Source: http://www.legislation.gov.uk/ukpga/2010/4/contents/enacted
Timestamp: 2017-08-21 05:01:54
Document Index: 415359530

Matched Legal Cases: ['art 2', 'art 3', 'art 4', 'art 5', 'art\n183', 'art 6', 'art 7', 'art 8', 'art\n271', 'art 9', 'art 10', 'art\n438', 'art\n439', 'art 11', 'art\n467', 'art 12', 'art\n519', 'art 12', 'art 13', 'art 14', 'art 15', 'art\n732', 'art 16', 'art 17', 'art\n781', 'art\n813', 'art 18', 'art\n816', 'art\n824', 'art 19', 'art 20', 'art 21', 'art\n896', 'art 2', 'art 22', 'art 4', 'art 23', 'art\n1112', 'art 24', 'art 25', 'art 6', 'art 6', 'art 6', 'art 10', 'art 10', 'art 11', 'art 11', 'art 12', 'art 13', 'art 17', 'art 4', 'art 4', 'art 6', 'art 3', 'art 4', 'art 5', 'art 6', 'art 7', 'art 8', 'art 9', 'art 10', 'art 9', 'art 9', 'art 11', 'art 12', 'art 13', 'art 14', 'art 16', 'art 18', 'art 19', 'art 20', 'art 21', 'art 22', 'art 2']

Part 2 Calculation of liability in respect of profits
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
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
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
14.Carried-back amounts
15.Carried-forward amounts
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
18.Profits charged at the small profits rate
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
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 partners
28.Associated companies: fixed-rate preference shares
29.Association through a loan creditor
30.Association through a trustee
31.Power to obtain information
32.Meaning of “augmented profits”
33.Interpretation of section 32(2) and (3)
34.Close investment-holding companies
Part 4 Loss relief
35.Overview of Part
Chapter 2 Trade losses
36.Introduction to Chapter
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
45.Carry forward of trade loss against subsequent trade profits
46.Use of trade-related interest and dividends if insufficient trade profits
47.Registered industrial and provident societies
48.Farming or market gardening
49.Reasonable expectation of profit
50.Cessation of trades
51.Companies treated as same person as individual
52.Dealings in commodity futures
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
55.Introduction to Chapter
56.Restriction on reliefs for limited partners
57.Meaning of “contribution to the firm”
58.Meaning of “limited partner”
59.Restriction on relief for members of LLPs
60.Meaning of “contribution to the LLP”
61.Unrelieved losses brought forward
Chapter 4 Property losses
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
66.Relief for losses made in overseas property business
67.Overseas property business to be commercial or carried on for statutory functions
Chapter 5 Losses on disposal of shares
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
73.Subscription for shares
74.Disposals of new shares
75.Limits on relief
76.Disposal of shares forming part of mixed holding
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
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
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
97.Introduction to Part
Chapter 2 Surrender of company’s losses etc for an accounting period
98.Overview of Chapter
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”
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
111.Overview of Chapter
112.EEA related definitions
113.Steps to determine extent to which loss etc can be surrendered
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
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
129.Overview of Chapter
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
135.Group relief claims on amounts surrenderable under Chapter 3
136.The EEA group condition
137.Deduction from total profits
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”
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
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
150.Overview of Chapter
151.Meaning of “75% subsidiary” and “90% subsidiary”
152.Groups of companies
153.Companies owned by consortiums and members of consortiums
154.Arrangements for transfer of member of group of companies etc
155.Arrangements for transfer of company owned by consortium etc
156.Sections 154 and 155: supplementary
Chapter 6 Equity holders and profits or assets available for distribution
157.Introduction to Chapter
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
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
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
183.Payments for group relief
184.References to “allowance” in CAA 2001
185.“Trading company” and “holding company”
186.When activities of a company are double taxation exempt
187.“Non-UK tax”
188.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
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
199.Payment attributed to earlier accounting period
200.Company wholly owned by a charity
201.Associated persons
202.“Charity”
Chapter 3 Certain disposals to charity
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
209.Value of net benefit to charity
210.Market value of qualifying investments
211.Meaning of “disposal-related obligation”
212.Meaning and amount of “disposal-related liability”
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
217.“Charity”
Part 7 Community investment tax relief
218.Meaning of “CITR”
219.Eligibility for CITR
220.Form and amount of CITR
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
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
240.Attribution: general
241.Attribution: bonus shares
Chapter 5 Withdrawal or reduction of CITR
242.Introduction to Chapter
243.Disposal of loan during 5 year period
244.Disposal of securities or shares during 5 year period
245.Repayment of loan capital during 5 year period
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
254.CITR subsequently found not to have been due
255.Manner of withdrawal or reduction of CITR
256.Meaning of “loan” and “interest”
257.Purchase and resale arrangements
258.Deposit arrangements
259.Profit share agency arrangements
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
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 8 Oil activities
270.Overview of Part
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 4 Calculation of profits
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
286.Restriction on debits to be brought into account
287.Restriction on credits to be brought into account
288.Sale and lease-back
289.Reduction of expenditure by reference to regional development grant
290.Adjustment as a result of regional development grant
291.Tariff receipts etc
292.Expenditure on and under 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)
296.Introduction to sections 297 and 298
297.Relief for expenditure incurred by a participator in meeting defaulter’s abandonment expenditure
298.Reimbursement by defaulter in respect of certain abandonment expenditure
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
302.Interest on repayment of PRT or APRT
303.Management expenses
304.Losses
305.Group relief
306.Capital allowances
Chapter 5 Ring fence expenditure supplement
307.Overview of Chapter
308.Qualifying companies
309.Accounting periods
310.The relevant percentage
311.Limit on number 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
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
319.The reference amount for a pre-commencement period
320.Claims for pre-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 utilised ring fence losses
328.Reductions in respect of unrelieved group ring fence profits
329.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
331.Meaning of “financing costs” etc
332.Assessment, recovery and postponement of supplementary charge
Chapter 7 Reduction of supplementary charge for certain new oil fields
333.Reduction of adjusted ring fence profits
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
337.Initial licensee to hold a field allowance
338.Holding a field allowance on acquisition of equity share
339.Unactivated amount of field allowance
340.Introduction to section 341
341.Activation of field allowance
342.Introduction to sections 343 and 344
343.Reference periods
344.Activation 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
348.Adjustments
349.Orders
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”
356.“Total field allowance for a new oil field”
357.Other definitions
Part 9 Leasing plant or machinery
358.Introduction to Part
Chapter 2 Long funding leases of plant or machinery
359.Overview of Chapter
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
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
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
377.Lessee under long funding finance lease: limit on deductions
378.Lessee under long funding finance lease: termination
379.Lessee under long funding operating lease
380.“Starting value” in section 379
381.Interpretation of Chapter
Chapter 3 Sales of lessors: leasing business carried on by a company alone
382.Introduction to Chapter
383.Income and matching expense in different accounting periods
384.Amount of income and expense
385.No carry back of the expense
386.Relief for expense otherwise giving rise to carried forward loss
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
392.“Qualifying change of ownership”
393.Qualifying 75% subsidiaries
394.Consortium relationships
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% or 90% subsidiary” etc
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
408.“Associated company”
Chapter 4 Sales of lessors: leasing business carried on by a company in partnership
409.Introduction to Chapter
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
425.Partner company’s income and matching expense in different accounting periods
426.Amount of income and expense
427.No carry back of the expense
428.Relief for expense otherwise giving rise to carried forward loss
429.The amount of the income
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
434.Introduction to sections 435 and 436
435.Disregard of increases and decreases in balance sheet 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
Part 10 Close companies
Chapter 1 Overview of Part
438.Overview of Part
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)
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
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
455.Charge to tax in case of loan to participator
456.Exceptions to the charge under section 455
457.Section 456: meaning of “material interest in a company”
458.Relief in case of repayment or release of loan
459.Loan treated as made to participator
460.Loan treated as made by close company
461.Exception to section 460
462.Determination of particular questions as a result of section 460
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
Chapter 4 Power to obtain information
465.Power to obtain information
Part 11 Charitable companies etc
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
471.Gifts qualifying for gift aid relief: income tax treated as paid
472.Gifts qualifying for gift aid relief: 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
475.Gifts qualifying for gift aid relief: income tax treated as paid and exemption
476.Gifts of money from companies: exemption
477.Gifts of money from companies: exemption
Chapter 3 Other 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
490.Eligible bodies
491.Scientific research associations
Chapter 4 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
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
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
511.Approved charitable investments
512.Securities which are approved charitable investments
513.Conditions to be met for some securities
514.Approved charitable loans
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
518.Introduction to Part
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
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
527.Being a UK REIT in relation to an accounting period
528.Conditions for company
529.Conditions as to property rental business
530.Condition as to distribution of profits
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
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
541.Ring-fencing of property rental business
542.Disapplication of certain provisions
543.Profit: financing-cost ratio
544.Meaning of “property profits” and “property financing costs”
545.Cancellation of tax advantage
546.Appeal against notice under section 545
547.Funds awaiting reinvestment
Chapter 6 Distributions
548.Distributions: liability to tax
549.Distributions: supplementary
550.Attribution of distributions
551.Tax consequences of distribution to holder of excessive rights
552.“The section 552 amount”
553.Meaning of “holder of excessive rights”
554.Regulations: distributions to holders of excessive rights
Chapter 7 Gains etc
555.Assets: change of use
556.Disposal of assets
557.Movement of assets into ring fence
558.Demergers: disposal of asset
559.Demergers: company leaving group UK REIT
560.Interpretation of Chapter
Chapter 8 Breach of conditions in Chapter 2
561.Notice of breach of relevant Chapter 2 condition
562.Breach of conditions C and D in section 528 (conditions for company)
563.Breach of conditions as to property rental business
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
570.Overview of Chapter
571.Termination by notice: group or company
572.Termination by notice: officer of Revenue and Customs
573.Notice under section 572: tax advantage
