Skip to main content
Taxworld Logo
  • Membership
  • Tax Guide 2025–26 All Tax Guides Finance Act 2025 All Finance Acts See all publications →
  • Tax Planning for Non-Doms: Ireland 2024 See all events →
  • Blog Legislation
  • About Tax World Ireland 🇮🇪
Log in Get Started
Get Started
Taxworld Logo
Membership
Publications
Tax Guide 2025–26 All Tax Guides Finance Act 2025 All Finance Acts See all publications
Events
Tax Planning for Non-Doms: Ireland 2024 See all events
Resources
Blog Legislation
Company
About Tax World Ireland 🇮🇪
Log in Get Started

Corporation Tax Act 2009

▸ Part 1 – Introduction (ss A1-1)
  • Section A1 – Overview of the Corporation Tax Acts [CTA 2009 s A1]
  • Section 1 – Overview of Act [CTA 2009 s 1]
▸ Part 2 – Charge to corporation tax: basic provisions (ss 2-33)
  • ▸ Chapter 1 – The charge to corporation tax (ss 2-8)
    • Charge to tax on profits (ss 2-4)
    • General scheme of corporation tax (ss 5-8)
  • ▸ Chapter 2 – Accounting periods (ss 9-12)
    • Section 9 – Beginning of accounting period [CTA 2009 s 9]
    • Section 10 – End of accounting period [CTA 2009 s 10]
    • Section 11 – Companies with more than one accounting date [CTA 2009 s 11]
    • Section 12 – Companies being wound up [CTA 2009 s 12]
  • ▸ Chapter 3 – Company residence (ss 13-18)
    • Section 13 – Overview of Chapter [CTA 2009 s 13]
    • Section 14 – Companies incorporated in the United Kingdom [CTA 2009 s 14]
    • Section 15 – Continuation of residence established under common law [CTA 2009 s 15]
    • Section 16 – SEs which transfer registered office to the United Kingdom [CTA 2009 s 16]
    • Section 17 – SCEs which transfer registered office to the United Kingdom [CTA 2009 s 17]
    • Section 18 – Companies treated as non-UK resident under double taxation arrangements [CTA 2009 s 18]
  • ▸ Chapter 3A – UK Resident companies: profits of foreign permanent establishments (ss 18A-18S)
    • Exemption (ss 18A-18F)
    • Anti-diversion rule (ss 18G-18ID)
    • Companies with total opening negative amount (ss 18J-18O)
    • Special cases (ss 18P-18Q)
    • Interpretation (ss 18R-18S)
  • ▸ Chapter 4 – Non-UK resident companies: chargeable profits (ss 19-32)
    • Chargeable profits (ss 19-20)
    • The separate enterprise principle (ss 21-24)
    • The separate enterprise principle: application to non-UK resident banks (ss 25-28)
    • Rules about deductions (ss 29-32)
  • ▸ Chapter 5 – Supplementary (s 33)
    • Section 33 – Trade includes office [CTA 2009 s 33]
▸ Part 3 – Trading Income (ss 34-201)
  • ▸ Chapter 1 – Introduction (s 34)
    • Section 34 – Overview of Part [CTA 2009 s 34]
  • ▸ Chapter 2 – Income taxed as trade profits (ss 35-45)
    • Charge to tax on trade profits (s 35)
    • Trades and trade profits (ss 36-40B)
    • Starting and ceasing to trade (s 41)
    • Trading income and property income (ss 42-45)
  • ▸ Chapter 3 – Trade profits: basic rules (ss 46-52)
    • Section 46 – Generally accepted accounting practice [CTA 2009 s 46]
    • Section 47 – Losses calculated on same basis as profits [CTA 2009 s 47]
    • Section 48 – Receipts and expenses [CTA 2009 s 48]
    • Section 49 – Items treated as receipts and expenses [CTA 2009 s 49]
    • Section 49A – Money’s worth [CTA 2009 s 49A]
    • Section 50 – Animals kept for trade purposes [CTA 2009 s 50]
    • Section 51 – Relationship between rules prohibiting and allowing deductions [CTA 2009 s 51]
    • Section 52 – Apportionment etc. of profits and losses to accounting period [CTA 2009 s 52]
  • ▸ Chapter 4 – Trade profits: rules restricting deductions (ss 53-60A)
    • Section 53 – Capital expenditure [CTA 2009 s 53]
    • Section 54 – Expenses not wholly and exclusively for trade and unconnected losses [CTA 2009 s 54]
    • Section 55 – Bad debts [CTA 2009 s 55]
    • Section 56 – Car hire [CTA 2009 s 56]
    • Section 57 – Car hire: supplementary [CTA 2009 s 57]
    • Section 58 – Hiring cars (but not motor cycles) with low CO 2 emissions before 1 April 2013 [CTA 2009 s 58]
    • Section 58A – Short-term hiring in and long-term hiring out [CTA 2009 s 58A]
    • Section 58B – Connected persons: application of section 56 [CTA 2009 s 58B]
    • Section 59 – Patent royalties [CTA 2009 s 59]
    • Section 60 – Expenditure on integral features [CTA 2009 s 60]
    • Section 60A – Rental rebates [CTA 2009 s 60A]
  • ▸ Chapter 5 – Trade Profits: Rules Allowing Deductions (ss 61-92A)
    • Pre-trading expenses (s 61)
    • Tenants under taxed leases (ss 62-68)
    • Payments for restrictive undertakings (s 69)
    • Seconded employees (ss 70-71)
    • Contributions to agents' expenses (s 72)
    • Counselling and retraining expenses (ss 73-75)
    • Redundancy payments etc. (ss 76-81)
    • Contributions to local enterprise organisations or urban regeneration companies (ss 82-86)
    • Contributions to flood and coastal erosion risk management projects (ss 86A-86B)
    • Scientific research (ss 87-88)
    • Expenses connected with patents, designs and trade marks (ss 89-90)
    • Export Credits Guarantee Department (s 91)
    • Levies under FISMA 2000 (s 92)
    • Limited liability partnerships: salaried members (s 92A)
  • ▸ Chapter 6 – Trade profits: receipts (ss 93-104)
    • Capital receipts (s 93)
    • Debts released (s 94)
    • Amounts received following earlier cessation (s 95)
    • Reverse premiums (ss 96-100)
    • Other receipts (ss 101-104)
  • ▸ Chapter 6A – Trade profits: R&D expenditure credits (ss 104A-104Y)
    • Claims for credits (ss 104A-104BA)
    • SMEs: qualifying expenditure on sub-contracted R&D (ss 104C-104E)
    • SMEs: subsidised qualifying expenditure (ss 104F-104H)
    • SMEs: capped R&D expenditure (s 104I)
    • Large companies: qualifying R&D expenditure (ss 104J-104L)
    • Amount of credit (s 104M)
    • Payment of credit (ss 104N-104T)
    • Insurance companies (ss 104U-104V)
    • Group companies (s 104W)
    • Ineligible companies (s 104WA)
    • Anti-avoidance (s 104X)
    • Interpretation (s 104Y)
  • ▸ Chapter 7 – Trade profits: gifts to charities etc. (ss 105-108)
    • Relief for certain gifts (ss 105-107)
    • Benefits associated with gifts (s 108)
  • ▸ Chapter 8 – Trade profits: herd basis rules (ss 109-127)
    • Introduction (ss 109-111)
    • The herd basis rules (ss 112-121)
    • Elections (ss 122-124)
    • Preventing abuse of the herd basis rules (s 125)
    • Supplementary (ss 126-127)
  • ▸ Chapter 8A – Compensation for compulsory slaughter of animals (ss 127A-127G)
    • Section 127A – Application of Chapter 8A [CTA 2009 s 127A]
    • Section 127B – Right to make claim [CTA 2009 s 127B]
    • Section 127C – Book value [CTA 2009 s 127C]
    • Section 127D – Effect of claim for spreading of profits [CTA 2009 s 127D]
    • Section 127E – Adjustment: cessation of trading [CTA 2009 s 127E]
    • Section 127F – Time limits etc. for spreading claim [CTA 2009 s 127F]
    • Section 127G – Interpretation [CTA 2009 s 127G]
  • ▸ Chapter 9 – Trade profits: other specific trades (ss 128-155)
    • Dealers in securities etc. (ss 128-129)
    • Insurers (ss 130-130A)
    • Building societies (s 131)
    • Registered societies (s 132)
    • Credit unions (s 133)
    • Banking companies (ss 133A-133N)
    • Dealers in land etc. (ss 134-136)
    • Mineral exploration and access (s 137)
    • Companies liable to pool betting duty (s 138)
    • Intermediaries treated as making employment payments (ss 139-140)
    • Managed service companies (s 141)
    • Worker's services provided through intermediary to public authority or medium or large client (s 141A)
    • Waste disposal (ss 142-145)
    • Cemeteries and crematoria: interests in land (ss 146-149)
    • Crematoria: niches, memorials and inscriptions (ss 149A-149E)
    • Sound recordings (ss 150-152)
    • Reserves of marketing authorities etc. (ss 153-155)
  • ▸ Chapter 10 – Trade Profits: Changes in Trading Stock (ss 156-161)
    • Introduction (s 156)
    • Transfers of trading stock between trade and trader (ss 157-158)
    • Other disposals and acquisitions not made in the course of trade (ss 159-160)
    • Relationship with transfer pricing rules (s 161)
  • ▸ Chapter 11 – Trade Profits: Valuation of Stock on Cessation of Trade (ss162-171)
    • Section 162 – Valuation of trading stock on cessation [CTA 2009 s 162]
    • Section 163 – Meaning of "trading stock" [CTA 2009 s 163]
    • Section 164 – Basis of valuation of trading stock [CTA 2009 s 164]
    • Section 165 – Sale basis of valuation: sale to unconnected person [CTA 2009 s 165]
    • Section 166 – Sale basis of valuation: sale to connected person [CTA 2009 s 166]
    • Section 167 – Sale basis of valuation: election by connected persons [CTA 2009 s 167]
    • Section 168 – Connected persons [CTA 2009 s 168]
    • Section 169 – Cost to buyer of stock valued on sale basis of valuation [CTA 2009 s 169]
    • Section 170 – Meaning of "sale" and related expressions [CTA 2009 s 170]
    • Section 171 – Determination of questions [CTA 2009 s 171]
  • ▸ Chapter 12 – Deductions from profits: unremittable amounts (ss 172-175)
    • Section 172 – Application of Chapter [CTA 2009 s 172]
    • Section 173 – Relief for unremittable amounts [CTA 2009 s 173]
    • Section 174 – Restrictions on relief [CTA 2009 s 174]
    • Section 175 – Withdrawal of relief [CTA 2009 s 175]
  • ▸ Chapter 13 – Disposal and acquisition of know-how (ss 176-179)
    • Section 176 – Meaning of "know-how" etc [CTA 2009 s 176]
    • Section 177 – Disposal of know-how if trade continues to be carried on [CTA 2009 s 177]
    • Section 178 – Disposal of know-how as part of disposal of all or part of a trade [CTA 2009 s 178]
    • Section 179 – Seller controlled by buyer etc. [CTA 2009 s 179]
  • ▸ Chapter 14 – Adjustment on change of basis (ss 180-187)
    • Adjustment on change of basis (ss 180-182)
    • Expenses previously brought into account (s 183)
    • Realising or writing off assets (s 184)
    • Mark to market (ss 185-187)
  • ▸ Chapter 15 – Post-cessation receipts (ss 188-200)
    • Charge to tax on post-cessation receipts (ss 188-189)
    • Meaning of “post-cessation receipts” (ss 190-191)
    • Sums treated as post-cessation receipts (ss 192-194)
    • Sums that are not post-cessation receipts (s 195)
    • Deductions (ss 196-197)
    • Election to carry back (ss 198-200)
  • ▸ Chapter 16 – Priority rules (ss 201)
    • Section 201 – Provisions which must be given priority over this Part [CTA 2009 s 201]
▸ Part 4 – Property income (ss 202-291)
  • ▸ Chapter 1 – Introduction (ss 202)
    • Section 202 – Overview of Part [CTA 2009 s 202]
  • ▸ Chapter 2 – Property businesses (ss 203-208)
    • Introduction (ss 203-204)
    • Basic meaning of UK and overseas property business (ss 205-206)
    • Generating income from land (ss 207-208)
  • ▸ Chapter 3 – Profits of property businesses: basic rules (ss 209-214)
    • Charge to tax on profits of a property business (s 209)
    • Calculation of profits (ss 210-214)
  • ▸ Chapter 4 – Profits of property businesses: lease premiums etc. (ss 215-247)
    • Introduction (ss 215-216)
    • Amounts treated as receipts: leases (ss 217-223)
    • Other amounts treated as receipts (ss 224-226)
    • Additional calculation rule for reducing certain receipts (ss 227-230)
    • Deductions in relation to certain receipts (ss 231-234)
    • Limit on effect of additional calculation rule and deductions (s 235)
    • Certain administrative provisions (ss 236-239)
    • Determinations affecting liability of more than one person (ss 240-242)
    • Effective duration of lease (ss 243-245)
    • Other interpretative provisions (ss 246-247)
  • ▸ Chapter 5 – Profits of property businesses: other rules about receipts and deductions (ss 248-263)
    • Furnished accommodation: receipts and deductions (ss 248-248C)
    • Treatment of receipts on acquisition of business (s 249)
    • Reverse premiums as receipts (s 250)
    • Deduction for replacement of domestic items (s 250A)
    • Deductions for expenditure on energy-saving items (ss 251-253)
    • Deductions for expenditure on sea walls (ss 254-257)
    • Mineral royalties (s 258)
    • Apportionments on sale of land (s 259)
    • Mutual business (s 260)
    • Adjustment on change of basis (ss 261-262)
    • Integral features (s 263)
  • ▸ Chapter 6 – Commercial letting of furnished holiday accommodation (ss 264-269A)
    • Introduction (s 264)
    • Definition (ss 265-268A)
    • Separate profit calculations (ss 269-269A)
  • ▸ Chapter 7 – Rent receivable in connection with a UK section 39(4) concern (ss 270-276)
    • Charge to tax on rent receivable in connection with a UK section 39(4) concern (ss 270-271)
    • Management expenses of owner of mineral rights (s 272)
    • Mineral royalties (ss 273-276)
  • ▸ Chapter 8 – Rent receivable for UK electric-line wayleaves (ss 277-279)
    • Charge to tax on rent receivable for UK electric-line wayleaves (ss 277-279)
  • ▸ Chapter 9 – Post-cessation receipts (ss 280-286)
    • Charge to tax on post-cessation receipts (ss 280-281)
    • Meaning of “post-cessation receipts” (ss 282-284)
    • Deductions (s 285)
    • Election to carry back (s 286)
  • ▸ Chapter 10 – Supplementary (ss 287-291)
    • Priority rules (ss 287-288)
    • Other supplementary provisions (ss 289-291)
▸ Part 5 – Loan Relationships (ss 292-476)
  • ▸ Chapter 1 – Introduction (ss 292-301)
    • Introduction (ss 292-294)
    • How profits and deficits from loan relationships are dealt with (ss 295-301)
  • ▸ Chapter 2 – Basic definitions (ss 302-305)
    • Section 302 – "Loan relationship", "creditor relationship", "debtor relationship" [CTA 2009 s 302]
    • Section 303 – "Money debt" [CTA 2009 s 303]
    • Section 304 – "Related transaction" [CTA 2009 s 304]
    • Section 305 – Payments, interest, rights and liabilities under a loan relationship [CTA 2009 s 305]
  • ▸ Chapter 3 – The credits and debits to be brought into account: general (ss 306-334)
    • Introduction (s 306)
    • Matters in respect of which amounts are to be brought into account (s 306A)
    • General principles about the bringing into account of credits and debits (s 307)
    • Amounts recognised in determining a company's profit or loss (ss 308-312)
    • Accounting bases (ss 313-314)
    • Adjustments on change of accounting basis (ss 315-319)
    • Rules differing from generally accepted accounting practice (s 320-327)
    • Exchange gains and losses (ss 328-328H)
    • Pre-loan relationship, abortive and pre-trading expenses (ss 329-330)
    • Pre-commencement debits of property businesses etc. of non-UK resident companies (s 330ZA)
    • Company is not, or has ceased to be, party to loan relationship (ss 330A-330C)
    • Company ceasing to be party to loan relationship (ss 331-332)
    • Company moving abroad (ss 333-334)
  • ▸ Chapter 4 – Continuity of treatment on transfers within groups or on reorganisations (ss 335-347)
    • Application of this Chapter (ss 335-339)
    • Continuity of treatment: transfer of loan at notional carrying value (ss 340-343)
    • Transferee leaving group after replacing transferor as party to loan relationship (ss 344-347)
  • ▸ Chapter 5 – Connected companies relationships: introduction and general (ss 348-352B)
    • Section 348 – Introduction: meaning of "connected companies relationship" [CTA 2009 s 348]
    • Section 349 – Application of amortised cost basis to connected companies relationships [CTA 2009 s 349]
    • Section 350 – Companies beginning to be connected [CTA 2009 s 350]
    • Section 351 – Companies ceasing to be connected [CTA 2009 s 351]
    • Section 352 – Disregard of related transactions [CTA 2009 s 352]
    • Section 352A – Exclusion of credits on reversal of disregarded loss [CTA 2009 s 352A]
    • Section 352B – Eliminating tax mismatch for loan relationships with qualifying link [CTA 2009 s 352B]
  • ▸ Chapter 6 – Connected companies relationships: impairment losses and releases of debts (ss 353-363A)
    • Introduction (s 353)
    • Exclusion of debits for impaired or released connected companies debts (ss 354-357)
    • Exclusion of credits for connected companies debts on release or reversal of impairments (ss 358-360)
    • Deemed debt releases on impaired debts becoming held by connected company (ss 361-363A)
  • ▸ Chapter 7 – Group relief claims involving impaired or released consortium debts (ss 364-371)
    • Section 364 – Introduction to Chapter [CTA 2009 s 364]
    • Section 365 – Reduction of impairment loss debits where group relief claimed [CTA 2009 s 365]
    • Section 366 – Effect where credit for release brought into account on amortised cost basis [CTA 2009 s 366]
    • Section 367 – Reduction of credits exceeding impairment losses [CTA 2009 s 367]
    • Section 368 – Reduction of claims where there are earlier net consortium debits [CTA 2009 s 368]
    • Section 369 – Carry forward of claims where there are no net consortium debits [CTA 2009 s 369]
    • Section 370 – Group accounting periods [CTA 2009 s 370]
    • Section 371 – Interpretation [CTA 2009 s 371]
  • ▸ Chapter 8 – Connected parties relationships: late interest (ss 372-379)
    • Section 372 – Introduction to Chapter [CTA 2009 s 372]
    • Section 373 – Late interest treated as not accruing until paid in some cases [CTA 2009 s 373]
    • Section 374 – Connection between debtor and person standing in position of creditor [CTA 2009 s 374]
    • Section 375 – Loans to close companies by participators etc [CTA 2009 s 375]
    • Section 376 – Interpretation of section 375 [CTA 2009 s 376]
    • Section 377 – Party to loan relationship having major interest in other party [CTA 2009 s 377]
    • Section 378 – Loans by trustees of occupational pension schemes [CTA 2009 s 378]
    • Section 379 – Persons indirectly standing in the position of creditor [CTA 2009 s 379]
  • ▸ Chapter 9 – Partnerships involving companies (ss 380-385)
    • Section 380 – Partnerships involving companies [CTA 2009 s 380]
    • Section 381 – Determinations of credits and debits by company partners: general [CTA 2009 s 381]
    • Section 382 – Company partners using fair value accounting [CTA 2009 s 382]
    • Section 383 – Lending between partners and the partnership [CTA 2009 s 383]
    • Section 384 – Treatment of exchange gains and losses [CTA 2009 s 384]
    • Section 385 – Company partners’ shares where firm owns deeply discounted securities [CTA 2009 s 385]
  • ▸ Chapter 10 – Insurance companies (ss 386-394)
    • Introduction (s 386)
    • Treatment of deficit on basic life assurance and general annuity business (ss 387-391)
    • Exclusion of loan relationships of members of Lloyd's (ss 392-394)
  • ▸ Chapter 11 – Other special kinds of company (ss 395-397)
    • Investment trusts' and venture capital trusts' creditor relationships (ss 395-396)
    • Credit unions (s 397)
  • ▸ Chapter 12 – Special rules for particular kinds of securities (ss 398-420A)
    • Introduction (s 398)
    • Index-linked gilt-edged securities (ss 399-400C)
    • Other gilt-edged securities (ss 401-405)
    • Deeply discounted securities: connected companies and close companies (ss 406-412)
    • Funding bonds (ss 413-414)
    • Derivatives (ss 415-419)
    • Options etc. (s 420)
    • Hybrid capital instruments (s 420A)
  • ▸ Chapter 13 – European cross-border transfers of business (ss 421-430)
    • Introduction (s 421)
    • Transfers of loan relationships at notional carrying value (ss 422-425)
    • Exception for tax avoidance cases (ss 426-428)
    • Transparent entities (s 429)
    • Interpretation (s 430)
  • ▸ Chapter 14 – European cross-border mergers (ss 431-439)
    • Introduction (ss 431-432)
    • Transfers of loan relationships at notional carrying value (ss 433-436)
    • Exception for tax avoidance cases (s 437)
    • Transparent entities (s 438)
    • Interpretation (s 439)
  • ▸ Chapter 15 – Tax avoidance (ss 440-455D)
    • Introduction (s 440)
    • Unallowable purposes and tax relief schemes (ss 441-443)
    • Transactions not at arm's length: general (ss 444-446)
    • Non-market loans (s 446A)
    • Transactions not at arm's length: exchange gains and losses (ss 447-452)
    • Transactions not at arm's length: exchange gains and losses (s 453)
    • Tax advantages from resetting interest rates (“reset bonds”) (s 454)
    • Disposals for consideration not fully recognised by accounting practice (s 455)
    • Derecognition (s 455A)
    • Counteracting avoidance arrangements (ss 455B-455D)
  • ▸ Chapter 16 – Non-trading deficits [: pre-1 April 2017 deficits and charities] (ss 456-463)
    • Section 456 – Introduction to Chapter [CTA 2009 s 456]
    • Section 457 – Basic rule for deficits: carry forward to accounting periods after deficit period [CTA 2009 s 457]
    • Section 458 – Claim to carry forward deficit to later accounting periods [CTA 2009 s 458]
    • Section 459 – Claim to set off deficit against profits of deficit period or earlier periods [CTA 2009 s 459]
    • Section 460 – Time limits and procedure for claims under section 459(1) [CTA 2009 s 460]
    • Section 461 – Claim to set off deficit against other profits for the deficit period [CTA 2009 s 461]
    • Section 462 – Claim to carry back deficit to earlier accounting periods [CTA 2009 s 462]
    • Section 463 – Profits available for relief under section 462 [CTA 2009 s 463]
  • ▸ Chapter 16A – Non-trading deficits: post 1 April 2017 deficits (ss 463A-463I)
    • Section 463A – Introduction to Chapter [CTA 2009 s 463A]
    • Section 463B – Claim to set off deficit against profits of deficit period or earlier periods [CTA 2009 s 463B]
    • Section 463C – Time limits for claims under section 463B(1) [CTA 2009 s 463C]
    • Section 463D – Claim to set off deficit against profits for the deficit period [CTA 2009 s 463D]
    • Section 463E – Claim to carry back deficit to earlier periods [CTA 2009 s 463E]
    • Section 463F – Profits available for relief under section 463E [CTA 2009 s 463F]
    • Section 463G – Carry forward of unrelieved deficit against total profits [CTA 2009 s 463G]
    • Section 463H – Carry forward of unrelieved deficit against non-trading profits [CTA 2009 s 463H]
    • Section 463I – Re-application of section 463G if any deficit remains after previous application [CTA 2009 s 463I]
  • ▸ Chapter 17 – Priority rules (ss 464-465)
    • Section 464 – Priority of this Part for corporation tax purposes [CTA 2009 s 464]
    • Section 465 – Exclusion of distributions except in tax avoidance cases [CTA 2009 s 465]
  • ▸ Chapter 18 – General and supplementary provisions (ss 465A-476)
    • Changes in accounting standards (s 465A)
    • Tax-adjusted carrying value (s 465B)
    • Connections between persons (ss 466-475)
    • Meaning of “hedging relationship” (s 475A)
    • Meaning of “matched” (s 475B)
    • Meaning of “hybrid capital instrument” (s 475C)
    • Other general definitions (s 476)
▸ Part 6 – Relationships treated as loan relationships etc (ss 477-569)
  • ▸ Chapter 1 – Introduction (s 477)
    • Section 477 – Overview of Part [CTA 2009 s 477]
  • ▸ Chapter 2 – Relevant non-lending relationships (ss 478-486)
    • Introduction: meaning of “relevant non-lending relationship” etc. (ss 478-480)
    • Application of Part 5 to relevant non-lending relationships (ss 481-482)
    • Meaning of “money debt” and “interest” in this Chapter (ss 483-484)
    • Exclusions (ss 485-486)
  • ▸ Chapter 2A – Disguised interest (ss 486A-486E)
    • Section 486A – Overview [CTA 2009 s 486A]
    • Section 486B – Disguised interest to be regarded as profit from loan relationship [CTA 2009 s 486B]
    • Section 486C – Exclusion where return otherwise taxable [CTA 2009 s 486C]
    • Section 486D – Exclusion where arrangement has no tax avoidance purpose [CTA 2009 s 486D]
    • Section 486E – Excluded shares [CTA 2009 s 486E]
  • ▸ Chapter 2B – Transferred income streams (ss 486F-486G)
    • Section 486F – Introduction to Chapter [CTA 2009 s 486F]
    • Section 486G – Consideration to be treated as loan relationship [CTA 2009 s 486G]
  • ▸ Chapter 3 – OEICs, unit trusts and offshore funds (ss 487-497)
    • Introduction (ss 487-489)
    • Holdings in OEICs, unit trusts and offshore funds treated as creditor relationship rights (ss 490-492)
    • The qualifying investments test (ss 493-496)
    • Power to change investments that are qualifying investments (s 497)
  • ▸ Chapter 4 – Building Societies (s 498)
    • Section 498 – Building society dividends and interest [CTA 2009 s 498]
  • ▸ Chapter 5 – Industrial and provident societies (ss 499-500)
    • Section 499 – Industrial and provident society payments treated as interest under loan relationship [CTA 2009 s 499]
    • Section 500 – Exclusion of interest where failure to make return [CTA 2009 s 500]
  • ▸ Chapter 6 – Alternative finance arrangements (ss 501-521)
    • Introduction (ss 501-502)
    • Arrangements that are alternative finance arrangements (ss 503-508)
    • Treatment as loan relationships (ss 509-510)
    • Meaning of “alternative finance return” (ss 511-513)
    • Treatment for other tax purposes (ss 514-520)
    • Power to extend this Chapter to other arrangements (s 521)
  • ▸ Chapter 6A – Shares accounted for as liabilities (ss 521A-521F)
    • Section 521A – Introduction to Chapter [CTA 2009 s 521A]
    • Section 521B – Application of Part 5 to certain shares as rights under creditor relationship [CTA 2009 s 521B]
    • Section 521C – Shares accounted for as liabilities [CTA 2009 s 521C]
    • Section 521D – Excepted shares [CTA 2009 s 521D]
    • Section 521E – Unallowable purpose [CTA 2009 s 521E]
    • Section 521F – Shares becoming or ceasing to be shares to which section 521B applies [CTA 2009 s 521F]
  • ▸ Chapter 7 – Shares with guaranteed returns etc (ss 522-535)
    • Application of Part 5 to certain shares as rights under creditor relationship (ss 522-523)
    • Shares subject to outstanding third party obligations (ss 524-525)
    • Non-qualifying shares (ss 526-533)
    • Consequences of section 523 applying or ceasing to apply (ss 534-535)
  • ▸ Chapter 8 – Returns from partnerships (ss 535-538)
    • Section 536 – Introduction to Chapter [CTA 2009 s 536]
    • Section 537 – Payments in return for capital contribution to partnership [CTA 2009 s 537]
    • Section 538 – Change of partnership shares [CTA 2009 s 538]
  • ▸ Chapter 9 – Manufactured interest etc (ss 539-541)
    • Section 539 – Introduction to Chapter [CTA 2009 s 539]
    • Section 540 – Manufactured interest treated as interest under loan relationship [CTA 2009 s 540]
    • Section 541 – Debits for deemed interest under stock lending arrangements disallowed [CTA 2009 s 541]
  • ▸ Chapter 10 – Repos (ss 542-559)
    • Introduction (s 542)
    • Creditor repos and creditor quasi-repos (ss 543-547)
    • Debtor repos and debtor quasi-repos (ss 548-551)
    • General provisions (ss 552-555)
    • Interpretation (556-559)
  • ▸ Chapter 11 – Investment life insurance contracts (ss 560-569)
    • Introduction (ss 560-561)
    • Investment life assurance contracts treated as creditor relationships (ss 562-565)
    • Old accounting period contracts (ss 566-569)
▸ Part 7 – Derivative contracts (ss 570-710)
  • ▸ Chapter 1 – Introduction (ss 570-574)
    • Introduction (s 570)
    • How profits and losses from derivative contracts are dealt with (ss 571-574)
  • ▸ Chapter 2 – Contracts to which this Part applies (ss 575-593)
    • Introduction (s 575)
    • Meaning of “derivative contract” and other basic definitions (ss 576-583)
    • Cases where companies treated as parties to relevant contracts (ss 584-586)
    • Other contracts etc. treated as derivative contracts (ss 587-588)
    • Exclusions from derivative contracts (ss 589-593)
  • ▸ Chapter 3 – Credits and debits to be brought into account: general (ss 594-611)
    • Introduction (s 594)
    • Matters in respect of which amounts are to be brought into account (s 594A)
    • General principles (ss 595-596)
    • Amounts recognised in determining a company's profit or loss (ss 597-599B)
    • Application of fair value accounting (ss 600-603)
    • Rules differing from generally accepted accounting practice (ss 604-605)
    • Exchange gains and losses (ss 606-606H)
    • Miscellaneous (ss 607-611)
  • ▸ Chapter 4 – Further provision about credits and debits to be brought into account (ss 612-623)
    • Introduction (s 612)
    • Adjustments on change of accounting basis (ss 613-615)
    • Certain embedded derivatives (ss 616-618)
    • Partnerships involving companies (ss 619-621)
    • Miscellaneous (ss 622-623)
  • ▸ Chapter 5 – Continuity of treatment on transfers within groups (ss 624-632)
    • Introductory (s 624)
    • Group member replacing another as party to derivative contract (ss 625-627)
    • Exceptions to section 625 (ss 628-629)
    • Transferee leaving group after replacing transferor as party to derivative contract (ss 630-632)
  • ▸ Chapter 6 – Special kinds of company (ss 633-638)
    • Mutual trading companies (s 633)
    • Insurance companies (634-636)
    • Investment and venture capital trusts (637-638)
  • ▸ Chapter 7 – Chargeable gains arising in relation to derivative contracts (ss 639-659)
    • Introduction (s 639)
    • Some credits and debits not to be brought into account under Part 5 (s 640)
    • Some derivative contracts to be taxed on a chargeable gains basis (ss 641-642)
    • Derivative contracts to which sections 640 and 641 apply (ss 643-650)
    • Some credits and debits not to be brought into account under Part 3 or 5 (s 651)
    • Issuers of securities with embedded derivatives: deemed options (ss 652-655)
    • Issuers of securities with embedded derivatives: deemed contracts for differences (ss 656-658)
    • Interpretation (s 659)
  • ▸ Chapter 8 – Further provision about chargeable gains and derivative contracts (ss 660-673)
    • Company ceasing to be party to certain contracts (ss 660-661)
    • Contracts ceasing to be derivative contracts (s 662)
    • Carry back of net losses on certain derivative contracts (ss 663-664)
    • Issuers of securities with embedded derivatives: equity instruments (ss 665-666)
    • Treatment of shares acquired in certain circumstances (ss 667-669)
    • Treatment of net gains and losses on exercise of option (ss 670-671)
    • Treatment of net gains and losses on disposal of certain embedded derivatives (ss 672-673)
  • ▸ Chapter 9 – European cross-border transfers of business (ss 674-681)
    • Introduction (s 674)
    • Transfers of derivative contracts at notional carrying value (ss 675-676)
    • Exception for tax avoidance cases and clearances (ss 677-679)
    • Transparent entities (s 680)
    • Interpretation (s 681)
  • ▸ Chapter 10 – European cross-border mergers (ss 682-688)
    • Introduction (ss 682-683)
    • Transfers of derivative contracts at notional carrying value (ss 684-685)
    • Exception for tax avoidance cases and clearances (s 686)
    • Transparent entities (s 687)
    • Interpretation (s 688)
  • ▸ Chapter 11 – Tax avoidance (ss 689-698D)
    • Introduction (s 689)
    • Unallowable purposes (ss 690-692)
    • Transactions not at arm's length (ss 693-695A)
    • Transactions with non-UK residents (ss 696-697)
    • Disposals for consideration not fully recognised by accounting practice (s 698)
    • Derecognition (s 698A)
    • Counteracting avoidance arrangements (ss 698B-698D)
  • ▸ Chapter 12 – