 323 Ring fence losses
- 324 Special rule for straddling periods
- 325 The pool of ring fence losses and the pool of non-qualifying Schedule 19B losses
- 326 The ring fence pool
- 327 Reductions in respect of relief for carried-forward ring fence losses
- 328 Reductions in respect of unrelieved group ring fence profits
- 328A Adjustment of pool to remove pre-2013 losses after the initial 6 periods
- 329 The reference amount for a post-commencement period
- CHAPTER 5A Extended ring fence expenditure supplement for onshore activities
- Introduction
- 329A Overview of Chapter
- Application and interpretation
- 329B Qualifying companies
- 329C Onshore and offshore oil-related activities
- 329D Accounting periods and straddling periods
- 329E The relevant percentage
- 329F Restrictions on accounting periods for which additional supplement may be claimed
- 329G Qualifying pre-commencement onshore expenditure
- 329H Unrelieved group ring fence profits
- Pre-commencement additional supplement
- 329I Additional supplement in respect of a pre-commencement accounting period
- 329J The mixed pool of qualifying pre-commencement onshore expenditure and supplement previously allowed
- 329K Reduction in respect of disposal receipts under CAA 2001
- 329L Reduction in respect of unrelieved group ring fence profits
- 329M The reference amount for a pre-commencement period
- Post-commencement additional supplement
- 329N Supplement in respect of post-commencement period
- 329O Amount of post-commencement additional supplement for a post-commencement period
- 329P Onshore ring fence losses
- 329Q The onshore ring fence pool
- 329R Reductions in respect of utilised onshore ring fence losses
- 329S Reductions in respect of unrelieved group ring fence profits
- 329T The reference amount for a post-commencement period
- Chapter 6 Supplementary charge in respect of ring fence trades
- 330 Supplementary charge in respect of ring fence trades
- 330ZA Ordering of allowances
- 330A Decommissioning expenditure taken into account in calculating ring fence profits
- 330B Decommissioning expenditure taken into account for PRT purposes
- 330C Meaning of “decommissioning expenditure”
- 331 Meaning of “financing costs” etc
- 332 Assessment, recovery and postponement of supplementary charge
- CHAPTER 6A Supplementary charge: investment allowance
- Introduction
- 332A Overview
- “Qualifying oil field” and “investment expenditure”
- 332B Meaning of “qualifying oil field”
- 332BA Meaning of “investment expenditure”
- Investment allowance
- 332C Generation of investment allowance
- 332CA Expenditure incurred before field is determined
- Restrictions on relievable expenditure
- 332D Expenditure on acquisition of asset: disqualifying conditions
- 332DA Restriction where field qualified for field allowance as new field
- 332DB Restriction where project in additionally-developed field qualified for field allowance
- 332DC Restriction relating to fields qualifying for onshore allowance
- Reduction of adjusted ring fence profits
- 332E Reduction of adjusted ring fence profits
- 332EA Carrying forward of activated allowance
- Activated and unactivated allowance: basic calculation rules
- 332F Activation of allowance: no change of equity share
- 332FA The closing balance of unactivated allowance for an accounting period
- 332FB Activation limit for former additionally-developed fields
- 332FC Carrying forward of unactivated allowance
- Changes in equity share: reference periods
- 332G Reference periods
- Changes in equity share: activation of allowance
- 332H Activation of allowance: reference periods
- 332HA Unactivated amounts attributable to a reference period
- 332HB Carry-forward of unactivated allowance from a reference period
- Transfers of allowance on disposal of equity share
- 332I Introduction to sections 332IA and 332IB
- 332IA Reduction of allowance if equity is disposed of
- 332IB Acquisition of allowance if equity acquired
- Miscellaneous
- 332J Adjustments
- 332JA Regulations amending specified percentages
- Interpretation
- 332K When expenditure is incurred
- 332KA Other definitions
- Chapter 7 REDUCTION OF SUPPLEMENTARY CHARGE FOR ELIGIBLE OIL FIELDS
- Reduction of adjusted ring fence profits
- 333 Reduction of adjusted ring fence profits
- Pool of field allowances
- 334 Company's pool of field allowances
- 335 Carrying part of pool of field allowances into following period
- 336 Carrying whole of pool of field allowances into following period
- Field allowance: when held and unactivated amount
- 337 Licensee to hold field allowance
- 338 Holding a field allowance on acquisition of equity share
- 339 Unactivated amount of field allowance
- No change in equity share: activation of allowance
- 340 Introduction to section 341
- 341 Activation of field allowance
- Change in equity share: activation of allowance
- 342 Introduction to sections 343 and 344
- 343 Reference periods
- 344 Activation of field allowance
- Change in equity share: transfer of field allowance
- 345 Introduction to sections 346 and 347
- 346 Reduction of field allowance if equity disposed of
- 347 Acquisition of field allowance if equity acquired
- Miscellaneous
- 348 Adjustments
- 349 Orders
- Interpretation
- 349A “Additionally-developed oil field”
- 350 “New oil field”
- 351 “Authorisation of development of an oil field”
- 352 “Qualifying oil field”
- 353 “Small oil field”
- 354 “Ultra heavy oil field”
- 355 “Ultra high pressure/high temperature oil field”
- 355A “Large deep water oil field”
- 355B “Large shallow water gas field”
- 355C “Deep water gas field”
- 356 “Total field allowance for a new oil field”
- 356A “Total field allowance for an additionally-developed oil field”
- 356AA Other definitions
- 357 Other definitions
- CHAPTER 8 Supplementary charge: onshore allowance
- Introduction
- 356B Overview
- 356BA “Onshore oil-related activities”
- 356BB The activities
- 356BC “Site”
- Onshore allowance
- 356C Generation of onshore allowance
- 356CA Disqualifying conditions for section 356C(4)(b)
- 356CAA Expenditure on acquisition of asset: further disqualifying conditions
- 356CB Expenditure not related to an established site
- Reduction of adjusted ring fence profits
- 356D Reduction of adjusted ring fence profits
- 356DA Carrying forward of activated allowance
- 356DB Companies with both field allowances and onshore allowance
- Activated and unactivated allowance: basic calculation rules
- 356E Activation of allowance: no change of equity share
- 356EA The closing balance of unactivated allowance for an accounting period
- 356EB Carrying forward of unactivated allowance
- Transfer of allowances between sites
- 356F Transfer of allowances between sites
- Changes in equity share: activation of allowance
- 356G Introduction to sections 356GA to 356GD
- 356GA Reference periods
- 356GB Activation of allowance: reference periods
- 356GC Carry-forward of unactivated allowance from a reference period
- 356GD Unactivated amounts attributable to a reference period
- Transfers of allowance on disposal of equity share
- 356H Introduction to sections 356HA and 356HB
- 356HA Reduction of allowance if equity disposed of
- 356HB Acquisition of allowance if equity acquired
- Miscellaneous
- 356I Adjustments
- 356IA Orders
- Interpretation
- 356IB “Authorisation of development”: oil fields
- 356J “Authorisation of development”: drilling and extraction sites
- 356JA When capital expenditure is incurred
- 356JB Other definitions
- CHAPTER 9 Supplementary charge: cluster area allowance
- Introduction
- 356JC Overview
- Determination of cluster areas
- 356JD Meaning of “cluster area”
- 356JDA Meaning of “previously authorised oil field”
- Meaning of “investment expenditure”
- 356JE Meaning of “investment expenditure”
- Cluster area allowance
- 356JF Generation of cluster area allowance
- 356JFA Expenditure on acquisition of asset: disqualifying conditions
- Reduction of adjusted ring fence profits
- 356JG Reduction of adjusted ring fence profits
- 356JGA Carrying forward of activated allowance
- Activated and unactivated allowance: basic calculation rules
- 356JH Activation of allowance: no change of equity share
- 356JHA The closing balance of unactivated allowance for an accounting period
- 356JHB Carrying forward of unactivated allowance
- Changes in equity share: reference periods
- 356JI Reference periods
- Changes in equity share: activation of allowance
- 356JJ Activation of allowance: reference periods
- 356JJA Unactivated amounts attributable to a reference period
- 356JJB Carry-forward of unactivated allowance from a reference period
- Transfers of allowance on disposal of equity share
- 356JK Disposal of equity share: transfer of allowance
- 356JKA More than one disposal on a single day
- 356JKB Effect of transfer of allowance for transferee
- Use of allowance attributable to unlicensed area
- 356JL Use of allowance attributable to unlicensed area
- Miscellaneous
- 356JM Adjustments
- 356JMA Regulations amending percentage in section 356JF(2)
- Interpretation
- 356JN When capital expenditure is incurred
- 356JNA Licensed sub-areas
- 356JNB Other definitions
- PART 8ZA Oil contractors
- CHAPTER 1 Introduction
- 356K Overview of Part
- CHAPTER 2 Basic definitions
- 356L “Oil contractor activities” etc
- 356LA “Relevant asset”
- 356LB “Associated person”
- 356LC “Lease”
- 356LD “Contractor's ring fence profits”
- CHAPTER 3 Deemed separate trade
- 356M Oil contractor activities treated as separate trade
- CHAPTER 4 Calculation of profits
- Hire of relevant assets
- 356N Restriction on hire etc of relevant assets to be brought into account
- 356NA Restriction on hire: further provision
- Loan relationships
- 356NB Restriction on debits to be brought into account
- 356NC Restriction on credits to be brought into account
- Relief
- 356ND Management expenses
- 356NE Losses
- 356NF Group relief and group relief for carried-forward losses
- 356NG Capital allowances
- Restriction on obtaining certain deductions
- 356NH Restriction on deductions from contractor's ring fence profits
- 356NI Deductions allowances where company has contractor's ring fence profits
- 356NJ Modification of provisions restricting the use of losses
- PART 8ZB Transactions in UK land
- Introduction
- 356OA Overview of Part
- Amounts treated as profits of a trade
- 356OB Disposals of land in the United Kingdom
- 356OC Disposals of land: profits treated as trading profits
- 356OD Disposals of property deriving its value from land in the United Kingdom
- 356OE Disposals within section 356OD: profits treated as trading profits
- 356OF Profits and losses
- Person to whom profits attributed
- 356OG The chargeable company
- Anti-fragmentation
- 356OH Fragmented activities
- Calculation of profit or gain on disposal
- 356OI Calculation of profit or gain on disposal
- 356OJ Apportionments
- Arrangements for avoiding tax
- 356OK Arrangements for avoiding tax
- Exemption
- 356OL Profits attributable to period before relevant activities etc began
- Other supplementary provisions
- 356OM Tracing value
- 356ON Relevance of transactions, arrangements, etc
- Interpretation
- 356OO “Another person”
- 356OP “Arrangement”
- 356OQ “Disposal”
- 356OR “Land” and related expressions
- 356OS References to realising a gain
- 356OT Related parties
- PART 8A Profits arising from the exploitation of patents etc
- CHAPTER 1 Reduced corporation tax rate for profits from patents etc
- 357A Election for special treatment of profits from patents etc
- CHAPTER 2 Qualifying companies
- 357B Meaning of “qualifying company”
- 357BA Meaning of “exclusive licence”
- 357BB Rights to which this Part applies
- 357BBA. Rights to which this Part applies: EU rights
- 357BC The development condition
- 357BD Meaning of “qualifying development”
- 357BE The active ownership condition
- CHAPTER 2A Relevant IP profits: cases mentioned in section 357A(6)
- Steps for calculating relevant IP profits of a trade
- 357BF Relevant IP profits
- Finance income
- 357BG Finance income
- Relevant IP income
- 357BH Relevant IP income
- 357BHA Notional royalty
- 357BHB Excluded income
- 357BHC Mixed sources of income
- Excluded debits etc
- 357BI Excluded debits
- 357BIA Certain amounts not to be deducted from sub-streams at Step 4 of section 357BF
- Routine return figure
- 357BJ Routine return figure
- 357BJA Routine deductions
- 357BJB Deductions that are not routine deductions
- Marketing assets return figure
- 357BK Marketing assets return figure
- 357BKA Notional marketing royalty
- 357BKB Actual marketing royalty
- R&D fraction
- 357BL Introduction
- 357BLA The R&D fraction
- 357BLB Qualifying expenditure on relevant R&D undertaken in-house
- 357BLC Qualifying expenditure on relevant R&D sub-contracted to unconnected persons
- 357BLD Qualifying expenditure on relevant R&D sub-contracted to connected persons
- 357BLE Qualifying expenditure on acquisition of relevant qualifying IP rights
- 357BLEA Cases where the company is a party to a CSA
- 357BLF Meaning of the “relevant period” etc
- 357BLG Cases where the company is a new entrant with insufficient information about pre-enactment expenditure
- 357BLH R&D fraction: increase for exceptional circumstances
- Profits arising before grant of right
- 357BM Profits arising before grant of right
- Small claims treatment
- 357BN Small claims treatment
- 357BNA Notional royalty election
- 357BNB Small claims figure election
- 357BNC Global streaming election
- CHAPTER 2B Relevant IP profits: cases mentioned in section 357A(7): income from new IP
- 357BO Relevant IP profits
- 357BP Meaning of “new qualifying IP right” and “old qualifying IP right”
- 357BQ The modifications
- CHAPTER 3 Relevant IP profits : cases mentioned in section 357A(7): no income from new IP
- Steps for calculating relevant IP profits of a trade
- 357C Relevant IP profits
- Total gross income of trade
- 357CA Total gross income of a trade
- 357CB Finance income
- Relevant IP income
- 357CC Relevant IP income
- 357CD Notional royalty
- 357CE Excluded income
- 357CF Mixed sources of income
- Calculating profits of trade
- 357CG Adjustments in calculating profits of trade
- 357CH Shortfall in R&D expenditure
- 357CHA Shortfall in qualifying expenditure
- Routine return figure
- 357CI Routine return figure
- 357CJ Routine deductions
- 357CK Deductions that are not routine deductions
- Election for small claims treatment
- 357CL Companies eligible to elect for small claims treatment
- 357CM Small claims amount
- Marketing assets return figure
- 357CN Marketing assets return figure
- 357CO Notional marketing royalty
- 357CP Actual marketing royalty
- Profits arising before grant of right
- 357CQ Profits arising before grant of right
- CHAPTER 4 Streaming
- 357D Alternative method of calculating relevant IP profits: “streaming”
- 357DA Relevant IP profits
- 357DB Method of allocation
- 357DC The mandatory streaming conditions
- CHAPTER 5 Relevant IP losses
- 357E Company with relevant IP losses: set-off amount
- 357EA Effect of set-off amount on company with more than one trade
- 357EB Allocation of set-off amount within a group
- 357EC Carry-forward of set-off amount
- 357ED Company ceasing to carry on trade, etc
- 357EE Transfer of a trade between group members
- 357EF Payments between group members in consequence of section 357EB
- CHAPTER 6 Anti-avoidance
- Licences conferring exclusive rights
- 357F Licences conferring exclusive rights
- Incorporation of qualifying items
- 357FA Incorporation of qualifying items
- Tax advantage schemes
- 357FB Tax advantage schemes
- CHAPTER 7 Supplementary
- Elections under section 357A
- 357G Making of election under section 357A(1) or (11)(b)
- 357GA Revocation of election made under section 357A(1)
- Partnerships
- 357GB Application of this Part in relation to partnerships
- Cost-sharing arrangements
- 357GC Meaning of “cost-sharing arrangement
- 357GCZA Qualifying IP right held by another party to CSA
- 357GCZB Exclusive licence held by another party to CSA
- 357GCZC R&D undertaken or contracted out by another party to CSA
- 357GCZD Acquisition of qualifying IP rights etc by another party to CSA
- 357GCZE Treatment of expenditure in connection with formation of CSA etc
- 357GCZF Treatment of income in connection with formation of CSA etc
- Transferred trades
- 357GCA Application of this Part in relation to transferred trades
- Interpretation
- 357GD Meaning of “group”
- 357GE Other interpretation
- PART 8B Trading profits taxable at the Northern Ireland rate
- CHAPTER 1 Introductory
- 357H Introduction
- CHAPTER 2 The Northern Ireland rate
- 357I The Northern Ireland rate
- 357IA Power of Northern Ireland Assembly to set Northern Ireland rate
- CHAPTER 3 Northern Ireland rate applied to Northern Ireland profits and losses
- Introductory
- 357J Introductory
- Profits chargeable to corporation tax and rates
- 357JA Profits chargeable to corporation tax and rates
- Loss relief in relation to Northern Ireland profits and losses: Chapter 2 of Part 4
- 357JB Availability of relief
- 357JC Restriction on deductions
- Loss relief in relation to Northern Ireland profits and losses: section 45
- 357JD Availability of relief
- 357JE Restriction on deductions
- Loss relief in relation to Northern Ireland profits and losses: Part 5
- 357JF Availability of relief
- 357JG Restriction on deductions
- 357JH Modifications of Chapter 4 of Part 5
- Loss relief in relation to Northern Ireland profits and losses: Part 5A
- 357JHA Availability of relief
- 357JHB Restriction on deductions
- 357JHC Modifications of Chapter 4 of Part 5A
- 357JHD Modifications of Chapter 5 of Part 5A
- Transfers of trade without a change of ownership: Chapter 1 of Part 22
- 357JI Transfers of trade without a change of ownership
- Restricted deductions
- 357JJ Restricted deduction: Northern Ireland rate lower than main rate
- CHAPTER 4 Basic definitions
- Application of Chapter
- 357K Application of Chapter
- Meaning of “Northern Ireland company”
- 357KA “Northern Ireland company”
- Meaning of “qualifying trade”
- 357KB “Qualifying trade”
- Meaning of “SME”
- 357KC “SME”
- Meaning of “Northern Ireland employer”
- 357KD “Northern Ireland employer”
- 357KE Northern Ireland workforce conditions
- Meaning of “disqualified close company”
- 357KEA “Disqualified close company”
- CHAPTER 5 Northern Ireland regional establishments
- General
- 357L Northern Ireland regional establishments of companies
- Circumstances where there is no NIRE
- 357LA Agent of independent status
- 357LB Alternative finance arrangements
- Brokers
- 357LC The independent broker condition
- Investment managers
- 357LD The independent investment manager conditions
- 357LE Investment managers: the 20% rule
- 357LF Section 357LE: interpretation
- 357LG Application of 20% rule to collective investment schemes
- 357LH Meaning of “investment manager” and “investment transaction”
- Lloyd's agents
- 357LI Lloyd's agents
- Supplementary
- 357LJ Investment managers: disregard of certain chargeable profits
- 357LK Miscellaneous
- CHAPTER 6 Northern Ireland profits and losses etc: SMEs that are Northern Ireland employers
- 357M Introductory
- 357MA Northern Ireland profits or losses and mainstream profits or losses
- 357MB Profit imputed to back-office activities
- CHAPTER 7 Northern Ireland profits and losses etc: SMEs that are not Northern Ireland employers and large companies
- Introductory
- 357N Introductory
- Northern Ireland profits or losses and mainstream profits or losses
- 357NA Northern Ireland profits or losses and mainstream profits or losses
- 357NB Profit imputed to Northern Ireland back-office activities
- The separate enterprise principle
- 357NC The separate enterprise principle
- 357ND Transactions treated as being on arm's length terms
- 357NE Provision of goods or services for NIRE
- Rules about deductions and receipts
- 357NF Allowable deductions
- 357NG Deductions attributable to the NIRE for costs
- 357NH Payments and receipts in respect of intangible assets
- 357NI Interest or other financing costs and receipts
- Supplementary
- 357NJ Losses
- 357NK Trade includes office
- CHAPTER 8 Intangible fixed assets
- Introductory
- 357O Introductory
- Calculating Northern Ireland profits or Northern Ireland losses
- 357OA Rules affecting calculation of Northern Ireland profits or losses
- Northern Ireland intangibles credits and Northern Ireland intangibles debits
- 357OB Northern Ireland intangibles credits and debits: SMEs that are Northern Ireland employers
- 357OC Northern Ireland intangibles credits and debits: SMEs that are not Northern Ireland employers and large companies
- Realisation credits and realisation debits
- 357OD “Realisation credit” and “realisation debit”
- 357OE The Northern Ireland element of a realisation credit or debit
- 357OF Northern Ireland element: general rule
- 357OG Northern Ireland element: credits where roll-over relief involved
- Pre-commencement assets
- 357OH Pre-commencement asset
- 357OI Goodwill
- 357OJ Assets representing production expenditure on films
- 357OK Fungible assets
- 357OL Realisation and acquisition of fungible assets
- Assets treated as pre-commencement assets
- 357OM Assets whose value derives from pre-commencement assets
- 357ON The pre-commencement status conditions
- 357OO Assets acquired in connection with disposals of pre-commencement assets
- Interpretation
- 357OP Interpretation of Chapter
- CHAPTER 9 Research and development expenditure
- Introductory
- 357P Introduction and interpretation
- Chapter 1A of Part 13 of CTA 2009
- 357PA R&D expenditure credit ...
- Chapter 2 of Part 13 of CTA 2009
- 357PB Additional deduction under section 1044 of CTA 2009
- 357PC Tax credit under section 1054 of CTA 2009: entitlement
- 357PD Tax credit under section 1054 of CTA 2009: amount of tax credit
- 357PE Restriction on losses carried forward where tax credit claimed
- Chapter 7 of Part 13 of CTA 2009
- 357PF Additional deduction under section 1087 of CTA 2009
- CHAPTER 10 Remediation of contaminated or derelict land
- Introductory
- 357Q Introduction and interpretation
- Additional deduction under section 1149 of CTA 2009
- 357QA Additional deduction
- Tax credit under section 1151 of CTA 2009
- 357QB Tax credit: entitlement
- 357QC Tax credit: amount of tax credit
- 357QD Restriction on losses carried forward where tax credit claimed
- Chapter 10A Films, television programmes and video games qualifying for expenditure credit
- Introduction
- 357QE Application and interpretation
- Expenditure credit
- 357QF Expenditure credit to count towards mainstream profits or losses
- Losses of separate trade
- 357QG Carrying forward of production losses
- 357QH Transfer of terminal loss
- CHAPTER 11 Film tax relief
- Introductory
- 357R Introduction and interpretation
- Film tax relief
- 357RA Northern Ireland additional deduction
- 357RB Northern Ireland supplementary deduction
- 357RC Northern Ireland supplementary deduction: amount
- 357RD Film tax credit: Northern Ireland supplementary deduction ignored
- 357RE Artificially inflated claims for additional deduction
- Film losses
- 357RF Restriction on use of losses while film is in production
- 357RG Use of losses in later periods
- 357RH Terminal losses
- CHAPTER 12 Television production
- Introductory
- 357S Introduction and interpretation
- Television tax relief
- 357SA Northern Ireland additional deduction
- 357SB Northern Ireland supplementary deduction
- 357SC Northern Ireland supplementary deduction: amount
- 357SD Tax credit: Northern Ireland supplementary deduction ignored
- 357SE Artificially inflated claims for additional deduction
- Programme losses
- 357SF Restriction on use of losses while programme in production
- 357SG Use of losses in later periods
- 357SH Terminal losses
- CHAPTER 13 Video games development
- Introductory
- 357T Introduction and interpretation
- Video games tax relief
- 357TA Northern Ireland additional deduction
- 357TB Northern Ireland supplementary deduction
- 357TC Northern Ireland supplementary deduction: amount
- 357TD Tax credit: Northern Ireland supplementary deduction ignored
- 357TE Artificially inflated claims for additional deduction
- Video game losses
- 357TF Restriction on use of losses while video game in development
- 357TG Use of losses in later periods
- 357TH Terminal losses
- CHAPTER 14 Theatrical productions
- Introductory
- 357U Introduction and interpretation
- Tax relief for theatrical productions
- 357UA Northern Ireland additional deduction
- 357UB Northern Ireland supplementary deduction
- 357UC Northern Ireland supplementary deduction: amount
- 357UD Tax credit: Northern Ireland supplementary deduction ignored
- 357UE Transactions not entered into for genuine commercial reasons
- Use of losses
- 357UF Restriction on use of losses before completion period
- 357UG Use of losses in the completion period
- 357UH Terminal losses
- Provisional entitlement to relief
- 357UI Provisional entitlement to relief
- CHAPTER 14A Orchestra tax relief
- Introductory
- 357UJ Introduction and interpretation
- Orchestra tax relief
- 357UK Northern Ireland additional deduction
- 357UL Northern Ireland supplementary deduction
- 357UM Northern Ireland supplementary deduction: amount
- 357UN Orchestra tax credit: Northern Ireland supplementary deduction ignored
- Losses of separate orchestral trade
- 357UO Restriction on use of losses before completion period
- 357UP Use of losses in the completion period
- 357UQ Terminal losses
- CHAPTER 14B Museums and galleries exhibition tax relief
- Introductory
- 357UR Introduction and interpretation
- Museums and galleries exhibition tax relief
- 357US Northern Ireland additional deduction
- 357UT Northern Ireland supplementary deduction
- 357UU Northern Ireland supplementary deduction: amount
- 357UV Museums and galleries exhibition tax credit: Northern Ireland supplementary deduction ignored
- Losses of separate exhibition trade
- 357UW Restriction on use of losses before completion period
- 357UX Use of losses in the completion period
- 357UY Terminal losses
- CHAPTER 15 Profits arising from the exploitation of patents etc
- Introductory
- 357V Introductory
- Modification of deduction
- 357VA Modification of section 357A
- “Relevant Northern Ireland IP profits”
- 357VB Relevant Northern Ireland IP profits: SMEs that are Northern Ireland employers
- 357VC Relevant Northern Ireland IP profits: SMEs that are not Northern Ireland employers and large companies
- Relevant IP losses
- 357VD Relevant IP losses
- Interpretation
- 357VE Interpretation of Chapter
- CHAPTER 16 Northern Ireland profits and losses etc: partnerships
- 357W Introductory
- 357WA Meaning of “Northern Ireland firm”
- 357WB Meaning of “qualifying partnership trade”
- 357WBA Northern Ireland workforce partnership conditions
- 357WBB Section 357WBA: supplementary
- 357WBC “Disqualified firm”
- 357WC Northern Ireland profits etc of firm determined under Chapter 6
- 357WD Northern Ireland profits etc of firm determined under Chapter 7
- 357WE Sections 357WC and 357WD: interpretation
- 357WF Application of section 747 of CTA 2009 to Northern Ireland firm
- 357WG Application of Part 8A to Northern Ireland firm
- 357WH Allocation of Northern Ireland profits etc of firm to company
- CHAPTER 17 Excluded trades, excluded activities and back-office activities
- Introductory
- 357X Introduction
- Excluded trades
- 357XA Oil activities
- 357XB Lending and investment
- 357XC Investment management
- 357XD Insurance: long-term business
- 357XE Re-insurance trade
- Excluded activities
- 357XF Re-insurance activity
- 357XG Exploration and exploitation of UK sector of continental shelf
- Powers
- 357XH Power to amend definition of “excluded trade” or “excluded activity”
- 357XI Power to make provision about meaning of “back-office activities”
- PART 8C Restitution interest
- CHAPTER 1 Amounts taxed as restitution interest
- 357YA Charge to corporation tax on restitution interest
- 357YB Restitution interest chargeable as income
- 357YC Meaning of “restitution interest”
- 357YD Further provision about amounts included, or not included, in “restitution interest”
- 357YDA Life insurance companies: amounts representing policyholder income
- Step 1
- Step 2
- Step 3
- Step 4
- Step 5
- Step 6
- 357YE Period in which amounts are to be brought into account
- 357YF Companies without GAAP-compliant accounts
- 357YG Restitution interest: appeals made out of time
- 357YH Countering effect of avoidance arrangements
- 357YI Interpretation of section 357YH
- 357YJ Examples of results that may indicate exclusion not applicable
- CHAPTER 2 Application of restitution payments rate
- 357YK Corporation tax rate on restitution interest
- 357YL Exclusion of reliefs, set-offs etc
- CHAPTER 3 Migration, transfers of rights etc
- 357YM Assignment of rights to person not chargeable to corporation tax
- 357YN Migration of company with claim to restitution interest
- 357YNA Transfer of rights: restitution interest arising after a winding up or dissolution
- 357YNB Meaning of “related company”
- CHAPTER 4 Payment and collection of tax on restitution interest
- 357YO Duty to deduct tax from payments of restitution interest
- 357YP Treatment of amounts deducted under section 357YO
- 357YQ Assessment of tax chargeable on restitution interest
- 357YR Interest on excessive amounts withheld
- 357YS Appeal against deduction
- 357YT Amounts taxed at restitution payments rate to be outside instalment payments regime
- CHAPTER 5 Supplementary provisions
- 357YU Interpretation
- 357YV Relationship of Part with other corporation tax provisions
- 357YW Power to amend
- Part 9 Leasing plant or machinery
- Chapter 1 Introduction
- 358 Introduction to Part
- Chapter 2 Long funding leases of plant or machinery
- Introduction
- 359 Overview of Chapter
- Lessors under long funding finance leases
- 360 Lessor under long funding finance lease: rental earnings
- 361 Lessor under long funding finance lease: exceptional items
- 362 Lessor under long funding finance lease making termination payment
- Lessors under long funding operating leases
- 363 Lessor under long funding operating lease: periodic deduction
- 364 “Starting value”: general
- 365 “Starting value” where plant or machinery originally unqualifying
- 366 Long funding operating lease: lessor's additional expenditure
- 367 Determination of remaining residual value resulting from lessor's first additional expenditure
- 368 Determination of remaining residual value resulting from lessor's further additional expenditure
- 369 Lessor under long funding operating lease: termination of lease
- Cases where sections 360 to 369 do not apply
- 370 Plant or machinery held as trading stock
- 371 Adjustments where sections 360 to 369 subsequently disapplied by section 370
- 372 Lessor also lessee under non-long funding lease
- 373 Other avoidance
- 374 Provision supplementing section 373
- 375 Adjustments where sections 360 to 369 subsequently disapplied by section 373
- 376 Films
- Lessees under long funding finance leases
- 377 Lessee under long funding finance lease: limit on deductions
- 377A Lessee under long funding finance leases: right-of-use leases
- 378 Lessee under long funding finance lease: termination
- Lessees under long funding operating leases
- 379 Lessee under long funding operating lease
- 380 “Starting value” in section 379
- Interpretation
- 381 Interpretation of Chapter
- Chapter 3 Sales of lessors: leasing business carried on by a company alone
- Introduction
- 382 Introduction to Chapter
- Income and matching expense in different accounting periods
- 383 Income and matching expense in different accounting periods
- 384 Amount of income and expense
- 385 No carry back of loss against the income
- 386 Relief for expense otherwise giving rise to carried forward loss
- “Business of leasing plant or machinery”
- 387 “Business of leasing plant or machinery”
- 388 “Relevant plant or machinery value” for condition A in section 387
- 389 Provision supplementing section 388
- 390 Relevant plant or machinery value where relevant company lessee under long funding lease etc
- 391 Relevant company's income for condition B in section 387
- “Relevant change in relationship”
- 392 “Relevant change in relationship”
- 393 Qualifying 75% subsidiaries
- 394 Consortium relationships
- 394ZA Company joining tonnage tax group
- “Qualifying change of ownership”
- 394A “Qualifying change of ownership”
- 395 No qualifying change of ownership in certain intra-group reorganisations
- 396 No qualifying change of ownership where principal company's interest in consortium company unchanged
- 397 Companies owned by consortiums and members of consortiums
- 398 “Qualifying 75% ... subsidiary” etc
- Election out of qualifying change of ownership
- 398A Election out of qualifying change of ownership
- 398B The election
- 398C Special treatment of A's trade or business that includes leasing
- 398D Restrictions on use of losses etc
- 398E Restriction on artificial losses or reductions in profits
- 398F Limit on availability of capital allowances to A
- 398G Transfers into and out of A
- The amount of the income
- 399 The amount of the income: the basic amount
- 400 “PM” in section 399
- 401 Provisions supplementing section 400
- 402 “PM” where relevant company lessee under long funding lease etc
- 403 “TWDV” in section 399
- 404 Amount to be nil if basic amount negative
- 405 Adjustment to the basic amount: qualifying 75% subsidiaries
- 406 Adjustment to the basic amount: consortium relationships
- 407 Migration
- “Associated company”
- 408 “Associated company”
- Chapter 4 Sales of lessors: leasing business carried on by a company in partnership
- Introduction
- 409 Introduction to Chapter
- “Business of leasing plant or machinery”
- 410 “Business of leasing plant or machinery”
- 411 “Relevant plant or machinery value” for condition A in section 410
- 412 Provision supplementing section 411
- 413 Relevant plant or machinery value where partnership lessee under long funding lease etc
- 414 Partnership's income for condition B in section 410
- “Qualifying change” in company's interest in a business
- 415 “Qualifying change” in company's interest in a business
- 416 Determining the percentage share in the profits or loss of business
- Qualifying changes in partner company's interest in business
- 417 Partner company's income and other companies' matching expense
- 418 Amount of income and expense
- 419 Relief for expense otherwise giving rise to carried forward loss
- 420 Exception: companies carrying on business ceasing to share in its profits
- 421 The amount of the income: the basic amount
- 422 Amount to be nil if basic amount negative
- 423 Adjustment to the basic amount
- 424 The amount of expense
- Qualifying changes of ownership in relation to partner company
- 425 Partner company's income and matching expense in different accounting periods
- 426 Amount of income and expense
- 427 No carry back of loss against the income
- 428 Relief for expense otherwise giving rise to carried forward loss
- 429 The amount of the income
- Interpretation
- 430 “Associated company”
- 431 “Profits” and “loss”
- Chapter 5 Sales of lessors: anti-avoidance provisions
- 432 Restrictions on relief for Chapter 3 or 4 expenses: introduction
- 433 Restrictions applying to the restricted loss amount
- 433A Restrictions not applying to the restricted loss amount
- 434 Introduction to sections 435 and 436
- 435 Disregard of increases and decreases in certain amounts
- 436 Balance sheet amounts determined on assumption company has no liabilities
- Chapter 6 Sales of lessors: general interpretation
- 437 Interpretation of the sales of lessors Chapters
- 437A Determining the ascribed value of plant or machinery
- 437B Section 437A: supplementary
- 437C Present value of a lease
- Part 10 Close companies
- Chapter 1 Overview of Part
- 438 Overview of Part
- Chapter 2 Basic definitions
- Meaning of “close company": general
- 439 “Close company”
- 440 Basis of winding up under section 439(3)
- 441 Treatment of some persons as participators or directors for the purposes of section 439(3)
- Companies which are not to be close companies
- 442 Particular types of company
- 443 Companies controlled by or on behalf of Crown
- 444 Companies involved with non-close companies
- 445 Section 444: registered pension schemes
- 446 Particular types of quoted company
- 447 Section 446: meaning of “shares beneficially held by the public” etc
- Meaning of other expressions in this Part
- 448 “Associate”
- 449 “Associated company”
- 450 “Control”
- 451 Section 450: rights to be attributed etc
- 452 “Director”
- 453 “Loan creditor”
- 454 “Participator”
- Chapter 3 Charge to tax in case of loan to participator
- Charge to tax in case of loan to participator
- 455 Charge to tax in case of loan to participator
- Exceptions to the charge to tax under section 455
- 456 Exceptions to the charge under section 455
- 457 Section 456: meaning of “material interest in a company”
- Relief in case of repayment or release of loan
- 458 Relief in case of repayment or release of loan
- Loan treated as made to participator
- 459 Loan treated as made to participator
- Loan treated as made by close company
- 460 Loan treated as made by close company
- 461 Exception to section 460
- 462 Determination of particular questions as a result of section 460
- Taxation of debtor on release of loan to trustees of settlement which has ended
- 463 Taxation of debtor on release of loan to trustees of settlement which has ended
- 464 Section 463: other person treated as releasing or writing off debt
- 464ZA Treatment of certain repayments
- 464ZB Section 464ZA: supplementary
- CHAPTER 3A Charge to tax: other arrangements
- 464A Charge to tax: arrangements conferring benefit on participator
- 464B Relief in case of return payment to company
- CHAPTER 3B Repayments and return payments
- 464C. Treatment of certain repayments and return payments
- 464D. Section 464C: supplementary
- Chapter 4 Power to obtain information
- 465 Power to obtain information
- Part 11 Charitable companies etc
- Chapter 1 Introduction
- 466 Overview of Part
- 467 Meaning of “charitable company”
- 468 Meaning of “eligible body”
- 469 Conditions for qualifying as a scientific research association
- 470 Meaning of “research and development” in section 469
- Chapter 2 Gifts and other payments
- Gifts and other payments to charitable companies
- 471 Gifts qualifying for gift aid relief: income tax treated as paid
- 472 Gifts qualifying for gift aid relief: corporation tax liability and exemption
- 472A Gifts under payroll deduction schemes: corporation tax liability and exemption
- 473 Gifts of money from companies: corporation tax liability and exemption
- 474 Payments from other charities: corporation tax liability and exemption
- 474A Legacies: corporation tax liability and exemption
- Gifts to eligible bodies
- 475 Gifts qualifying for gift aid relief: income tax treated as paid and exemption
- 476 Gifts of money from companies: exemption
- Gifts to scientific research associations
- 477 Gifts of money from companies: exemption
- Claims
- 477A Claims in relation to gift aid relief
- Chapter 3 Other exemptions
- Exemptions
- 478 Exemption for profits etc of charitable trades
- 479 Meaning of “charitable trade”
- 480 Exemption for profits of small-scale trades
- 481 Exemption from charges under provisions to which section 1173 applies
- 482 Condition as to trading and miscellaneous incoming resources
- 483 Exemption for profits from fund-raising events
- 484 Exemption for profits from lotteries
- 485 Exemption for property income etc
- 486 Exemption for investment income and non-trading profits from loan relationships
- 487 Exemption for public revenue dividends
- 488 Exemption for certain miscellaneous income
- 489 Exemption for income from estates in administration
- Application of exemptions to certain bodies
- 490 Eligible bodies
- 491 Scientific research associations
- Claims
- 491A Claims in relation to certain reliefs
- Chapter 4 Restrictions on exemptions
- Restrictions on exemptions
- 492 Restrictions on exemptions
- 493 The non-exempt amount
- 494 Attributing income to the non-exempt amount
- 495 How income is attributed to the non-exempt amount
- Non-charitable expenditure
- 496 Meaning of “non-charitable expenditure”
- 497 Section 496: supplementary
- 498 Section 496(1)(d): meaning of expenditure
- 499 Section 496(1)(d): accounting period in which certain expenditure treated as incurred
- 500 Section 496(1)(d): payment to body outside the UK
- 501 Section 496(1)(g) and (h): investments and loans
- Substantial donor transactions
- 502 Transactions with substantial donors
- 503 Meaning of “relievable gift”
- 504 Non-charitable expenditure in substantial donor transactions
- 505 Adjustment if section 504(1) and (2) applied to single transaction
- 506 Section 504: certain payments and benefits to be ignored
- 507 Transactions: exceptions
- 508 Donors: exceptions
- 509 Connected charities
- 510 Substantial donor transactions: supplementary
- Approved charitable investments and loans
- 511 Approved charitable investments
- 512 Securities which are approved charitable investments
- 513 Conditions to be met for some securities
- 514 Approved charitable loans
- Carry back of excess non-charitable expenditure
- 515 Excess expenditure treated as non-charitable expenditure of earlier periods
- 516 Rules for attributing excess expenditure to earlier periods
- 517 Adjustments in consequence of section 515
- Part 12 Real Estate Investment Trusts
- Chapter 1 Introduction
- Introductory
- 518 Introduction to Part
- Key concepts
- 519 “Property rental business”
- 520 “UK property rental business” of non-UK companies
- 521 “UK company” and “non-UK company”
- 522 “Residual business”
- Chapter 2 Requirements for being a UK REIT
- Becoming a UK REIT
- 523 Notice for a group of companies to become a UK REIT
- 524 Notice for a company to become a UK REIT
- 525 Notice under section 523 or 524: supplementary
- 526 Duration of status as UK REIT
- Being a UK REIT in relation to an accounting period
- 527 Being a UK REIT in relation to an accounting period
- 528 Conditions for company
- 528ZA Listing requirement: ownership by institutional investors
- 528ZB Genuine diversity of ownership condition
- 528A Further condition relating to shares
- 528B Relaxation of section 528A condition for accounting periods 1 to 3
- 529 Conditions as to property rental business
- 530 Condition as to distribution of profits
- 530A Condition as to distribution of profits: increase in profits after delivery of tax return
- 531 Conditions as to balance of business
- 532 Financial statements for group UK REITs
- 533 Financial statements: supplementary
- Chapter 3 Tax treatment of profits and gains of UK REITs
- 534 Profits
- 535 Gains
- 535A Gains: disposals of rights or interests in UK property rich companies
- 535B Section 535A: use of pre-April 2019 residual business losses or deficits
- Chapter 4 Entering the UK REIT regime
- 536 Effects of entry: corporation tax
- 537 Effects of entry: CAA 2001
- 538 Entry charge
- 539 Calculation of the notional amount
- 540 Election to treat notional income as arising in instalments
- Chapter 5 Assets etc
- Ring-fencing of property rental business
- 541 Ring-fencing of property rental business
- 542 Disapplication of certain provisions
- Profits: financing-cost ratio
- 543 Profit: financing-cost ratio
- 544 Meaning of “property profits” and “property financing costs”
- Cancellation of tax advantage
- 545 Cancellation of tax advantage
- 546 Appeal against notice under section 545
- Funds awaiting reinvestment
- 547 Funds awaiting reinvestment
- Chapter 6 Distributions
- Recipients of distributions
- 548 Distributions: liability to tax
- 549 Distributions: supplementary
- 549A Distributions from one UK REIT to another UK REIT
- Attribution of distributions
- 550 Attribution of distributions
- Distributions to certain shareholders
- 551 Tax consequences of distribution to holder of excessive rights
- 552 “The section 552 amount”
- 553 Meaning of “holder of excessive rights” and “excluded holder”
- 554 Regulations: distributions to holders of excessive rights
- 554A Meaning of “distribution”
- Chapter 7 Gains etc
- Movement of assets
- 555 Assets: change of use
- 556 Disposal of assets
- 557 Movement of assets into ring fence
- Demergers
- 558 Demergers: disposal of asset
- 559 Demergers: company leaving group UK REIT
- Interpretation
- 560 Interpretation of Chapter
- Chapter 8 Breach of conditions in Chapter 2
- 561 Notice of breach of relevant Chapter 2 condition
- 562 Breach of condition C in section 528 (conditions for company)
- 562A Breach of condition D in section 528 (conditions for company)
- 562B Breach of further condition relating to shares
- 562C Breach of further condition relating to shares in accounting periods 1, 2 and 3
- 563 Breach of property rental business condition
- 564 Breach of condition as to distribution of profits
- 565 “The section 565 amount”
- 566 Breach of condition B in section 531 in accounting period 1
- 567 Meaning of “the notional amount”
- 568 Breach of balance of business conditions after accounting period 1
- 569 Chapter subject to section 572
- Chapter 9 Leaving the UK REIT regime
- Introduction
- 570 Overview of Chapter
- Notice to leave regime
- 571 Termination by notice: group or company
- 572 Termination by notice: officer of Revenue and Customs
- 573 Notice under section 572: tax advantage
- 573A Notice under section 572: condition D in section 528 not met
- 573B Notice under section 572: further condition relating to shares not met
- 574 Notice under section 572: serious breach
- 575 Notice under section 572: breach of conditions as to property rental business
- 576 Notice under section 572: breach of conditions as to balance of business
- 577 Notice under section 572: multiple breaches of conditions in Chapter 2
- Automatic termination
- 578 Automatic termination for breach of certain conditions in section 528
- Effects of cessation
- 579 Effects of cessation: corporation tax
- 580 Effects of cessation: CAA 2001
- Early exit
- 581 Early exit by notice
- 582 Early exit
- Chapter 10 Joint ventures
- Introduction
- 583 Overview of Chapter
- 584 Meaning of “joint venture company” and “joint venture group”
- 585 Meaning of “venturing group” and “venturing company”
- Notice for Part to apply to joint venture
- 586 Notice for Part to apply: joint venture company
- 587 Notice for Part to apply: joint venture group
- Effect and duration of notice
- 588 Effect of notice under section 586
- 589 Effect of notice under section 587
- 590 Duration of notice under section 586 or 587
- Specific requirements and modifications
- 591 Conditions as to balance of business
- 592 Joint venture groups: financial statements
- 593 Financial statements under section 532: joint venture groups
- 594 Modifications of Chapter 3
- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 595 Joint venture company liable for additional charge
- 596 Member of joint venture group liable for additional charge
- 597 Cases where no additional charge due
- Supplementary
- 598 Chapter 10: supplementary
- Chapter 11 Part 12: supplementary
- Miscellaneous
- 599 Calculation of profits
- 599A Amount of distribution consisting of share capital issued in lieu of cash dividend
- 600 Power to make regulations about cases involving related persons
- 601 Availability of group reliefs
- 602 Effect of deemed disposal and reacquisition
- 603 Regulations
- Interpretation
- 604 Property rental business: exclusion of listed business
- 605 Property rental business: exclusion of business producing listed income
- 606 Groups
- 607 Meaning of “entry” and “cessation” etc
- 608 References to assets
- 609 Definitions
- Part 13 Other special types of company etc
- Chapter 1 Corporate beneficiaries under trusts
- Discretionary payments
- 610 Discretionary payments by trustees to companies
- Trustees' expenses
- 611 Income tax provisions to apply in relation to trustees' expenses
- Chapter 2 Authorised investment funds
- Introduction
- 612 Overview of Chapter
- Open-ended investment companies
- 613 Meaning of “open-ended investment company”
- 614 Applicable corporation tax rate
- 615 Umbrella companies
- Authorised unit trusts
- 616 Meaning of “authorised unit trust” and “unit holder”
- 617 Authorised unit trust treated as UK resident company
- 618 Applicable corporation tax rate
- 619 Umbrella schemes
- Court investment funds
- 620 Court investment funds
- Chapter 3 Unauthorised unit trusts
- 621 Treatment of income
- 622 Treatment of capital expenditure
- CHAPTER 3A Investment trusts
- 622A Power to make provision about treatment of transactions
- Chapter 4 Securitisation companies
- 623 Meaning of “securitisation company”
- 624 Power to make regulations about the taxation of securitisation companies
- 625 Regulations: supplementary
- Chapter 5 Companies in liquidation or administration
- Introduction
- 626 Meaning of “final year”, “penultimate year” etc
- 627 Meaning of “main rate of corporation tax” for companies with ring fence profits or small profits
- Companies in liquidation
- 628 Company in liquidation: corporation tax rates
- 629 Company in liquidation: making of assessment to tax
- Companies in administration
- 630 Company in administration: corporation tax rates
- 631 Company in administration: making of assessment to tax
- Supplementary
- 632 Meaning of rate being “fixed” or “proposed”
- 633 Exemption for interest on overpaid tax in final accounting period
- Chapter 6 Banks etc in compulsory liquidation
- 634 Overview of Chapter
- 635 Application of Chapter
- 636 Charge to corporation tax on winding up receipts
- 637 Transfer of rights to payment
- 638 Allowable deductions
- 639 Election to carry back
- 640 Relationship of Chapter with other corporation tax provisions
- 641 Interpretation of Chapter
- Chapter 7 Co-operative housing associations
- 642 Disregard of rent from members and of interest payable
- 643 Exemption for gains on a sale of property
- 644 Approval of housing associations
- 645 Tests to be satisfied by the association
- 646 Delegation of powers to the Regulator of Social Housing
- 647 Claims under section 642 or 643
- 648 Adjustments of liability
- 649 Power to make further provision
- Chapter 8 Self-build societies
- 650 Meaning of “self-build society”
- 651 Disregard of rent from members
- 652 Exemption for gains on disposals of land to members
- 653 Approval of self-build societies
- 654 Delegation of powers to the Regulator of Social Housing
- 655 Claims under section 651 or 652
- 656 Adjustments of liability
- 657 Power to make further provision
- Chapter 9 Community amateur sports clubs
- Basic concepts
- 658 Meaning of “community amateur sports club” and “registered club”
- 659 Meaning of “open to the whole community”
- 660 Meaning of “organised on an amateur basis”
- 660A Clubs consisting mainly of social members
- 661 Meaning of “eligible sport”, “qualifying purposes” etc
- 661A The location condition
- 661B The management condition
- 661C Periods over which management condition treated as met
- 661CA. The income condition
- Gifts ... relief
- 661D Tax treatment of gifts qualifying for gift aid relief
- 661E Tax treatment of gifts of money from companies
- Exemptions
- 662 Exemption for UK trading income
- 663 Exemption for UK property income
- 664 Exemption for interest , gift aid and company gift income
- 665 Exemption for chargeable gains
- Claims
- 665A Claims in relation to interest , gift aid and company gift income
- Restrictions on exemptions
- 666 Exemptions reduced if non-qualifying expenditure incurred
- 667 Rules for attributing surplus amount to earlier periods etc
- 668 How income and gains are attributed
- Deemed disposal and acquisition of asset
- 669 Asset ceasing to be held for qualifying purposes etc
- Decisions and appeals
- 670 Notification of HMRC decision
- 671 Appeals
- Part 14 Change in company ownership
- Chapter 1 Introduction
- 672 Overview of Part
- Chapter 2 Disallowance of trading losses
- 673 Introduction to Chapter
- 674 Disallowance of trading losses
- 674A Section 674: exception for certain losses of ring fence trade
- 675 Disallowance of trading losses: calculation of balancing charges
- 676 Company reconstructions
- CHAPTER 2A Post-1 April 2017 losses: Further cases involving a change in the company's activities
- 676AA Introduction to Chapter
- 676AB Priority of provisions of Chapters 2 and 3 over this Chapter
- 676AC “Major change in the business” of a company
- 676AD Notional split of accounting period in which change in ownership occurs
- 676AE “Affected profits”
- 676AF Restriction on use of carried-forward post-1 April 2017 trade losses
- 676AG Restriction on debits to be brought into account
- 676AH Restriction on the carry forward of post-1 April 2017 non-trading deficit from loan relationships
- 676AI Restriction on relief for post-1 April 2017 non-trading loss on intangible fixed assets
- 676AJ Restriction on deduction of post-1 April 2017 expenses of management
- 676AK Restriction on use of post-1 April 2017 UK property business losses
- 676AL “Co-transferred company” and “related company”
- CHAPTER 2B Asset transferred within group: restriction of relief for post-1 April trade losses
- 676BA Introduction to Chapter
- 676BB Notional split of accounting period in which change in ownership occurs
- 676BC Disallowance of relief for trade losses
- 676BD Meaning of “the relevant provisions”
- 676BE Meaning of “amount of profits which represents a relevant gain”
- CHAPTER 2C Disallowance of group relief for carried-forward losses: general provision
- 676CA Introduction to Chapter
- 676CB Restriction on surrender of carried-forward losses
- 676CC Cases where consortium condition 1 or 2 was previously met
- 676CD Cases where consortium condition 3 or 4 was previously met
- 676CE Exceptions to restrictions
- 676CF Cases where Chapter 2, 2A or 3 also applies
- 676CG “Affected profits”
- 676CH “Relevant pre-acquisition loss”
- 676CI Interpretation of Chapter
- CHAPTER 2D Asset transferred within group: Restriction of group relief for carried-forward losses
- 676DA Introduction to Chapter
- 676DB Notional split of accounting period in which change in ownership occurs
- 676DC Disallowance of group relief for carried-forward losses
- 676DD Meaning of “the relevant provisions”
- 676DE Meaning of “amount of profits which represents a relevant gain”
- CHAPTER 2E Post-1 April 2017 trade losses: cases involving the transfer of a trade
- 676EA Introduction to Chapter
- 676EB Restriction on use of trade losses carried-forward on transfer of trade
- 676EC Restriction on surrender of trade losses carried forward on transfer of trade
- 676ED Indirect transfers of a trade
- 676EE Interpretation of Chapter
- Chapter 3 Company with investment business: restrictions on relief: general provision
- Introduction
- 677 Introduction to Chapter
- Notional split of accounting period in which change in ownership occurs
- 678 Notional split of accounting period in which change in ownership occurs
- Restrictions on relief
- 679 Restriction on debits to be brought into account
- 680 Restriction on the carry forward of non-trading deficit from loan relationships
- 681 Restriction on relief for non-trading loss on intangible fixed assets
- 682 Restriction on the deduction of expenses of management
- 683 Disallowance of UK property business losses
- 684 Disallowance of overseas property business losses
- Apportionment of amounts
- 685 Apportionment of amounts
- 686 Meaning of certain expressions in section 685
- Adjustment to balancing charges if relief is restricted
- 687 Adjustment to balancing charges if relief is restricted
- Meaning of “significant increase in the amount of a company's capital”
- 688 Meaning of “significant increase in the amount of a company's capital”
- 689 Amount A
- 690 Amount B
- 691 Meaning of “amount of capital”
- Chapter 4 Company with investment business: restrictions on relief: asset transferred within group
- Introduction
- 692 Introduction to Chapter
- 693 Meaning of “amount of profits which represents a relevant gain”
- 694 Meaning of “the relevant provisions”
- Notional split of accounting period in which change in ownership occurs
- 695 Notional split of accounting period in which change in ownership occurs
- Restrictions on relief
- 696 Restriction on debits to be brought into account
- 697 Restriction on the carry forward of non-trading deficit from loan relationships
- 698 Restriction on relief for non-trading loss on intangible fixed assets
- 699 Restrictions on the deduction of expenses of management
- 700 Disallowance of UK property business losses
- 701 Disallowance of overseas property business losses
- Apportionment of amounts
- 702 Apportionment of amounts
- 703 Meaning of certain expressions in section 702
- Chapter 5 Company without investment business: disallowance of property losses
- 704 Company carrying on UK property business
- 705 Company carrying on overseas property business
- CHAPTER 5A Shell companies: restrictions on relief
- Introduction
- 705A Introduction to Chapter
- 705B Notional split of accounting period in which change in ownership occurs
- Restrictions on relief
- 705C Restriction on debits to be brought into account
- 705D Restriction on carry forward of non-trading deficit from loan relationships
- 705E Restriction on relief for non-trading loss on intangible fixed assets
- Apportionment of amounts
- 705F Apportionment of amounts
- 705G Meaning of certain expressions in section 705F
- Chapter 6 Recovery of unpaid corporation tax
- General definitions
- 706 Meaning of “linked” person
- 707 Meaning of “control”
- 708 Rights to be attributed for the purposes of section 707
- 709 Meaning of “the relevant period”
- Recovery of unpaid corporation tax for accounting period beginning before change
- 710 Recovery of unpaid corporation tax for accounting period beginning before change
- 711 Conditions relating to company's trade or business
- 712 Meaning of “a major change in the nature or conduct of a trade or business”
- Recovery of unpaid corporation tax for accounting period ending on or after change
- 713 Recovery of unpaid corporation tax for accounting period ending on or after change
- 714 The expectation condition
- 715 Meaning of “transaction entered into in connection with change in ownership”
- Miscellaneous
- 716 Interest
- 717 Effect of payment in pursuance of assessment under section 710 or 713
- 718 Meaning of “associated company”
- Chapter 7 Meaning of “change in the ownership of a company”
- Meaning of “change in the ownership of a company”
- 719 Meaning of “change in the ownership of a company”
- 720 Section 719: supplementary
- 721 When things other than ordinary share capital may be taken into account: Chapters 2 to 5A
- 722 When things other than ordinary share capital may be taken into account: Chapter 6
- Changes in indirect ownership
- 723 Changes in indirect ownership
- Disregard of change in ownership
- 724 Disregard of change in company ownership
- 724A Disregard of change in parent company
- Supplementary provision
- 725 Provision applying for the purposes of Chapters 2 to 5A
- 726 Interpretation of Chapter
- Chapter 8 Supplementary provision
- 727 Extended time limit for assessment
- 728 Provision of information about ownership of shares etc
- 729 Meaning of “company with investment business”
- 730 Meaning of “relevant non-trading debit”
- PART 14A Transfer of deductions
- 730A Overview
- 730B Interpretation of Part
- 730C Disallowance of deductible amounts: relevant claims
- 730D Disallowance of deductible amounts: profit transfers
- PART 14B Tax avoidance involving carried-forward losses
- 730E Overview
- 730F Meaning of “relevant carried-forward loss”
- 730G Disallowance of deductions for relevant carried-forward losses
- 730H Interpretation of section 730G
- Part 15 Transactions in securities
- Introduction
- 731 Overview of Part
- 732 Meaning of “corporation tax advantage”
- Company liable to counteraction of corporation tax advantage
- 733 Company liable to counteraction of corporation tax advantage
- 734 Exception where no tax avoidance object shown
- Circumstances in which corporation tax advantages obtained or obtainable
- 735 Abnormal dividends used for exemptions or reliefs (circumstance A)
- 736 Receipt of consideration representing company's assets, future receipts or trading stock (circumstance C)
- 737 Receipt of consideration in connection with relevant company distribution (circumstance D)
- 738 Receipt of assets of relevant company (circumstance E)
- 739 Meaning of “relevant company” in sections 737 and 738
- 740 Abnormal dividends: general
- 741 Abnormal dividends: the excessive return condition
- 742 Abnormal dividends: the excessive accrual condition
- Procedure for counteraction of corporation tax advantages
- 743 Preliminary notification that section 733 may apply
- 744 Opposed notifications: statutory declarations
- 745 Opposed notifications: determinations by tribunal
- 746 Counteraction notices
- 747 Timing of assessments in section 738 cases
- Clearance procedure
- 748 Application for clearance of transactions
- 749 Effect of clearance notification under section 748
- Appeals
- 750 Appeals against counteraction notices
- Interpretation
- 751 Interpretation of Part
- Part 16 Factoring of income etc
- Chapter 1 Transfers of income streams
- 752 Application of Chapter
- 753 Value of transferred income stream treated as income
- 754 Exception: amount otherwise taxed
- 755 Exception: transfer by way of security
- 756 Partnership shares
- 757 Interpretation of Chapter
- Chapter 1A Disposals of income streams through partnerships
- 757A Application of Chapter
- 757B Relevant amount to be treated as income
- Chapter 2 Finance arrangements
- Type 1 arrangements
- 758 Type 1 finance arrangement defined
- 759 Certain tax consequences not to have effect
- 760 Payments treated as borrower's income
- 761 Deemed loan relationship if borrower is a company
- 762 Deemed loan relationship if borrower is partnership with corporate member
- Type 2 arrangements
- 763 Type 2 finance arrangement defined
- 764 Relevant change in relation to partnership
- 765 Certain tax consequences not to have effect
- 766 Deemed loan relationship
- Type 3 arrangements
- 767 Type 3 finance arrangement defined
- 768 Certain tax consequences not to have effect
- 769 Deemed loan relationship
- Exceptions
- 770 Exceptions: preliminary
- 771 Exceptions
- 772 Exceptions: relevant person
- 773 Power to make further exceptions
- Supplementary
- 774 Accounts
- 775 Arrangements
- 776 Assets
- Chapter 3 Loan or credit transactions
- 777 Loan or credit transaction defined
- 778 Certain payments treated as interest
- 779 Tax charged on income transferred
- Chapter 4 Disposals of assets through partnerships
- 779A Application of Chapter
- 779B Relevant amount to be treated as income
- Part 17 Manufactured payments and repos
- Chapter 1 Introduction
- 780 Overview of Part
- 781 Key definitions
- Chapter 2 Manufactured dividends
- 782 Meaning of “manufactured dividend”
- 783 Treatment of payer of manufactured dividend
- 784 Treatment of recipient of manufactured dividend
- 785 Treatment of payer: Real Estate Investment Trusts
- 786 Treatment of recipient: Real Estate Investment Trusts
- 787 Exemption of manufactured dividends
- 788 Statements about manufactured dividends
- 789 Powers about administrative provisions
- Chapter 3 Manufactured overseas dividends
- 790 Meaning of “manufactured overseas dividend”
- 791 Treatment of payer of manufactured overseas dividend
- 792 Company receiving manufactured overseas dividend fromUKresidentetc
- 793 Section 792: amount treated as withheld
- 794 Company receiving manufactured overseas dividend from foreign payer
- 795 Exemption of manufactured overseas dividends
- Chapter 4 Further provision about manufactured payments
- Manufactured payments exceeding, or less than, underlying payments
- 796 Manufactured dividends: amounts exceeding underlying payments
- 797 Manufactured overseas dividends: amounts exceeding underlying payments
- 798 Manufactured overseas dividends less than underlying payments
- Manufactured payments under arrangements with unallowable purpose
- 799 Manufactured payments under arrangements with unallowable purpose
- 800 Arrangements with an unallowable purpose
- 801 Sections 799 and 800: supplementary
- Miscellaneous
- 802 Powers about amounts representative of overseas dividends
- 803 Power to deal with special cases
- 804 Regulation-making powers: general
- Chapter 5 Stock lending arrangements and repos
- Interpretation
- 805 “Stock lending arrangement”
- 806 Section 805: supplementary
- 807 “Creditor repo”, “creditor quasi-repo”, “debtor repo” and “debtor quasi-repo”
- Tax credits: stock lending arrangements and repos
- 808 No tax credits for borrower under stock lending arrangement
- 809 No tax credits for lender under creditor repo or creditor quasi-repo
- 810 No tax credits for borrower under debtor repo or debtor quasi-repo
- 811 Arrangements between companies to make distributions
- Deemed manufactured payments
- 812 Deemed manufactured payments: stock lending arrangements
- Chapter 6 Interpretation of Part
- 813 The gross amount of a manufactured overseas dividendetc
- 814 Other interpretation
- PART 17A Manufactured dividends
- 814A Overview of Part
- 814B Key definitions
- 814C Treatment of payer of manufactured dividend
- 814D Treatment of recipient of manufactured dividend
- Part 18 Transactions in land
- Introduction
- 815 Introduction to Part
- 816 Meaning of disposing of land
- 817 Priority of other tax provisions
- Charge to tax on gains from transactions in land
- 818 Charge to tax on gains from transactions in land
- 819 Gains obtained from land disposals in some circumstances
- 820 Person obtaining gain
- 821 Company chargeable
- 822 Method of calculating gain
- Further provisions relevant to the charge
- 823 Transactions, arrangements, sales and realisations relevant for Part
- 824 Tracing value
- 825 Meaning of “another person”
- 826 Valuations and apportionments
- Exemptions
- 827 Gain attributable to period before intention to develop formed
- 828 Disposals of shares in companies holding land as trading stock
- Recovery of tax
- 829 Cases where consideration receivable by person not assessed
- 830 Certificates of tax paid etc
- Clearances and power to obtain information
- 831 Clearance procedure
- 832 Power to obtain information
- Interpretation
- 833 Interpretation of Part
- Part 19 Sale and lease-back etc
- Chapter 1 Payments connected with transferred land
- Introduction
- 834 Overview of Chapter
- Application of the Chapter
- 835 Transferor or associate becomes liable for payment of rent
- 836 Transferor or associate becomes liable for payment other than rent
- 837 Relevant corporation tax relief
- Relief (other than for certain insurance company expenses): restriction and carrying forward
- 838 Relevant corporation tax relief: deduction not to exceed commercial rent
- Insurance company expenses: restriction and carrying forward of relief
- 839 Deduction ... not to exceed commercial rent
- 840 Carrying forward parts of payments
- 841 Aggregation and apportionment of payments
- 842 Payments made for later periods
- Interpretation etc
- 843 Exclusion of service charges etc
- 844 Commercial rent: comparison with rent under a lease
- 845 Commercial rent: comparison with payments other than rent
- 846 Lease and rent
- 847 Associated persons
- 848 Land outside the UK
- Chapter 2 New lease of land after assignment or surrender
- Introduction
- 849 Overview of Chapter
- Application of the Chapter
- 850 New lease after assignment or surrender
- Taxation of consideration
- 851 Taxation of consideration
- 852 Position where new lease does not include all original property
- Relief for rent under new lease
- 853 Relief for rent under new lease
- New lease treated as ending
- 854 New lease treated as ending
- 855 Position where rent reduces
- 856 Position where lease may be ended
- 857 Position where lease may be varied
- 858 Lease treated as ending: rentcharge
- Lease varied to provide for increased rent
- 859 Lease varied to provide for increased rent
- Interpretation
- 860 Relevant corporation tax relief
- 861 Linked persons
- 862 Lease, lessee, lessor and rent
- Chapter 3 Leased trading assets
- Introduction
- 863 Overview of Chapter
- Application of the Chapter
- 864 Leased trading assets
- Relief: restriction and carrying forward
- 865 Tax deduction not to exceed commercial rent
- 866 Long funding finance leases
- 867 Commercial rent
- Interpretation
- 868 Lease
- 869 Relevant asset
- Chapter 4 Leased assets: capital sums
- Introduction
- 870 Overview of Chapter
- Application of the Chapter
- 871 Application of the Chapter
- 872 Payment under lease
- 873 Sum obtained
- Charge to corporation tax
- 874 Charge to corporation tax
- 875 Hire-purchase agreements
- 876 Adjustments where sum obtained before payment made
- Obtaining of sum
- 877 Sum obtained in respect of interest
- 878 Sum obtained in respect of lessee's interest
- 879 Disposal of interest to associate
- Apportionment
- 880 Apportionment of payments made and of sums obtained
- 881 Manner of apportionment
- Interpretation
- 882 Associates
- 883 Capital sum
- 884 Lease
- 885 Relevant asset
- 886 Relevant tax relief
- Part 20 Tax avoidance involving leasing plant or machinery
- Chapter 1 Restrictions on use of losses in leasing partnerships
- 887 When restrictions on leasing partnership losses under this Chapter apply
- 888 Restrictions on leasing partnership losses
- 889 Interpretation of Chapter
- Chapter 2 Capital payments in respect of leases treated as income
- 890 Capital payments in respect of leases treated as income
- 891 Apportionments for leases of plant or machinery and other property
- 892 Deduction where failure to make relevant capital payment expected
- 893 Meaning of “capital payment”, “relevant capital payment” etc
- 894 Other interpretation of Chapter
- Chapter 3 Consideration for taking over payment obligations as lessee treated as income
- 894A Consideration for taking over payment obligations as lessee treated as income
- Part 21 Leasing arrangements: finance leases and loans
- Chapter 1 Introduction
- Introduction
- 895 Overview of Part
- Meaning of expressions about rent
- 896 Normal rent
- 897 Accountancy rental earnings
- 898 Rental earnings
- Chapter 2 Finance leases with return in capital form
- Introduction
- 899 Arrangements to which this Chapter applies
- 900 Purposes of this Chapter
- Leases to which this Chapter applies
- 901 Application of this Chapter
- 902 The conditions referred to in section 901(1)
- 903 Provisions supplementing section 902
- 904 The arrangements and circumstances referred to in section 902(8)
- Current lessor taxed by reference to accountancy rental earnings
- 905 Current lessor taxed by reference to accountancy rental earnings
- Reduction of taxable rent by cumulative rental excesses
- 906 Reduction of taxable rent by cumulative rental excesses: introduction
- 907 Meaning of “accountancy rental excess” and “cumulative accountancy rental excess”
- 908 Reduction of taxable rent by the cumulative accountancy rental excess
- 909 Meaning of “normal rental excess” and “cumulative normal rental excess”
- 910 Reduction of taxable rent by the cumulative normal rental excess
- Relief for bad debts by reduction of cumulative rental excesses
- 911 Relief for bad debts: reduction of cumulative accountancy rental excess
- 912 Recovery of bad debts following reduction under section 911
- 913 Relief for bad debts: reduction of cumulative normal rental excess
- 914 Recovery of bad debts following reduction under section 913
- Effect of disposals
- 915 Effect of disposals of leases: general
- 916 Assignments on which neither a gain nor a loss accrues
- Capital allowances: clawback of major lump sum
- 917 Effect of capital allowances: introduction
- 918 Cases where expenditure taken into account under Part 2, 5 or 8 of CAA 2001
- 919 Cases where expenditure taken into account under other provisions of CAA 2001
- 920 Capital allowances deductions: waste disposal and cemeteries
- 921 Capital allowances deductions: films
- 922 Contributors to capital expenditure
- Schemes to which this Chapter does not at first apply
- 923 Pre-26 November 1996 schemes where this Chapter does not at first apply
- 924 Post-25 November 1996 schemes to which Chapter 3 applied first
- Chapter 3 Other finance leases
- Introduction
- 925 Introduction to Chapter
- 926 Purpose of this Chapter
- Current lessor taxed by reference to accountancy rental earnings
- 927 Leases to which this Chapter applies
- 928 Current lessor taxed by reference to accountancy rental earnings
- Application of provisions of Chapter 2 for purposes of this Chapter
- 929 Application of provisions of Chapter 2 for purposes of this Chapter
- Chapter 4 Supplementary provisions
- 930 Pre-26 November 1996 schemes and post-25 November 1996 schemes
- 931 Time apportionment where periods of account do not coincide
- 932 Periods of account and related periods of account and accounting periods
- 933 Connected persons
- 934 Assets which represent the leased asset
- 935 Parent undertakings and consolidated group accounts
- 936 Assessments and adjustments
- 937 Interpretation of Part
- Part 21A Risk transfer schemes
- Introduction
- 937A Overview
- 937B Group schemes and single company schemes
- Basic definitions
- 937C Meaning of “risk transfer scheme”
- 937D Meaning of “the scheme rate, index or value”
- 937E Scheme losses and scheme profits
- 937F Ring-fenced scheme losses and relevant scheme profits
- Treatment of ring-fenced scheme losses
- 937G Ring-fenced scheme loss: treatment in period in which made
- 937H Ring-fenced scheme loss: treatment in subsequent periods
- A company's losses pool and profits pool
- 937I A company's losses pool and profits pool
- General
- 937J Tax capacity assumption
- 937K Meaning of “associated with”
- 937L Interpretation of references to economic losses and profits
- 937M Foreign currency accounting
- 937N Meaning of “scheme”
- 937NA Priority
- Power to amend this Part
- 937O Power to amend this Part in its application to dealers in securities
- Part 21B Group mismatch schemes
- 938A Losses and profits from group mismatch schemes to be disregarded
- 938B Meaning of “a group mismatch scheme” and “the scheme group”
- 938C Meaning of “scheme loss” and “scheme profit”
- 938D Meaning of “relevant tax advantage” etc and “the scheme period”
- 938E Meaning of “group”
- 938F Meaning of references to economic profits and losses
- 938G Tax capacity assumption
- 938H Meaning of “scheme”
- 938I Schemes involving repos or quasi-repos
- 938J Schemes involving finance arrangements
- 938K Trading income
- 938L Foreign companies and foreign permanent establishments
- 938M Controlled foreign companies
- 938N Priority
- PART 21BA Tax mismatch schemes
- 938O Losses and profits from tax mismatch scheme to be disregarded
- 938P Meaning of “tax mismatch scheme”
- 938Q Meaning of “scheme loss” and “scheme profit”
- 938R Meaning of “relevant tax advantage” etc and “the scheme period”
- 938S Meaning of references to economic profits and losses
- 938T Tax capacity assumption
- 938U Meaning of “scheme”
- 938V Priority
- Part 21C Tainted charity donations
- Introduction
- 939A Overview of Part
- 939B Relievable charity donations
- Tainted donations
- 939C Tainted donations
- 939D Circumstances in which financial advantage deemed to be obtained
- 939E Certain financial assistance to be ignored
- Removal of reliefs
- 939F Removal of corporation tax relief where donation becomes tainted in same accounting period
- 939FA Clawback of corporation tax relief where donation becomes tainted in later accounting period
- 939FB Removal or clawback of corporation tax relief for associated donations
- Supplementary
- 939G Connected charities
- 939H Connected persons
- 939I Minor definitions
- Part 22 Miscellaneous provisions
- Chapter 1 Transfers of trade without a change of ownership
- Introduction
- 940A Overview of Chapter
- 940B Meaning of “transfer of a trade” and related expressions
- Transfers to which Chapter applies
- 940C Transfers to which Chapter applies
- 941 The ownership condition
- 942 Options that may be applied for the purposes of the ownership condition
- 943 The tax condition
- Effect of Chapter in relation to transfers to which it applies
- 943A Disapplication of section 39
- 944 Modified application of section 45
- 944A Modified application of section 45A
- 944B Modified application of section 45B
- 944C Modified application of section 45F
- 944D Modified application of section 303B
- 944E Modified application of section 303D
- 945 Cases in which predecessor retains more liabilities than assets
- 946 Rules for determining “L”
- 947 Rules for determining “A”
- 948 Modified application of CAA 2001
- 949 Dual resident investing companies
- 950 Transfers of trades involving business of leasing plant or machinery
- Supplementary
- 951 Part of trade treated as separate trade
- 952 Apportionment if part of trade treated as separate trade
- 953 Application of Chapter to further transfers of a trade
- Chapter 2 Transfers of trade to obtain balancing allowances
- 954 Transfer of activities on complete cessation of trade
- 955 Transfer of activities on part cessation of trade
- 956 Apportionment if part of trade treated as separate trade
- 957 Chapter 2: supplementary
- Chapter 3 Transfer of relief within partnerships
- 958 Application
- 959 Arrangements for transfer of relief
- 960 Restrictions on use of reliefs
- 961 Non-trading profits and losses
- 962 Interpretation of Chapter
- Chapter 4 Surrender of tax refund within group
- 963 Power to surrender tax refund
- 964 Effects of surrender of tax refund
- 965 Interest on tax overpaid or underpaid
- 966 Payments for surrendered tax refunds
- Chapter 5 Set off of income tax deductions against corporation tax
- 967 Deductions from payments received by UK resident companies
- 968 Deductions from payments received by non-UK resident companies
- Chapter 6 Collection etc of tax from UK representatives of non-UK resident companies
- 969 Introduction to Chapter
- 970 Obligations and liabilities in relation to corporation tax
- 971 Exceptions
- 972 Interpretation of Chapter
- Chapter 7 Recovery of unpaid corporation tax due from non-UK resident company
- 973 Introduction to Chapter
- 974 Case in which this Chapter applies
- 975 Meaning of “the relevant period”
- 976 Meaning of “related company”
- 977 Notice requiring payment of unpaid tax
- 978 Time limit for giving notice
- 979 Amount payable in consortium case
- 980 Chapter 7: supplementary
- Chapter 8 Exemptions
- Trade unions and employers' associations
- 981 Exemption for trade unions and eligible employers' associations
- 982 Qualifying income or gains
- 983 Meaning of “trade union” and “eligible employers' association”
- Local authorities etc
- 984 Local authorities and local authority associations
- Health service bodies
- 985 Health service bodies
- 986 Meaning of “health service body”
- 987 NHS foundation trusts
- Police
- 987A Chief constables etc (England and Wales)
- Education Authority of Northern Ireland
- 987B Education Authority of Northern Ireland
- Northern Ireland Housing Executive
- 987C Northern Ireland Housing Executive
- Reserve Bank of India and State Bank of Pakistan
- 988 Issue departments of the Reserve Bank of India and the State Bank of Pakistan
- Agricultural societies
- 989 Agricultural societies
- Chapter 9 Other miscellaneous provisions
- UK Economic Interest Groupings and European Economic Interest Groupings
- 990 UK Economic Interest Groupings and European Economic Interest Groupings
- Harbour reorganisation schemes
- 991 Harbour reorganisation schemes: corporation tax
- 992 Harbour reorganisation schemes: capital allowances etc
- 993 Harbour reorganisation schemes: chargeable gains
- 994 Transfer of part of trade
- 995 Interpretation of sections 991 to 994
- Groups: use of different accounting practices
- 996 Use of different accounting practices within a group of companies
- Sporting testimonial payments and associated payments
- 996A Deductions from total profits for sporting testimonial payments and associated payments
- Part 23 Company distributions
- Chapter 1 Introduction
- 997 Overview of Part
- Chapter 2 Matters which are distributions
- Introduction
- 998 Overview of Chapter
- 999 Priority of negative rules
- Meaning of “distribution”
- 1000 Meaning of “distribution”
- 1001 Provisions related to paragraphs A to H in section 1000(1)
- Distributions, other than dividends, in respect of shares
- 1002 Exceptions for certain transfers of assets or liabilities between a company and its members
- Redeemable share capital
- 1003 Redeemable share capital
- Securities issued otherwise than for new consideration
- 1004 Securities issued otherwise than for new consideration
- Distributions in respect of non-commercial securities
- 1005 Meaning of “non-commercial securities”
- 1006 Distributions exceeding consideration received for issue of security
- 1007 Securities issued at premium representing new consideration
- 1008 Consideration for issue of security exceeding amount of principal
- Exceptions to section 1008
- 1009 Securities reflecting dividends on certain shares etc: exclusion of section 1008
- 1010 Meaning of “qualifying index” in section 1009
- 1011 Meaning of “associated company” in section 1009
- 1012 Hedging arrangements
- 1013 Exception to section 1012
- 1014 Meaning of “hedging arrangements”
- Distributions in respect of special securities
- 1015 Meaning of “special securities”
- 1016 Meaning of “equity note” in section 1015
- 1017 Section 1015: other interpretation
- 1018 The principal secured: special securities
- 1019 Relevant alternative finance return
- Transfers of assets or liabilities treated as distributions
- 1020 Transfers of assets or liabilities treated as distributions
- 1021 Section 1020: exceptions
- Bonus issue following repayment of share capital
- 1022 Bonus issue following repayment of share capital treated as distribution
- 1023 Exceptions to section 1022(3)
- Interpretation of references to repayment of share capital
- 1024 Premiums paid on redemption of share capital
- 1025 Share capital issued at a premium representing new consideration
- 1026 Distributions following a bonus issue
- 1027 Cap on amount of distributions affected by section 1026
- 1027A Distributions following reduction of share capital
- 1028 Certain payments connected with exempt distributions
- Chapter 3 Matters which are not distributions
- Introduction
- 1029 Overview of Chapter
- Distributions in a winding up
- 1030 Distribution in respect of share capital in a winding up
- Distributions prior to dissolution of company
- 1030A Distributions in respect of share capital prior to dissolution of company
- 1030B Section 1030A: effect of company not being dissolved, etc
- Distribution as part of a cross-border merger
- 1031 Distribution as part of a cross-border merger
- Payments of interest
- 1032 Interest etc paid in respect of certain securities
- ...
- 1032A Payment in respect of tier two capital
- Purchase of own shares
- 1033 Purchase by unquoted trading company of own shares
- 1034 Requirements as to residence
- 1035 Requirement as to period of ownership
- 1036 Determining the period of ownership
- 1037 Requirement as to reduction of seller's interest as shareholder
- 1038 Section 1037: effect of entitlement to profits
- 1039 Requirements where purchasing company is a member of a group
- 1040 Determining whether interests as shareholders in a group are substantially reduced
- 1041 Section 1040: effect of entitlement to profits
- 1042 Other requirements
- 1043 Relaxation of requirements in certain cases
- Purchase of own shares: supplementary
- 1044 Advance clearance of payments by Commissioners
- 1045 Advance clearance: supplementary
- 1046 Information and returns
- 1047 Meaning of “group” and “51% subsidiary” in sections 1033 to 1047
- 1048 Sections 1033 to 1047: other interpretation
- Stock dividends
- 1049 Stock dividends
- 1050 Application of section 1049 where bonus share capital is converted etc
- 1051 “Bonus share capital” and “in lieu of a cash dividend”
- 1052 Share capital to which section 1049 applies: returns
- 1053 Return periods
- Building society payments
- 1054 Building society payments
- Registered society payments
- 1055 Registered societies : interest and share dividends
- 1056 Dividend or bonus relating to transactions
- Payments made by UK agricultural or fishing co-operatives
- 1057 UK agricultural or fishing co-operatives: interest and share dividends
- 1058 Meaning of “UK agricultural or fishing co-operative”
- Supplementary provisions
- 1059 Associated persons
- 1060 Associated persons: trustees
- 1061 Associated persons: personal representatives
- 1062 Connected persons
- 1063 Section 1062: supplementary
- Chapter 4 Special rules for distributions made by certain companies
- Close companies
- 1064 Certain expenses of close companies treated as distributions
- 1065 Exception for benefits treated as employment income etc
- 1066 Exception for certain transfers between UK resident companies
- 1067 Companies acting in concert or under arrangements
- 1068 Meaning of “participator” in sections 1064 to 1067
- 1069 Additional persons treated as participators
- Companies carrying on a mutual business
- 1070 Companies carrying on a mutual business
- Companies not carrying on a business
- 1071 Companies not carrying on a business
- Members of a 90% group
- 1072 Members of a 90% group
- Chapter 5 Demergers
- Introduction
- 1073 Key terms etc
- 1074 Purpose of provisions about demergers
- Exempt distributions
- 1075 Exempt distributions
- 1076 Transfer of shares in subsidiaries to members
- 1077 Transfer by distributing company and issue of shares by transferee company
- 1078 Division of business in a cross-border transfer
- 1079 “The distributing company”
- 1080 Meaning of “relevant company”
- Exemption by virtue of section 1076 or 1077: conditions
- 1081 General conditions
- 1082 Conditions for distributions within section 1076(a)
- 1083 Conditions for distributions within section 1077(1)
- 1084 Cases where condition K does not apply
- 1085 Conditions to be met if the distributing company is a 75% subsidiary
- Chargeable payments
- 1086 Chargeable payments connected with exempt distributions
- 1087 Chargeable payments not deductible in calculating profits
- 1088 Meaning of “chargeable payment”
- 1089 Meaning of “chargeable payment”: unquoted companies
- 1090 Meaning of “company concerned in an exempt distribution”
- Advance clearance
- 1091 Advance clearance of distributions
- 1092 Advance clearance of payments
- 1093 Requirements relating to applications for clearance
- 1094 Decision of the Commissioners or tribunal
- Information and returns
- 1095 Exempt distributions: returns
- 1096 Chargeable payments etc: returns
- 1097 Information about person for whom a payment is received
- Supplementary
- 1098 Meaning of “unquoted company”
- 1099 Other definitions etc
- Chapter 6 Information and returns: further provisions
- General duties to provide information
- 1100 Certain distributions: right to request a statement
- 1101 Other distributions etc: returns and information
- 1102 Other distributions etc: additional information
- 1103 Power to modify or replace sections 1101 and 1102
- Companies and nominees required to provide tax certificates
- 1104 Company distributing dividend or interest: duty to provide tax certificates
- 1105 Duties of nominees
- 1106 Meaning of “tax certificate” etc
- 1107 Penalties
- 1108 Alternative means of compliance with sections 1104 and 1105
- Chapter 7 Tax credits
- 1109 Tax credits for certain recipients of exempt qualifying distributions
- 1110 Recovery of overpaid tax credit etc
- 1111 Section 1110: supplementary
- Chapter 8 Interpretation of Part
- 1112 Arrangements between companies
- 1113 “In respect of shares”
- 1114 “In respect of securities”
- 1115 “New consideration”
- 1116 References to married persons, or civil partners, living together
- 1117 Other interpretation
- Part 24 Corporation Tax Acts definitions etc
- Chapter 1 Definitions
- 1118 Introduction to Chapter
- 1119 The definitions
- 1120 “Bank”
- 1121 “Company”
- 1122 “Connected” persons
- 1123 “Connected” persons: supplementary
- 1124 “Control”
- 1125 “Farming” and related expressions
- 1126 “Franked investment income”
- 1127 “Generally accepted accounting practice” and related expressions
- 1128 “Grossing up”
- 1129 “Hire-purchase agreement”
- 1130 “Local authority”
- 1131 “Local authority association”
- 1132 “Offshore installation”
- 1133 Regulations about the meaning of “offshore installation”
- 1134 “Oil and gas exploration and appraisal”
- 1135 “Property investment LLP”
- 1136 “Qualifying distribution”
- 1137 “Recognised stock exchange”
- 1138 “Research and development”
- 1139 “Tax advantage”
- 1140 “Unauthorised unit trust”
- Chapter 2 Permanent establishments
- General
- 1140A Introduction
- 1141 Permanent establishments of companies
- Circumstances where there is no permanent establishment
- 1142 Agent of independent status
- 1143 Preparatory or auxiliary activities
- 1144 Alternative finance arrangements
- Brokers
- 1145 The independent broker conditions
- Investment managers
- 1146 The independent investment manager conditions
- 1147 Investment managers: the 20% rule
- 1148 Section 1147: interpretation
- 1149 Application of 20% rule to collective investment schemes
- 1150 Meaning of “investment manager” and “investment transaction”
- Lloyd's agents
- 1151 Lloyd's agents
- Supplementary
- 1152 Investment managers: disregard of certain chargeable profits
- 1153 Miscellaneous
- Chapter 3 Subsidiaries
- 1154 Meaning of “51% subsidiary”, “75% subsidiary” and “90% subsidiary”
- 1155 Indirect ownership of ordinary share capital
- 1156 Calculation of amounts owned indirectly: main rules
- 1157 Adding fractions together
- Chapter 4 Investment trusts
- 1158 Meaning of “investment trust”
- 1159 Approval
- 1160 Calculation of income
- 1161 The income retention condition: exceptions
- 1162 The 15% holding limit: exceptions
- 1163 Basic meaning of “holding in a company”
- 1164 More about the meaning of “holding in a company”
- 1165 Other interpretation
- Chapter 5 Other Corporation Tax Acts provisions
- 1166 Scotland
- 1167 Sources of income within the charge to corporation tax or income tax
- 1168 Payment of dividends
- 1169 Settlements and trustees
- 1170 Territorial sea of the United Kingdom
- 1171 Orders and regulations
- 1172 Apportionment to different periods
- 1173 Miscellaneous charges
- Part 25 Definitions for purposes of Act and final provisions
- Definitions for the purposes of Act
- 1174 Abbreviated references to Acts
- 1175 Claims and elections
- 1176 Meaning of “connected” persons and “control”
- Final provisions
- 1177 Minor and consequential amendments
- 1178 Power to make consequential provision
- 1179 Power to undo changes
- 1180 Transitional provisions and savings
- 1181 Repeals and revocations
- 1182 Index of defined expressions
- 1183 Extent
- 1184 Commencement
- 1185 Short title
- Schedules
- SCHEDULE 1 Minor and consequential amendments
- Part 1 Income and Corporation Taxes Act 1988
- Part 2 Other enactments
- Finance Act 1930
- Finance Act (Northern Ireland) 1954 (c. 23(N.I.))
- Taxes Management Act 1970
- Oil Taxation Act 1975
- Solicitors (Northern Ireland) Order 1976 (S.I. 1976/582 (N.I. 12))
- Alcoholic Liquor Duties Act 1979
- Finance Act 1980
- Betting and Gaming Duties Act 1981
- Finance Act 1982
- Finance Act 1983
- Oil Taxation Act 1983
- Finance Act 1984
- Inheritance Tax Act 1984
- Police and Criminal Evidence Act 1984
- Administration of Justice Act 1985 (c. 61)
- Finance Act 1986
- Gas Act 1986
- Finance Act 1987
- Local Government Finance Act 1988
- Housing Act 1988
- Finance Act 1989
- Electricity Act 1989
- Police and Criminal Evidence (Northern Ireland) Order 1989 (S.I. 1989/1341 (N.I. 12))
- Finance Act 1990
- Finance Act 1991
- Taxation of Chargeable Gains Act 1992
- Finance (No.2) Act 1992(c. 48)
- Electricity (Northern Ireland) Order 1992 (S.I. 1992/231 (N.I. 1))
- Housing (Northern Ireland) Order 1992 (S.I. 1992/1725 (N.I. 15))
- Charities Act 1993
- Finance Act 1993
- Finance Act 1994
- Value Added Tax Act 1994
- Finance Act 1995
- Finance Act 1996
- Broadcasting Act 1996
- Gas (Northern Ireland) Order 1996 (S.I. 1996/275 (N.I. 2))
- Finance Act 1997 (c. 16)
- Finance Act 1998
- Petroleum Act 1998
- Regional Development Agencies Act 1998
- Finance Act 1999
- Commonwealth Development Corporation Act 1999
- Greater London Authority Act 1999
- Finance Act 2000
- Trustee Act 2000
- Transport Act 2000
- Capital Allowances Act 2001
- Finance Act 2001
- Trustee Act (Northern Ireland) 2001 (c. 14 (N.I.))
- Finance Act 2002
- Income Tax (Earnings and Pensions) Act 2003
- Finance Act 2003
- Housing (Northern Ireland) Order 2003 (S.I. 2003/412 (N.I. 2))
- Finance Act 2004
- Energy Act 2004
- Companies (Audit, Investigations and Community Enterprise) Act 2004
- Scotland Act 1998 (Transfer of Functions to the Scottish Ministers etc) Order 2004 (S.I. 2004/2030)
- Income Tax (Trading and Other Income) Act 2005
- Finance Act 2005
- Railways Act 2005
- Finance (No. 2) Act 2005 (c. 22)
- Finance Act 2006
- Companies Act 2006
- Charities Act 2006 (c. 50)
- Income Tax Act 2007
- Finance Act 2007
- Finance Act 2008
- Crossrail Act 2008 (c. 18)
- Charities Act (Northern Ireland) 2008 (c. 12 (N.I.))
- Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839)
- Corporation Tax Act 2009 (c. 4)
- Saving Gateway Accounts Act 2009 (c. 8)
- Finance Act 2009 (c. 10)
- SCHEDULE 2 Transitionals and savings etc
- Part 1 General provisions
- Continuity of the law: general
- General saving for old transitional provisions and savings
- Interpretation
- Part 2 Changes in the law
- Part 3 Currency
- Sterling equivalent of certain losses carried back to an earlier period
- Adjustment of certain sterling losses carried back to an earlier period
- Right of company to elect for alternative provision to apply
- Part 4 Loss relief (other than share loss relief)
- Carry forward loss reliefs
- Trade loss relief against total profits
- Transfers of trade to obtain relief
- Dealings in commodity futures
- Leasing contracts and company reconstructions
- Reliefs for limited partners not to exceed contribution to the firm
- Reliefs for members of LLPs not to exceed contribution to the LLP
- Loss relief against miscellaneous income: Case VI losses under ICTA
- Write-off of government investment
- Part 5 Losses on disposal of shares
- Disposals of new shares
- Qualifying trading companies
- The trading requirement
- Ceasing to meet trading requirement because of administration or receivership
- The control and independence requirement
- The qualifying subsidiaries requirement
- The property managing subsidiaries requirement
- The gross assets requirement
- The unquoted status requirement
- Power to amend requirements by Treasury order
- Relief after an exchange of shares for shares in another company
- substitution of new shares for old shares
- Interpretation of Chapter
- Meaning of “qualifying 90% subsidiary”
- Meaning of “qualifying subsidiary”
- Meaning of “excluded activities”
- Excluded activities: wholesale and retail distribution
- Excluded activities: leasing of ships
- Excluded activities: receipt of royalties and licence fees
- Excluded activities: provision of services or facilities for another business
- Meaning of a company being “in administration”
- Application in relation to corresponding bonus shares
- Part 6 Group Relief
- Part 7 Charitable donations relief
- Condition as to repayment
- Restrictions on associated benefits
- Enactment of extra-statutory concession
- Part 8 CITR
- Part 9 Oil activities
- Regional development grants
- Part 10 Leasing plant or machinery
- Disapplication of Chapter 2 of Part 9
- Disapplication of sections 360 and 361 and modification of section 360 in some cases
- Disapplication of provisions about cases where sections 360 to 369 do not apply
- Relief for expenses otherwise carried forward: losses incurred in accounting periods ending before 22 April 2009
- Modifications of sales of lessors Chapters in Part 9 where the relevant date is before 22 April 2009
- Part 11 Close companies
- Exceptions to the charge under section 455
- Part 12 Charitable companies etc
- Transactions in deposits
- Exemption for investment income
- Exemption for certain miscellaneous income
- Transactions with substantial donors
- Non-charitable expenditure
- Part 13 Real Estate Investment Trusts
- Notice under section 523 or 524
- Property rental business: excluded business
- Part 14 Co-operative housing associations and self-build societies
- Concurrent exercise of functions
- Delegation of functions to the Regulator of Social Housing
- Part 15 Transactions in securities
- Transactions in securities: general
- Transactions in securities: meaning of relevant companies for the purposes of sections 737 and 738
- Part 16 Factoring of income etc
- Transfers of income streams
- Application of Chapter 2 of Part 16 (finance arrangements) to pre-6 June 2006 arrangements
- Application of section 771 (finance arrangements: exceptions)
- Application of section 779 (income-transfer under loan or credit transaction)
- Part 17 Manufactured payments and repos
- Manufactured dividends and manufactured overseas dividends: distributions paid before 1 July 2009
- Manufactured overseas dividends: overseas dividends paid before 22 April 2009
- Deemed manufactured payments: stock lending arrangements
- Part 18 Sale and lease-back etc
- New lease of land after assignment or surrender: right to new lease existed pre-22 June 1971
- Part 19 Tax avoidance involving leasing plant or machinery
- Relevant capital payments: pre-12 March 2008 payments and obligations
- Relevant capital payments: leases whose inception is before 22 April 2009
- Part 20 Leasing arrangements: finance leases and loans
- Old bad debts
- Part 21 Transfers of trade without a change in ownership
- Part 22 Use of different accounting practices within a group
- Part 23 Company distributions
- Amount of principal secured: non-commercial securities
- Meaning of “special securities”
- Amount of principal secured: special securities
- Bonus issue following repayment of share capital
- Share capital issued as paid up otherwise than by receipt of new consideration
- Interest etc paid in respect of certain securities
- Stock dividends
- Exempt distributions
- Eligibility for tax credits
- Recovery of overpaid tax credits etc
- Part 24 Corporation Tax Acts definitions etc
- SCHEDULE 3 Repeals and revocations
- Part 1 General
- Part 2 Repeals and revocations having effect for corporation tax purposes only
- SCHEDULE 4 Index of defined expressions
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