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
578.Automatic termination for breach of certain conditions in section 528
579.Effects of cessation: corporation tax
580.Effects of cessation: CAA 2001
581.Early exit by notice
582.Early exit
Chapter 10 Joint ventures
583.Overview of Chapter
584.Meaning of “joint venture company” and “joint venture group”
585.Meaning of “venturing group” and “venturing company”
586.Notice for Part to apply: joint venture company
587.Notice for Part to apply: joint venture group
588.Effect of notice under section 586
589.Effect of notice under section 587
590.Duration of notice under section 586 or 587
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
598.Chapter 10: supplementary
Chapter 11 Part 12: supplementary
599.Calculation of profits
600.Power to make regulations about cases involving related persons
601.Availability of group reliefs
602.Effect of deemed disposal and reacquisition
603.Regulations
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
610.Discretionary payments by trustees to companies
611.Income tax provisions to apply in relation to trustees’ expenses
Chapter 2 Authorised investment funds
613.Meaning of “open-ended investment company”
614.Applicable corporation tax rate
615.Umbrella companies
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
620.Court investment funds
Chapter 3 Unauthorised unit trusts
621.Treatment of income
622.Treatment of capital expenditure
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
626.Meaning of “final year”, “penultimate year” etc
627.Meaning of “rate of corporation tax” in case of companies with small profits
628.Company in liquidation: corporation tax rates
629.Company in liquidation: making of assessment to tax
630.Company in administration: corporation tax rates
631.Company in administration: making of assessment to tax
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
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”
661.Meaning of “eligible sport”, “qualifying purposes” etc
662.Exemption for UK trading income
663.Exemption for UK property income
664.Exemption for interest and gift aid income
665.Exemption for chargeable gains
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
669.Asset ceasing to be held for qualifying purposes etc
670.Notification of HMRC decision
671.Appeals
Part 14 Change in company ownership
672.Overview of Part
Chapter 2 Disallowance of trading losses
673.Introduction to Chapter
674.Disallowance of trading losses
675.Disallowance of trading losses: calculation of balancing charges
676.Disallowance of trading losses where company reconstruction without change in ownership
Chapter 3 Company with investment business: restrictions on relief: general provision
677.Introduction to Chapter
678.Notional split of accounting period in which change in ownership occurs
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
685.Apportionment of amounts
686.Meaning of certain expressions in section 685
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
692.Introduction to Chapter
693.Meaning of “amount of profits which represents a relevant gain”
694.Meaning of “the relevant provisions”
695.Notional split of accounting period in which change in ownership occurs
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
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 6 Recovery of unpaid corporation tax
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”
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”
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”
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”
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 5
722.When things other than ordinary share capital may be taken into account: Chapter 6
723.Changes in indirect ownership
724.Disregard of change in company ownership
725.Provision applying for the purposes of Chapters 2 to 5
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 15 Transactions in securities
731.Overview of Part
732.Meaning of “corporation tax advantage”
733.Company liable to counteraction of corporation tax advantage
734.Exception where no tax avoidance object shown
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
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
748.Application for clearance of transactions
749.Effect of clearance notification under section 748
750.Appeals against counteraction notices
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 2 Finance 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
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
767.Type 3 finance arrangement defined
768.Certain tax consequences not to have effect
769.Deemed loan relationship
770.Exceptions: preliminary
771.Exceptions
772.Exceptions: relevant person
773.Power to make further exceptions
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
Part 17 Manufactured payments and repos
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 from UK resident etc
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
796.Manufactured dividends: amounts exceeding underlying payments
797.Manufactured overseas dividends: amounts exceeding underlying payments
798.Manufactured overseas dividends less than underlying payments
799.Manufactured payments under arrangements with unallowable purpose
800.Arrangements with an unallowable purpose
801.Sections 799 and 800: supplementary
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
805.“Stock lending arrangement”
806.Section 805: supplementary
807.“Creditor repo”, “creditor quasi-repo”, “debtor repo” and “debtor quasi-repo”
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
812.Deemed manufactured payments: stock lending arrangements
Chapter 6 Interpretation of Part
813.The gross amount of a manufactured overseas dividend etc
814.Other interpretation
Part 18 Transactions in land
815.Introduction to Part
816.Meaning of disposing of land
817.Priority of other tax provisions
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
823.Transactions, arrangements, sales and realisations relevant for Part
824.Tracing value
825.Meaning of “another person”
826.Valuations and apportionments
827.Gain attributable to period before intention to develop formed
828.Disposals of shares in companies holding land as trading stock
829.Cases where consideration receivable by person not assessed
830.Certificates of tax paid etc
831.Clearance procedure
832.Power to obtain information
833.Interpretation of Part
Part 19 Sale and lease-back etc
Chapter 1 Payments connected with transferred land
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
838.Relevant corporation tax relief: deduction not to exceed commercial rent
839.Deduction under section 76 of ICTA not to exceed commercial rent
840.Carrying forward parts of payments
841.Aggregation and apportionment of payments
842.Payments made for later periods
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
849.Overview of Chapter
850.New lease after assignment or surrender
851.Taxation of consideration
852.Position where new lease does not include all original property
853.Relief for rent under new lease
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
859.Lease varied to provide for increased rent
860.Relevant corporation tax relief
861.Linked persons
862.Lease, lessee, lessor and rent
Chapter 3 Leased trading assets
863.Overview of Chapter
864.Leased trading assets
865.Tax deduction not to exceed commercial rent
866.Long funding finance leases
867.Commercial rent
868.Lease
869.Relevant asset
Chapter 4 Leased assets: capital sums
870.Overview of Chapter
871.Application of the Chapter
872.Payment under lease
873.Sum obtained
874.Charge to corporation tax
875.Hire-purchase agreements
876.Adjustments where sum obtained before payment made
877.Sum obtained in respect of interest
878.Sum obtained in respect of lessee’s interest
879.Disposal of interest to associate
880.Apportionment of payments made and of sums obtained
881.Manner of apportionment
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
Part 21 Leasing arrangements: finance leases and loans
895.Overview of Part
896.Normal rent
897.Accountancy rental earnings
898.Rental earnings
Chapter 2 Finance leases with return in capital form
899.Arrangements to which this Chapter applies
900.Purposes of this Chapter
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)
905.Current lessor taxed by reference to accountancy rental earnings
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
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
915.Effect of disposals of leases: general
916.Assignments on which neither a gain nor a loss accrues
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
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
925.Introduction to Chapter
926.Purpose of this Chapter
927.Leases to which this Chapter applies
928.Current lessor taxed by reference to accountancy rental earnings
929.Application of provisions of Chapter 2 for purposes of this Chapter
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 22 Miscellaneous provisions
Chapter 1 Transfers of trade without a change of ownership
938.Overview of Chapter
939.Meaning of “transfer of a trade” and related expressions
940.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
944.Modified application of Chapter 2 of Part 4
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
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
981.Exemption for trade unions and eligible employers’ associations
982.Qualifying income or gains
983.Meaning of “trade union” and “eligible employers’ association”
984.Local authorities and local authority associations
985.Health service bodies
986.Meaning of “health service body”
987.NHS foundation trusts
988.Issue departments of the Reserve Bank of India and the State Bank of Pakistan
989.Agricultural societies
Chapter 9 Other miscellaneous provisions
990.European Economic Interest Groupings
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
996.Use of different accounting practices within a group of companies
Part 23 Company distributions
997.Overview of Part
Chapter 2 Matters which are distributions
998.Overview of Chapter
999.Priority of negative rules
1000.Meaning of “distribution”
1001.Provisions related to paragraphs A to H in section 1000(1)
1002.Exceptions for certain transfers of assets or liabilities between a company and its members
1003.Redeemable share capital
1004.Securities issued otherwise than for new consideration
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
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”
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
1020.Transfers of assets or liabilities treated as distributions
1021.Section 1020: exceptions
1022.Bonus issue following repayment of share capital treated as distribution
1023.Exceptions to section 1022(3)
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
1028.Certain payments connected with exempt distributions
Chapter 3 Matters which are not distributions
1029.Overview of Chapter
1030.Distribution in respect of share capital in a winding up
1031.Distribution as part of a cross-border merger
1032.Interest etc paid in respect of certain securities
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
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
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
1054.Building society payments
1055.Industrial and provident societies: interest and share dividends
1056.Dividend or bonus relating to transactions
1057.UK agricultural or fishing co-operatives: interest and share dividends
1058.Meaning of “UK agricultural or fishing co-operative”
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
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
1070.Companies carrying on a mutual business
1071.Companies not carrying on a business
1072.Members of a 90% group
Chapter 5 Demergers
1073.Key terms etc
1074.Purpose of provisions about demergers
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”
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
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”
1091.Advance clearance of distributions
1092.Advance clearance of payments
1093.Requirements relating to applications for clearance
1094.Decision of the Commissioners or tribunal
1095.Exempt distributions: returns
1096.Chargeable payments etc: returns
1097.Information about person for whom a payment is received
1098.Meaning of “unquoted company”
1099.Other definitions etc
Chapter 6 Information and returns: further provisions
1100.Qualifying distributions: right to request a statement
1101.Non-qualifying distributions etc: returns and information
1102.Non-qualifying distributions etc: additional information
1103.Power to modify or replace sections 1101 and 1102
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
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
1141.Permanent establishments of companies
1142.Agent of independent status
1143.Preparatory or auxiliary activities
1144.Alternative finance arrangements
1145.The independent broker conditions
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”
1151.Lloyd’s agents
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.Conditions for 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
1174.Abbreviated references to Acts
1175.Claims and elections
1176.Meaning of “connected” persons and “control”
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
1.The Income and Corporation Taxes Act 1988 is amended as...
2.Omit section 6(4) (the charge to corporation tax and exclusion...
3.Omit section 7 (treatment of certain payments and repayment of...
4.Omit section 11(3) and (4) (companies not resident in the...
5.Omit sections 13 to 13A (small companies’ relief).
6.Omit section 14 (qualifying distributions).
7.(1) Omit section 24 (which has come to apply only...
8.Omit section 56(3)(c) (exemption for transactions in deposits).
9.(1) Amend section 76 (expenses of insurance companies) as follows....
10.In section 76ZK(8) (contributions to local enterprise organisations etc) for...
11.Omit section 116 (arrangements for transferring relief).
12.Omit sections 118 to 118ZD (restrictions on relief for losses...
13.In section 187(10) (interpretation of sections 185 and 186 etc)...
14.Omit Chapter 2 of Part 6 (matters which are distributions)....
15.Omit Chapter 3 of Part 6 (matters which are not...
16.Omit section 231 (tax credits for certain recipients of qualifying...
17.Omit section 231AA (no tax credit for borrower under stock...
18.Omit section 231AB (no tax credit for original owner under...
19.In section 231B(12) (consequences of certain arrangements to pass on...
20.Omit section 234 (information relating to distributions).
21.Omit section 234A (information relating to distributions: further provisions).
22.Omit Chapter 6 of Part 6 (miscellaneous and supplemental).
23.In section 337A (computation of company’s profits or income: exclusion...
24.Omit section 338 (charges on income deducted from total profits)....
25.Omit section 338A (meaning of “charges on income”).
26.Omit section 339 (charges on income: donations to charity).
27.Omit section 342 (tax on company in liquidation).
28.Omit section 342A (tax on companies in administration).
29.Omit section 343 (company reconstructions without a change of ownership)....
30.Omit section 343ZA (transfers of trade to obtain balancing allowances)....
31.Omit section 343A (company reconstructions involving business of leasing plant...
32.Omit section 344 (company reconstructions: supplemental).
33.In section 369(6) (mortgage interest payable under deduction of tax)...
34.Omit Chapter 2 of Part 10 (loss relief).
35.Omit section 397 (restriction of loss relief in case of...
36.In section 398 (transactions in deposits) for “section 396” substitute...
37.Omit section 399 (dealings in commodity futures).
38.Omit section 400 (write-off of government investment).
39.Omit Chapter 4 of Part 10 (group relief).
40.Omit Chapter 1 of Part 11 (close companies: interpretation).
41.Omit Chapter 2 of Part 11 (close companies: charges to...
42.In section 431G(4) (company carrying on life assurance business) for...
43.(1) Amend section 432A (apportionment of income and gains) as...
44.In section 432AB(5) (losses from UK property business or overseas...
45.In section 434(3A) (franked investment income etc)—
46.(1) Amend section 434A (computation of losses and limitation on...
47.In section 434AZA(1) (reduced loss relief for additions to non-profit...
48.(1) Amend section 436A (gross roll-up business: separate charge on...
49.(1) Amend section 440C (modifications for change of tax basis)...
50.(1) Amend section 444A (transfers of business) as follows.
51.In section 444AED(13) (clearance: no avoidance or group advantage) for...
52.Omit section 467 (exemption for trade unions and employers’ associations)....
53.Omit section 468 (authorised unit trusts).
54.Omit section 468A (open-ended investment companies).
55.Omit section 469 (other unit trusts).
56.Omit section 469A (court common investment funds).
57.Omit section 477A (building societies: loan relationships).
58.Omit section 486 (industrial and provident societies and co-operative associations)....
59.Omit section 488 (co-operative housing associations).
60.Omit section 489 (self-build societies).
61.Omit section 490 (companies carrying on a mutual business or...
62.Omit section 492 (treatment of oil extraction activities etc for...
63.(1) Omit section 493 (valuation of oil disposed of or...
64.Omit sections 494 to 494A (loan relationships etc, sale and...
65.(1) Omit section 495 (regional development grants).
66.(1) Omit section 496 (tariff receipts and tax-exempt tariffing receipts)....
67.Omit section 496B (ring fence expenditure supplement).
68.Omit sections 500 to 501B (deduction of PRT, interest on...
69.(1) Omit section 502 (interpretation of Chapter 5).
70.Omit Chapter 5A of Part 12 (special rules for long...
71.Omit section 503 (letting of furnished holiday accommodation).
72.Omit section 505 (charitable companies: general).
73.Omit section 506 (charitable and non-charitable expenditure).
74.Omit section 506A (transactions with substantial donors).
75.Omit section 506B (section 506A: exceptions).
76.Omit section 506C (sections 506A and 506B: supplemental).
77.Omit section 507 (the National Heritage Memorial Fund, the Historic...
78.Omit section 508 (scientific research organisations).
79.Omit section 510 (agricultural societies).
80.Omit section 510A (European Economic Interest Groupings).
81.Omit section 511(7) (the Gas Council).
82.Omit section 513 (British Airways Board and National Freight Corporation)....
83.Omit section 517 (issue departments of Reserve Bank of India...
84.Omit section 518 (harbour reorganisation schemes).
85.Omit section 519 (local authorities).
86.Omit section 519A (health service bodies).
87.In section 552A(11) (tax representatives) for “Section 839” substitute “Section...
88.Omit Chapter 5A of Part 13 (share loss relief).
89.Omit section 587B (gifts of shares, securities and real property...
90.Omit section 587BA (qualifying interests in land held jointly).
91.Omit section 587C (supplementary provision for gifts of real property)....
92.Omit section 687A (discretionary payments by trustees to companies).
93.Omit section 689B (order in which trustees’ expenses are to...
94.Omit Chapter 1 of Part 17 (cancellation of corporation tax...
95.Omit section 736A (manufactured dividends and interest).
96.Omit section 736B (deemed manufactured payments in the case of...
97.In section 749B(3) (interests in companies) for “Part VI” substitute...
98.In section 750(3)(c)(i) (territories with a lower level of taxation)...
99.In section 751(6)(b) (accounting periods and creditable tax) for “section...
100.In section 755D(10) (“control” and the two “40 per cent”...
101.(1) Amend section 756 (interpretation and construction of Chapter 4)...
102.Omit sections 767A to 769 (change in ownership of company)....
103.In section 774(4)(e) (transactions between dealing company and associated company)...
104.(1) Omit sections 774A to 774G (factoring of income receipts...
105.Omit sections 776 to 778 (transactions in land).
106.(1) Omit sections 779 to 785 (sale and lease-back etc)....
107.Omit section 785ZA (restrictions on use of losses: leasing partnerships)....
108.Omit section 785ZB (section 785ZA: definitions).
109.Omit section 785B (plant and machinery leases: capital receipts to...
110.Omit section 785C (section 785B: interpretation).
111.Omit section 785D (section 785B: lease of plant and machinery...
112.Omit section 785E (section 785B: expectation that relevant capital payment...
113.(1) Omit section 786 (transactions associated with loans or credit)....
114.In section 806A(2) (eligible unrelieved foreign tax dividends: introductory)—
115.Omit section 808 (restriction on deduction of interest or dividends...
116.In section 812(5) (withdrawal of right to tax credit of...
117.(1) Amend section 826 (interest on tax overpaid) as follows....
118.(1) Amend section 828 (orders and regulations made by the...
119.Omit section 830(1) (territorial sea of the United Kingdom).
120.In section 831(3) (interpretation of ICTA) at the appropriate place...
121.Omit section 832 (interpretation of the Corporation Tax Acts).
122.Omit section 834 (interpretation of the Corporation Tax Acts).
123.Omit section 834A (miscellaneous charges).
124.Omit section 834B (meaning of “UK property business” and “overseas...
125.Omit section 834C (total profits).
126.Omit section 837A (meaning of “research and development”).
127.Omit section 837B (meaning of “oil and gas exploration and...
128.Omit section 837C (meaning of “offshore installation”).
129.Omit section 838 (subsidiaries).
130.Omit section 839 (connected persons).
131.Omit section 840 (meaning of “control” in certain contexts).
132.Omit section 840ZA (meaning of “tax advantage”).
133.Omit section 840A (banks).
134.Omit section 841 (meaning of “recognised stock exchange” etc).
135.Omit section 842 (investment trusts).
136.Omit section 842A (local authorities).
137.Omit section 842B (meaning of “property investment LLP”).
138.In paragraph 5(2) of Schedule 10 (further provisions relating to...
139.Omit Schedule 17 (dual resident investing companies).
140.Omit Schedule 18 (group relief: equity holders and profits or...
141.Omit Schedule 18A (group relief: overseas losses of non-resident companies)....
142.(1) Amend Schedule 19B (petroleum extraction activities: exploration expenditure supplement)...
143.Omit Schedule 19C (petroleum extraction activities: ring fence expenditure supplement)....
144.Omit Schedule 20 (charitable companies: qualifying investments and loans).
145.Omit Schedule 23A (manufactured dividends and interest).
146.(1) Amend Schedule 24 (assumptions for calculating chargeable profits etc)...
147.(1) Amend Schedule 25 (cases where section 747(3) of ICTA...
148.(1) Amend Schedule 26 (reliefs against liability for tax in...
149.Omit Schedule 28A (change in ownership of company with investment...
150.Finance Act 1930
151.Finance Act (Northern Ireland) 1954 (c. 23(N.I.))
152.Taxes Management Act 1970
153.In section 12AB(5) (partnership return to include partnership statement), in...
154.In section 12B(4A) (records to be kept for purposes of...
155.In section 59E(11) (further provision as to when corporation tax...
156.(1) Amend section 87A (interest on overdue corporation tax etc)...
157.(1) Amend section 98 (special returns etc) as follows.
158.(1) Amend section 109 (corporation tax on close companies in...
159.In section 118(1) (interpretation)— (a) in the definition of “company”...
160.Oil Taxation Act 1975
161.(1) Amend section 3 (allowance of expenditure) as follows.
162.(1) Amend section 5 (allowance of abortive exploration expenditure) as...
163.In section 6(4)(b) (allowance of unrelievable loss from abandoned field)...
164.In section 21(2) (citation etc)— (a) at the appropriate place...
165.(1) Amend Schedule 3 (petroleum revenue tax: miscellaneous provisions) as...
166.(1) Amend Schedule 4 (provisions supplementary to sections 3 and...
167.In Schedule 5 (allowance of expenditure) in paragraph 2B(2) for...
168.Solicitors (Northern Ireland) Order 1976 (S.I. 1976/582 (N.I. 12))
169.Alcoholic Liquor Duties Act 1979
170.Finance Act 1980
171.In section 107(7) (transmedian fields) after “meaning of” insert “Part...
172.(1) Amend Schedule 17 (transfers of interests in oil fields)...
173.Betting and Gaming Duties Act 1981
174.In section 20(6)(a) (expenditure on bingo winnings) for “section 839...
175.In section 21(7) (gaming machine licences) for “Section 839 of...
176.Finance Act 1982
177.In section 134(1) (alternative valuation of ethane used for petrochemical...
178.(1) In Schedule 19 (supplementary provisions relating to APRT) omit...
179.Finance Act 1983
180.Oil Taxation Act 1983
181.In section 6(4A)(b) (amounts which are not chargeable tariff receipts)...
182.In section 15(4) (interpretation etc) for “Section 839 of the...
183.In paragraph 8(2B)(b) of Schedule 1 (allowable expenditure: use of...
184.(1) Amend Schedule 2 (supplemental provisions as to receipts from...
185.Finance Act 1984
186.In section 113(8) (restriction on PRT reliefs) for “section 838...
187.(1) Amend section 115 (information relating to sales at arm’s...
188.Inheritance Tax Act 1984
189.(1) Amend section 23 (gifts to charities) as follows.
190.In section 96 (preference shares disregarded) for “section 210(4) of...
191.In section 102(1) (interpretation), in the definition of “participator”, for...
192.In Schedule 3, in the entry for “health service body”,...
193.Police and Criminal Evidence Act 1984
194.Administration of Justice Act 1985 (c. 61)
195.Finance Act 1986
196.In section 76(6A) (acquisitions: further provisions about reliefs) for “section...
197.In section 80B(1) (intermediaries: supplementary) for “section 839 of the...
198.In section 80D(2)(a) (repurchasers and stock lending: replacement stock on...
199.In section 88B(1) (intermediaries: supplementary) for “section 839 of the...
200.In section 89AB(2)(a) (section 87: exception for repurchasers and stock...
201.In section 90(9)(b) (section 87: other exceptions) for “section 416...
202.Gas Act 1986
203.Finance Act 1987
204.In Schedule 13 (relief for research expenditure) in paragraph 11(2)...
205.In Schedule 14 (cross-field allowance) in paragraph 10(2) for “section...
206.Local Government Finance Act 1988
207.In section 43(6)(b) (occupied hereditaments: liability) for “Schedule 18 to...
208.In section 47(2)(ba) (discretionary relief) for “Schedule 18 to the...
209.In section 67(10A) (interpretation: other provisions)— (a) for “Schedule 18...
210.In paragraph 7(9) of Schedule 5 (non-domestic rating: exemption) for...
211.Housing Act 1988
212.Finance Act 1989
213.In section 85A(4) (excess adjusted life assurance trade profits) for...
214.In section 88(4) (corporation tax: policy holders’ fraction of profits)...
215.Omit section 102 (surrender of tax refund etc within group)....
216.In paragraph 16(2) of Schedule 5 (employee share ownership trusts)—...
217.In Schedule 12 (close companies) omit paragraphs 1, 3 and...
218.Electricity Act 1989
219.Police and Criminal Evidence (Northern Ireland) Order 1989 (S.I. 1989/1341 (N.I. 12))
220.Finance Act 1990
221.Finance Act 1991
222.(1) Omit sections 62 to 65 (abandonment guarantees and abandonment...
223.In section 104(3) (abandonment guarantees) for “section 839 of the...
224.In section 112(7)(b) (apportionment of consideration for stamp duty purposes)...
225.Taxation of Chargeable Gains Act 1992
226.In section 8(1) (company’s total profits to include chargeable gains)...
227.In section 13(12) (attribution of gains to members of non-resident...
228.In section 37 (consideration chargeable to tax on income) after...
229.In section 39 (exclusion of expenditure by reference to tax...
230.In section 96(10) (payments by and to companies)—
231.In section 117(1) (meaning of qualifying corporate bond) for the...
232.In section 125(6) (shares in close company transferring assets at...
233.In section 125A(1) (effect of share loss relief)—
234.In section 135(4) (exchange of securities for those in another...
235.In section 140L(1)(c)(i) (interpretation) for “section 832 of the Taxes...
236.In section 151BA (CITR: identification of securities of shares on...
237.In section 151BB (CITR: rights issues etc) in subsection (5)(b)...
238.In section 151C(5) (strips) for “section 840ZA of the Taxes...
239.In section 151D(5) (corporate strips) for “section 840ZA of the...
240.In section 161 (appropriations to and from stock) after subsection...
241.In section 165A(14) (meaning of “holding company” etc), in the...
242.(1) Amend section 170 (interpretation) as follows.
243.In section 171(2)(da) (transfers within a group: general provisions) for...
244.(1) Amend section 179 (company ceasing to be a member...
245.In section 184H(5)(b) (meaning of excluded arrangements) for “section 779(1)...
246.In section 190(13) (tax recoverable from another group company or...
247.(1) Amend section 192 (tax exempt distributions) as follows.
248.In section 198(5)(b) (replacement of business assets used in connection...
249.In section 212(1)(c) (annual deemed disposal of holdings of unit...
250.After section 217C insert— Industrial and provident societies and co-operatives...
251.In section 221(2) (harbour authorities) for “within the meaning of...
252.In section 228 (conditions for relief: supplementary) for subsection (10)...
253.In section 239(7) (employee trusts) for “in section 417(1) of...
254.(1) Amend section 256 (charities) as follows.
255.In the title to section 256A (attributing gains to the...
256.In the title to section 256B (how gains are attributed...
257.After section 256B insert— Attributing gains to the non-exempt amount:...
258.(1) Amend section 257 (gifts to charities etc) as follows....
259.In section 263B(7) (stock lending arrangements), in the definition of...
260.In section 263E(1)(a) (structured finance arrangements) before “(disregard” insert “or...
261.(1) Amend section 271 (other miscellaneous exemptions) as follows.
262.In section 276(2)(d) (the territorial sea and the continental shelf)...
263.In section 286(3A)(b) (connected persons: interpretation) for “section 840 of...
264.(1) Amend section 288 (interpretation) as follows.
265.In paragraph 7(3)(a) of Schedule 3 (assets held on 31...
266.(1) Amend Schedule 5 (attribution of gains to settlors with...
267.(1) Amend Schedule 5AA (meaning of “scheme of reconstruction”) as...
268.In paragraph 19(1) of Schedule 5B (interpretation)—
269.(1) Amend Schedule 7AC (exemptions for disposals by companies with...
270.Finance (No.2) Act 1992(c. 48)
271.Electricity (Northern Ireland) Order 1992 (S.I. 1992/231 (N.I. 1))
272.Housing (Northern Ireland) Order 1992 (S.I. 1992/1725 (N.I. 15))
273.Charities Act 1993
274.(1) Amend section 10 (disclosure of information to Commission) as...
275.(1) Amend section 25A (meaning of “Scottish recognised body” and...
276.Finance Act 1993
277.Omit sections 92 to 92E (which set out rules about...
278.In section 193(6) (tariff receipts) for “section 839 of the...
279.In paragraph 5(1) of Schedule 20A (interpretation) in the definition...
280.Finance Act 1994
281.In section 52A(8) (certain fees to be treated as premiums...
282.In section 219(4B) (Lloyd’s underwriters: corporations etc: taxation of profits)...
283.In section 227A(5) (restriction of group relief) for “section 402(2)...
284.In Schedule 6A (premiums liable to tax at the higher...
285.Value Added Tax Act 1994
286.Finance Act 1995
287.(1) Amend section 151 (lease or tack: associated bodies) as...
288.(1) Amend section 152 (open-ended investment companies) as follows.
289.In section 154(1) (short rotation coppice) omit the words “the...
290.In paragraph 17(6)(a) of Schedule 22 (interpretation) for “section 416...
291.Finance Act 1996
292.Omit section 175 (transactions in securities).
293.In paragraph 11(2D) of Schedule 15 (other adjustments in case...
294.Broadcasting Act 1996
295.Gas (Northern Ireland) Order 1996 (S.I. 1996/275 (N.I. 2))
296.Finance Act 1997 (c. 16)
297.Finance Act 1998
298.Petroleum Act 1998
299.Regional Development Agencies Act 1998
300.Finance Act 1999
301.In section 97 (supplementary provisions) in subsection (2)(a) for “section...
302.In section 98(7) (qualifying assets) after paragraph (a) insert—
303.Commonwealth Development Corporation Act 1999
304.Greater London Authority Act 1999
305.In section 157(4) (restriction on exercise of certain powers except...
306.In section 419(2) (taxation: certain bodies treated as a local...
307.(1) Amend paragraph 13 of Schedule 33 (taxation provisions: public-private...
308.Finance Act 2000
309.Omit section 46 (exemption for small trades etc).
310.Omit section 98 (recovery of tax payable by non-resident company)....
311.In section 119(9) (transfer of land to connected company) for...
312.In section 120(7) (exceptions) for “section 839(3) of the Taxes...
313.In section 121(8) (grant of lease to connected company) for...
314.(1) Amend Schedule 6 (climate change levy) as follows.
315.(1) Amend Schedule 15 (the corporate venturing scheme) as follows....
316.(1) Amend Schedule 22 (tonnage tax) as follows.
317.Omit Schedule 28 (recovery of tax payable by non-resident company)....
318.In Schedule 34 (supplementary provisions) in paragraph 3(4)(b) for “section...
319.Trustee Act 2000
320.Transport Act 2000
321.(1) Amend Schedule 7 (transfer schemes: tax) as follows.
322.(1) Amend Schedule 26 (transfers: tax) as follows.
323.Capital Allowances Act 2001
324.In section 38B (general exclusions applying to section 38A) in...
325.In section 45F(3) (expenditure on plant and machinery for use...
326.In section 56(1A) (amount of allowances and charges) for “section...
327.In section 60(1)(c) (meaning of “disposal receipt”) after “or” insert...
328.In section 63(2) (cases in which disposal value is nil)—...
329.In section 70E(2B) (disposal events and disposal values)—
330.In section 70H(1) (lessee: requirement for tax return treating lease...
331.In section 70V(4) (tax avoidance involving international leasing) for “section...
332.In section 99 (the monetary limit) for subsection (5) substitute—...
333.In section 104F(10) (special rate cars: discontinued activity continued by...
334.In section 108(1)(b)(i) (effect of disposal to connected person on...
335.In section 112(1)(b)(i) (excess allowances: connected persons) for “section 343(1)...
336.In section 115(1)(c)(i) (prohibited allowances: connected persons) for “section 343(1)...
337.In section 131(7) (effect of postponement)— (a) for “section 403ZB(2)...
338.In section 138(2)(b) (limit on amount deferred) for “section 393...
339.In section 154(3)(b)(ii) (further registration requirement) for “section 343(2) of...
340.In section 155(1)(b)(ii) (change in persons carrying on qualifying activity)...
341.In section 156(2)(b) (connected persons) for “section 343(2) of ICTA”...
342.In section 158 (members of same group) for “Chapter IV...
343.In section 162(2) (ring fence trade a separate qualifying activity)—...
344.(1) Amend section 220 (allocation of expenditure to a chargeable...
345.In section 228H(1A)(b) (sections 228A to 228G: supplementary) for “section...
346.In section 228M(2) (other definitions for the purposes of s.228K)—...
347.In section 249(2) (furnished holiday lettings business) for “Section 503...
348.In section 253(7) (companies with investment business) for “sections 768B(8)...
349.In section 260(7) (special leasing: corporation tax (excess allowance)) in...
350.In section 261 (special leasing: life assurance business) in paragraph...
351.In section 261A(3) (special leasing: leasing partnerships)—
352.In section 267A(3) (restriction on effect of election)—
353.In section 355(6) (buildings for miners etc: carry-back of balancing...
354.In section 362(2) (meaning of “husbandry”) for “section 154(3) of...
355.In section 416B(5) (expenditure incurred by company for purposes of...
356.In section 420(b) (meaning of “disposal receipt”) after “or” insert...
357.In section 476(1)(b) (disposal value of patent rights) after “or”...
358.In section 505(1) (qualifying dwelling-houses: exclusions), in paragraph (a) of...
359.After section 560 insert— Transfers of trade without a change...
360.In section 561(5) (transfer of division of UK business) for...
361.In section 561A(2) (transfer of asset by reason of cross-border...
362.In section 575A(1) (section 575: supplementary) in the definition of...
363.In section 577(1) (other definitions), in the definition of “dual...
364.(1) Amend Schedule A1 (first-year tax credits) as follows.
365.(1) Amend Schedule 1 (abbreviations and defined expressions) as follows....
366.Finance Act 2001
367.Trustee Act (Northern Ireland) 2001 (c. 14 (N.I.))
368.Finance Act 2002
369.Omit section 57(1) (community investment tax relief).
370.Omit section 58 (relief for community amateur sports clubs).
371.In section 63(2)(a) (first year allowances for expenditure wholly for...
372.In section 113(4)(b) (stamp duty: withdrawal of relief for company...
373.Omit Schedule 16 (community investment tax relief).
374.Omit Schedule 18 (relief for community amateur sports clubs).
375.In paragraph 8(4) of Schedule 34 (stamp duty: recovery of...
376.In Schedule 35 (stamp duty: withdrawal of relief for company...
377.In Schedule 37 (supplementary provisions) in paragraph 2(4)(b) for “section...
378.Income Tax (Earnings and Pensions) Act 2003
379.In section 24(6)(b) (limit on chargeable overseas earnings where duties...
380.In section 51(5) (conditions of liability where intermediary is a...
381.In section 60(1)(a) (meaning of associate) for “section 417(3) and...
382.In section 61(1) (interpretation) in the definition of “associated company”...
383.(1) Amend section 68 (meaning of “material interest” in a...
384.In section 230(4)(c) (the approved amount for mileage allowance payments)...
385.In section 357(2) (business entertainment and gifts: exception where employer’s...
386.In section 421H(2) (meaning of “employee-controlled” etc) for “same meaning...
387.In section 446A(3)(b) (application of Chapter) for “section 402(6) of...
388.In section 446K(3)(b) (application of Chapter) for “section 402(6) of...
389.In section 459(3) (transfer of intellectual property by controlled company)...
390.In section 479(9)(b) (amount of gain realised on occurrence of...
391.In section 493(3) (no charge on acquisition of dividend shares)...
392.In section 538(4) (share conversions excluded for the purposes of...
393.In section 549(4)(a) (application of Chapter) for “same meaning as...
394.In section 714(2) (meaning of “donations”), in the definition of...
395.(1) Amend Schedule 1 (abbreviations and defined expressions) as follows....
396.(1) Amend Schedule 2 (approved share incentive plans) as follows....
397.(1) Amend Schedule 3 (approved SAYE option schemes) as follows....
398.(1) Amend Schedule 4 (approved CSOP schemes) as follows.
399.(1) Amend Schedule 5 (enterprise management incentives) as follows.
400.Finance Act 2003
401.In section 44(11) (contract and conveyance) for “Section 839 of...
402.In section 45(6) (contract and conveyance: effect of transfer of...
403.In section 45A(10) (contract providing for conveyance to third party:...
404.In section 53(2) (deemed market value where transaction involves connected...
405.In section 54(3)(b) (exceptions from deemed market value rule) for...
406.In section 73AB(4) (sections 71A to 72A: arrangements to transfer...
407.In section 75A(5)(b) (anti-avoidance) for “section 839 of the Taxes...
408.In section 101(6) (unit trust schemes) for “Section 469A of...
409.In section 108(1) (linked transactions) for “Section 839 of the...
410.Omit section 148 (meaning of “permanent establishment”).
411.Omit section 150 (non-resident companies: assessment, collection and recovery of...
412.Omit section 152 (non-resident companies: transactions carried out through broker,...
413.(1) Amend section 195 (companies acquiring their own shares) as...
414.In Schedule 4 (stamp duty land tax: chargeable consideration) in...
415.In Schedule 6A (relief for certain acquisitions of residential property)...
416.(1) Amend Schedule 7 (stamp duty land tax: group relief...
417.(1) Amend Schedule 9 (stamp duty land tax: right to...
418.(1) Amend Schedule 15 (stamp duty land tax: partnerships) as...
419.In Schedule 17A (further provisions relating to leases) in paragraph...
420.In Schedule 20 (stamp duty: restriction to instruments relating to...
421.Omit Schedule 26 (non-resident companies: transactions through broker, investment manager...
422.Housing (Northern Ireland) Order 2003 (S.I. 2003/412 (N.I. 2))
423.Finance Act 2004
424.Omit section 50 (generally accepted accounting practice).
425.Omit section 51 (use of different accounting practices within a...
426.In section 59(4) (contractors) for “section 343 of the Taxes...
427.Omit section 83 (giving through the self-assessment return).
428.In section 273(9) (members liable as scheme administrator) for “section...
429.In section 307(2)(b) (meaning of “promoter”)— (a) for “section 840A...
430.In paragraph 4(2) of Schedule 11 (the compliance test) for...
431.(1) Amend Schedule 29A (taxable property held by investment-regulated pension...
432.(1) Amend Schedule 36 (pension schemes: transitional provision and savings)...
433.Energy Act 2004
434.(1) Amend section 27 (tax exemption for NDA activities) as...
435.(1) Amend section 28 (taxation of activities of the Nuclear...
436.In section 44(2) (extinguishment of BNFL losses for tax purposes)—...
437.In paragraph 3 of Schedule 4 (supplemental taxation provisions for...
438.(1) Amend Schedule 9 (taxation provisions relating to nuclear transfer...
439.Companies (Audit, Investigations and Community Enterprise) Act 2004
440.Scotland Act 1998 (Transfer of Functions to the Scottish Ministers etc) Order 2004 (S.I. 2004/2030)
441.Omit article 3 (transfer of functions to the Scottish Ministers)....
442.Omit article 5 (modification of ICTA).
443.In article 6 (general modifications of enactments etc)—
444.Income Tax (Trading and Other Income) Act 2005
445.In section 100(4) (meaning of sale and lease-back arrangement) for...
446.In section 108(3) (gifts of trading stock to charities etc)...
447.For section 148D (lessor under long funding operating lease: periodic...
448.After section 148D insert— Starting value”: general (1) This section is about the meaning of “starting value”...
449.For section 148E substitute— Long funding operating lease: lessor’s additional...
450.After section 148E insert— Determination of remaining residual value resulting...
451.For section 148F substitute— Lessor under long funding operating lease:...
452.In section 375(1) (interpretation of sections 373 and 374) for...
453.In section 388(1) (interpretation of sections 386 and 387) for...
454.In section 389(5) (authorised unit trust dividend distributions) for “section...
455.In section 401(7) (relief: qualifying distributions after linked non-qualifying distribution)...
456.In Chapter 3 of Part 4 after section 401 insert—...
457.After section 401A insert— Power to obtain information (1) An officer of Revenue and Customs may, for the...
458.(1) Amend section 410 as follows. (2) For subsection (1)...
459.After section 410 insert— Conversion etc of bonus share capital...
460.(1) Amend section 412 (cash equivalent of share capital) as...
461.After section 414 insert— Interpretation of Chapter (1) In this Chapter “bonus share capital” means—
462.(1) Amend section 415 (charge to tax under Chapter 6)...
463.In section 419(1)(b) (loans and advances to people who die)...
464.In section 420(1)(b) (loans and advances to trustees of settlements...
465.After section 421 insert— Power to obtain information (1) An officer of Revenue and Customs may, for the...
466.(1) Amend section 456 (securities issued to connected persons etc...
467.In section 460(2) (minor definitions) for “section 840ZA of ICTA”...
468.In section 482(7) (conditions in relation to excepted group life...
469.In section 520(4) (the property categories) for “section 842 of...
470.In section 643(4) (interpretation) for “section 416 of ICTA” substitute...
471.(1) Amend Schedule 2 (transitionals and savings) as follows.
472.(1) Amend Schedule 4 (abbreviations and defined expressions) as follows....
473.Finance Act 2005
474.(1) In section 48B(5) (alternative finance arrangements: alternative finance investment...
475.(1) Omit section 54A (treatment of section 47, 49 and...
476.Omit section 84 (taxation of securitisation companies).
477.In section 102(7)(b) (Pension Protection Fund etc) for “section 832(1)...
478.Railways Act 2005
479.Finance (No. 2) Act 2005 (c. 22)
480.Finance Act 2006
481.Omit section 82 (sale etc of lessor companies etc).
482.In section 83(6)(a) (restrictions on use of losses etc: leasing...
483.In Part 4 (Real Estate Investment Trusts) omit—
484.Omit Schedule 10 (sale etc of lessor companies etc).
485.Omit Schedule 16 (Real Estate Investment Trusts: excluded business and...
486.Omit Schedule 17 (group Real Estate Investment Trusts: modifications).
487.Companies Act 2006
488.In section 141(4)(a) (subsidiary acting as authorised dealer in securities)...
489.In section 834(5) (investment company: condition as to holdings in...
490.In section 1278(1)(c) (institutions to which information provisions apply) for...
491.Charities Act 2006 (c. 50)
492.In section 5(5) (special provisions about recreational charities, sports clubs...
493.In section 72(3) (disclosure of information to and by Northern...
494.Income Tax Act 2007
495.In section 69(7) (whether trade is same trade) for “has...
496.In section 136(2) (disposals of new shares) for “one of...
497.In section 139(4) (the control and independence requirement) in the...
498.(1) Amend section 151 (interpretation of Chapter) as follows.
499.In section 170 (persons interested in capital etc of company)—...
500.In section 190 (meaning of “qualifying 90% subsidiary”)—
501.In section 199(3)(c) (excluded activities: provision of services or facilities...
502.In section 232(4)(a) (acquisition of a trade or trading assets)—...
503.In section 257 (minor definitions)— (a) in subsection (1) in...
504.In section 301 (meaning of “qualifying 90% subsidiary”)—
505.In section 310(3)(c) (excluded activities: provision of services or facilities...
506.In section 313 (interpretation)— (a) in subsection (4) for “section...
507.In section 332 (minor definitions etc) in the definition of...
508.In section 340 (application and criteria for accreditation) after subsection...
509.In section 341 (terms and conditions of accreditation) after subsection...
510.In section 346 (conditions to be met in relation to...
511.(1) Amend section 348 (CITR: tax relief certificates) as follows....
512.In section 355 (securities or shares: no claim after disposal...
513.(1) Amend section 356 (no claim after loss of accreditation...
514.(1) Amend section 361 (disposal of securities or shares during...
515.In section 363 (value received by investor during 6 year...
516.In section 364 (value received by investor during 6 year...
517.In section 365 (receipts of insignificant value to be added...
518.In section 368 (value received if more than one investment)...
519.In section 369 (effect of receipt of value on future...
520.In section 373 (information to be provided by the investor)...
521.In section 392(4) (loan to buy interest in close company)—...
522.In section 394(5) (meaning of “material interest” in section 393)—...
523.In section 395(6) (meaning of “associate” in section 394) in...
524.In section 413(5) (overview of Chapter) for the words from...
525.In section 426(7) (election by donor: gift treated as made...
526.In section 430(1)(d) (“charity” to include exempted bodies) for “Schedule...
527.In section 432(2) (meaning of “qualifying investment”), in the definition...
528.In section 442(7)(b) (qualifying interests in land held jointly) for...
529.In section 443(5) (calculation of relievable amount where joint disposal...
530.In section 527(2)(a) for “section 214 of ICTA” substitute “section...
531.In section 531(2A) (exemption for property income etc) for “section...
532.(1) Amend section 550 (meaning of “relievable gift”) as follows....
533.In section 553(3)(b) (section 551: certain payments and benefits to...
534.In section 554(5)(a) (transactions: exceptions) for “section 587B of ICTA”...
535.In section 555(1) (donors: exceptions) for “of section 339(7AB) of...
536.In section 559(3) (securities which are approved charitable investments), in...
537.In section 576 (manufactured dividends on UK shares: Real Estate...
538.(1) Amend section 577 (statements about manufactured dividends) as follows....
539.In section 591(1) (interpretation of other terms used in Chapter)—...
540.In section 597(1)(d) (deemed interest: cash collateral under stock lending...
541.(1) Amend section 602 (deemed manufactured payments: repos) as follows....
542.(1) Amend section 603 (deemed deductions of tax) as follows....
543.(1) Amend section 604 (deemed increase in repurchase price: price...
544.In section 606 (interpretation of Chapter)— (a) for subsection (2)...
545.In section 690(8) (receipt of assets of relevant company (circumstance...
546.In section 691(4) (meaning of “relevant company” in sections 689...
547.In section 772(1) (interpretation of Chapter) for “section 776 of...
548.In section 809ZA (plant and machinery leases: capital receipts to...
549.Omit section 809ZB (section 809ZA: interpretation).
550.In section 809ZC(1) (section 809ZA: lease of plant and machinery...
551.After section 809ZD insert— Capital payment”, “relevant capital payment” etc...
552.In section 809M(3) (meaning of “relevant person”)—
553.In section 836(3) (jointly held property) for “section 254 of...
554.In section 899(5) (meaning of “qualifying annual payment”) for paragraph...
555.In section 918 (manufactured dividends on UK shares: Real Estate...
556.(1) Amend section 928 (chargeable payments connected with exempt distributions)...
557.In section 936(2) (recipients who are to be paid gross)—...
558.In section 953(6) (how a set-off claim works)—
559.In section 972(6) (regulations under section 971) for “section 121(2)(c)...
560.(1) Amend section 973 (income tax due in respect of...
561.(1) Amend section 974 (regulations under section 973) as follows....
562.(1) Amend section 989 (definitions) as follows.
563.In section 991 (meaning of “bank”) after subsection (4) insert—...
564.In section 992(2) (meaning of “company”) for “section 468 of...
565.In section 994(1) (meaning of “connected” person: supplementary) in the...
566.In section 997(5) (meaning of “international accounting standards”) for “section...
567.(1) Amend section 999 (meaning of “local authority”) as follows....
568.In section 1000 (meaning of “local authority association”) for subsections...
569.In section 1016(2) (table of provisions to which that section...
570.In section 1017 (abbreviated references to Acts) at the appropriate...
571.(1) Amend Schedule 2 (transitional and savings) as follows.
572.In Schedule 4 (index of defined expressions)—
573.Finance Act 2007
574.Omit section 3 (small companies’ rates and fractions for financial...
575.In paragraph 5(4)(b) of Schedule 24 (potential lost revenue: normal...
576.Finance Act 2008
577.In section 6(3) (charge and main rates for financial year...
578.Omit section 7 (small companies’ rates and fractions for financial...
579.In section 165(1) (interpretation) at the appropriate place insert— “CTA...
580.(1) Amend Schedule 19 (reduction of basic rate of income...
581.(1) Amend Schedule 20 (leases of plant or machinery) as...
582.(1) Amend Schedule 36 (information and inspection powers) as follows....
583.In paragraph 7(4) of Schedule 41 (potential lost revenue)—
584.Crossrail Act 2008 (c. 18)
585.Charities Act (Northern Ireland) 2008 (c. 12 (N.I.))
586.In section 5(4) for the words from “a club” to...
587.(1) Amend section 45 as follows. (2) In subsection (1)—...
588.Transfer of Housing Corporation Functions (Modifications and Transitional Provisions) Order 2008 (S.I. 2008/2839)
589.Corporation Tax Act 2009 (c. 4)
590.In section 20(3) (profits attributable to permanent establishment: introduction) for...
591.In section 25(3) (non-UK resident banks: introduction) for “section 840A...
592.In section 39(3) (profits of mines, quarries and other concerns)...
593.In section 57 (car hire: supplementary)— (a) in subsection (2)(a)...
594.In section 87(5) (expenses of research and development) for “section...
595.In section 88(1)(a) (payments to research associations, universities etc)—
596.In section 97(4) (meaning of sale and lease-back arrangement) for...
597.(1) Amend section 105 (gifts of trading stock to charities...
598.In section 132(5) (dividends etc granted by industrial and provident...
599.In section 168 (connected persons) in paragraph (a) for “section...
600.After section 221 insert— Sums to which sections 217 to...
601.In section 260(3) (mutual business) for “section 488 of ICTA”...
602.In section 264(2) (overview of Chapter) for paragraph (a) substitute—...
603.In section 269(2)(b) (capital allowances and loss relief) for “Chapter...
604.In section 297(5)(c) (trading credits and debits to be brought...
605.In section 326(3) (writing off government investments)—
606.In section 345(1)(b) (transferee leaving group otherwise than because of...
607.In section 346(1) (transferee leaving group because of exempt distribution)—...
608.In section 364(5) (introduction to Chapter) for “section 403C of...
609.(1) Amend section 371 (interpretation) as follows.
610.(1) Amend section 376 (interpretation of section 375) as follows....
611.In section 383(8) (lending between partners and the partnership) for...
612.(1) Amend section 390 (meaning of available profits) as follows....
613.In section 410(5) (exception to section 409) in the definition...
614.In section 411(3) (interpretation of section 409)—
615.In section 419(6) (section 418: supplementary) for “section 839 of...
616.(1) Amend section 443 (restriction of relief for interest where...
617.In section 448(1)(c) (exchange gains and losses on debtor relationships:...
618.(1) Amend section 457 (basic rule for deficits: carry forward...
619.In section 459(2) (claim to set off deficit against profits...
620.(1) Amend section 461 (claim to set off deficit against...
621.In section 463(5) (profits available for relief under section 462)—...
622.In section 464(3) (priority of Part for corporation tax purposes)—...
623.In section 465(3) (exclusion of distributions except in tax avoidance...
624.In section 476(1) (other definitions)— (a) in the definition of...
625.In section 486F(2)(a) (meaning of “income stream transfer”) for “Part...
626.In section 486G(2) (meaning of “relevant receipts”) for “paragraph 1(2)...
627.(1) Amend section 488 (meaning of “open-ended investment company etc”)...
628.(1) Amend section 493 (the qualifying investments test) as follows....
629.In section 495(3)(a)(ii) (qualifying holdings) for “section 468A(3) of ICTA”...
630.In section 502(1)(a) (meaning of “financial institution”) for “section 840A...
631.In section 518(2)(c) (investment bond arrangements: treatment as securities) for...
632.(1) Amend section 519 (investment bond arrangements: other provisions) as...
633.In section 520(2)(b) (provision not at arm’s length: non-deductibility of...
634.In section 521D(5) (excepted shares) for the words from “Chapter...
635.In section 539(7) (introduction to Chapter 9 of Part 6)...
636.In section 540(3) (manufactured interest treated as interest under loan...
637.(1) Amend section 541 (debits for deemed interest under stock...
638.In section 606H(11) (other interpretative provisions) for “section 840ZA of...
639.In section 629(5) (tax avoidance), in the definition of “tax...
640.In section 631(1) (transferee leaving group otherwise than because of...
641.In section 632(1) (transferee leaving group because of exempt distribution)—...
642.In section 691(6) (meaning of “unallowable purpose”) for “section 840ZA...
643.(1) Amend section 710 (other definitions) as follows.
644.In section 753(3)(b) (treatment of non-trading losses) for “(see section...
645.In section 768 (company cannot be member of more than...
646.In section 772 (equity holders and profits or assets available...
647.In section 773(1) (supplementary provisions) for “section 838 of ICTA”...
648.In section 775(4)(b) (transfers within a group) for “section 404...
649.In section 777(3)(e) (relief on realisation and reinvestment: application to...
650.In section 784 (groups with a relevant connection) for subsection...
651.In section 787(5) (company ceasing to be member of group...
652.In section 793(4)(b) (further requirements about elections) for “section 404...
653.(1) Amend section 796 (interpretation of section 795) as follows....
654.In section 814(5) (research and development) for “section 837A of...
655.In section 818(4)(b) (company reconstruction involving transfer of business) for...
656.In section 826(3)(c) (amalgamation of, or transfer of engagements by,...
657.(1) Amend section 841 (“participator” and “associate”) as follows.
658.In section 847(5)(a) (transfers involving other taxes) for “section 209...
659.In section 931B(b) (exemption of distributions received by small companies)...
660.In section 931D(b) (exemption of distributions received by companies that...
661.In section 931V(2) (meaning of “scheme” and “tax advantage scheme”)...
662.Omit section 968 (meaning of “personal representatives”) (including the italic...
663.In section 971(2)(b) (overview of Chapter) for “section 7(2) of...
664.In section 974(6) (charge to tax under Chapter 6) for...
665.In section 1004(9) (groups, consortiums and commercial associations of companies)...
666.In section 1041 (“research and development”) for “section 837A of...
667.(1) Amend section 1048 (treatment of deemed trading loss under...
668.In section 1049(3) (restriction on consortium relief) for “under section...
669.(1) Amend section 1056 (amount of unrelieved trading loss) as...
670.In section 1062(2) (restriction on losses carried forward where tax...
671.In section 1082(4) (R&D expenditure of group companies) for “Chapter...
672.(1) Amend section 1096 (treatment of deemed trading loss under...
673.(1) Amend section 1105 (amount of unrelieved trading loss) as...
674.In section 1111(2) (restriction on losses carried forward where tax...
675.In section 1116(4)(a) (meaning of “the actual reduction in tax...
676.In section 1142(1) (meaning of “qualifying body”)—
677.(1) Amend section 1153 (amount of unrelieved loss) as follows....
678.(1) Amend section 1158 (restriction on losses carried forward where...
679.In section 1179 (other definitions) for the definition of “UK...
680.In section 1209(2) (restriction on use of losses while film...
681.(1) Amend section 1210 (use of losses in later periods)...
682.(1) Amend section 1211 (terminal losses) as follows.
683.In section 1219 (expenses of management of a company’s investment...
684.In section 1220(5)(b) (meaning of “unallowable purpose”) for “section 840ZA...
685.In section 1221(1) (amounts treated as expenses of management)—
686.(1) Amend section 1223 (carrying forward expenses of management and...
687.In section 1225(3) (accounts conforming with GAAP) for “section 1311”...
688.In section 1229(6) (claw back of relief) for “section 1311”...
689.In section 1248 (expenses in connection with arrangements for securing...
690.In section 1256(2) (overview) for “section 116 of ICTA (arrangements...
691.(1) Amend section 1262 (allocation of firm’s profits or losses...
692.Before section 1302 insert— Qualifying charitable donations In calculating a company’s income from any source for corporation...
693.In section 1306(3)(a) (losses calculated on same basis as miscellaneous...
694.(1) Amend section 1307 (apportionment etc of miscellaneous profits and...
695.In section 1308(7) (expenditure brought into account in determining value...
696.Omit section 1311 (apportionment to different periods) (including the italic...
697.In section 1312 (abbreviated references to Acts) insert at the...
698.(1) Amend section 1316 (meaning of “connected” persons and “control”)...
699.Omit section 1317 (meaning of “farming” and related expressions).
700.Omit section 1318 (meaning of grossing up).
701.(1) Amend section 1319 (other definitions) as follows.
702.Omit section 1320(1) (interpretation: Scotland).
703.(1) Amend Schedule 2 (transitionals and savings) as follows.
704.(1) Amend Schedule 4 (index of defined expressions) as follows....
705.Saving Gateway Accounts Act 2009 (c. 8)
706.Finance Act 2009 (c. 10)
707.In section 7(3) (charge and main rates for financial year...
708.In section 8(4) (small companies’ rates and fractions for financial...
709.Omit section 38 (corporation tax: foreign currency accounting).
710.In section 45(6) (power to enable dividends of investment trusts...
711.Omit section 90 (supplementary charge: reduction for certain new oil...
712.In section 126(1) (interpretation) at the appropriate place insert— “CTA...
713.In Schedule 3 (VAT: supplementary charge and orders changing rate)...
714.(1) Amend paragraph 3 of Schedule 6 (temporary extension of...
715.Omit Schedule 18 (corporation tax: foreign currency accounting).
716.(1) Amend Schedule 22 (offshore funds) as follows.
717.Omit paragraphs 1 to 6 of Schedule 25 (transfer of...
718.(1) Amend Schedule 33 (long funding leases of films) as...
719.In Schedule 35 (pensions: special annual allowance charge) in paragraph...
720.Omit Schedule 44 (supplementary charge: reduction for certain new oil...
721.(1) Amend paragraph 18 of Schedule 46 (duties of senior...
722.In Schedule 53 (late payment interest) in paragraph 6 for...
723.In Schedule 55 (penalty for failure to make returns etc)...
724.(1) Amend Schedule 61 (alternative finance investment bonds) as follows....
Transitionals and savings etc
1.Continuity of the law: general
8.General saving for old transitional provisions and savings
Part 3 Currency
11.Sterling equivalent of certain losses carried back to an earlier period
12.Adjustment of certain sterling losses carried back to an earlier period
13.Right of company to elect for alternative provision to apply
14.In relation to an accounting period beginning before 21 July...
15.This Schedule has effect in relation to the company as...
16.In relation to profits or losses arising in accounting periods...
Part 4 Loss relief (other than share loss relief)
17.Carry forward loss reliefs
18.Trade loss relief against total profits
19.(1) This paragraph applies for the purposes of section 42...
20.Transfers of trade to obtain relief
21.Dealings in commodity futures
22.Leasing contracts and company reconstructions
23.Reliefs for limited partners not to exceed contribution to the firm
24.Reliefs for members of LLPs not to exceed contribution to the LLP
25.Loss relief against miscellaneous income: Case VI losses under ICTA
26.Write-off of government investment
Part 5 Losses on disposal of shares
27.Disposals of new shares
28.Qualifying trading companies
29.The trading requirement
30.Ceasing to meet trading requirement because of administration or receivership
31.The control and independence requirement
32.The qualifying subsidiaries requirement
33.The property managing subsidiaries requirement
34.The gross assets requirement
35.The unquoted status requirement
36.Power to amend requirements by Treasury order
37.Relief after an exchange of shares for shares in another company
38.Substitution of new shares for old shares
39.Interpretation of Chapter
40.In relation to shares issued before 6 April 1998, section...
41.Meaning of “qualifying 90% subsidiary”
42.Meaning of “qualifying subsidiary”
43.Meaning of “excluded activities”
44.Excluded activities: wholesale and retail distribution
45.Excluded activities: leasing of ships
46.Excluded activities: receipt of royalties and licence fees
47.(1) This paragraph applies in relation to shares issued on...
48.In relation to shares issued before 6 April 2000, section...
49.Excluded activities: provision of services or facilities for another business
50.Meaning of a company being “in administration”
51.Application in relation to corresponding bonus shares
Part 6 Group Relief
52.In section 127 “arrangements” covers only— (a) arrangements made on...
53.Section 175 has effect in relation to an accounting period...
54.Sections 173 to 178 do not have effect where the...
55.(1) Sub-paragraph (2) applies in relation to shares issued by...
Part 7 Charitable donations relief
56.Condition as to repayment
57.Restrictions on associated benefits
58.Enactment of extra-statutory concession
Part 8 CITR
59.(1) Sub-paragraph (2) applies in relation to any time after...
Part 9 Oil activities
60.Regional development grants
Part 10 Leasing plant or machinery
61.Disapplication of Chapter 2 of Part 9
62.Disapplication of sections 360 and 361 and modification of section 360 in some cases
63.Disapplication of provisions about cases where sections 360 to 369 do not apply
64.(1) Section 376 (films) does not apply if the inception...
65.Relief for expenses otherwise carried forward: losses incurred in accounting periods ending before 22 April 2009
66.(1) In relation to losses incurred in accounting periods ending...
67.(1) In relation to losses incurred in accounting periods ending...
68.Modifications of sales of lessors Chapters in Part 9 where the relevant date is before 22 April 2009
Part 11 Close companies
69.Exceptions to the charge under section 455
Part 12 Charitable companies etc
70.Transactions in deposits
71.Exemption for investment income
72.Exemption for certain miscellaneous income
73.Transactions with substantial donors
74.For the purposes of section 502 a person may meet...
75.In relation to times before 23 April 2009, section 502(2)(b)...
76.Until paragraph 15 of Schedule 9 to the Housing and...
77.Non-charitable expenditure
Part 13 Real Estate Investment Trusts
78.Notice under section 523 or 524
79.Property rental business: excluded business
Part 14 Co-operative housing associations and self-build societies
80.Concurrent exercise of functions
81.So far as any function of the Welsh Ministers under...
82.Delegation of functions to the Regulator of Social Housing
83.Until paragraph 14 of Schedule 9 to the Housing and...
84.Transactions in securities: general
85.Transactions in securities: meaning of relevant companies for the purposes of sections 737 and 738
86.Transfers of income streams
87.Application of Chapter 2 of Part 16 (finance arrangements) to pre-6 June 2006 arrangements
88.Application of section 771 (finance arrangements: exceptions)
89.Application of section 779 (income-transfer under loan or credit transaction)
90.Manufactured dividends and manufactured overseas dividends: distributions paid before 1 July 2009
91.Accordingly, in relation to distributions paid before 1 July 2009—...
92.Manufactured overseas dividends: overseas dividends paid before 22 April 2009
93.Deemed manufactured payments: stock lending arrangements
94.Section 812 does not apply if the arrangement mentioned in...
Part 18 Sale and lease-back etc
95.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
96.Relevant capital payments: pre-12 March 2008 payments and obligations
97.Relevant capital payments: leases whose inception is before 22 April 2009
Part 20 Leasing arrangements: finance leases and loans
98.Old bad debts
Part 21 Transfers of trade without a change in ownership
99.Section 945 does not apply if the transfer of the...
100.Section 949 does not apply if the transfer of the...
Part 22 Use of different accounting practices within a group
101.Section 996 does not have effect in relation to periods...
102.Amount of principal secured: non-commercial securities
103.Meaning of “special securities”
104.Amount of principal secured: special securities
105.Bonus issue following repayment of share capital
106.Share capital issued as paid up otherwise than by receipt of new consideration
107.Interest etc paid in respect of certain securities
108.Stock dividends
109.Section 1050 does not apply in relation to a conversion...
110.Exempt distributions
111.Eligibility for tax credits
112.Recovery of overpaid tax credits etc
113.(1) Section 1139 has effect as if in subsection (4)(b)...
114.(1) In relation to shares and securities issued before 17...
115.If an order under paragraph 13(2) of Schedule 22 to...
Part 2 Repeals and revocations having effect for corporation tax purposes only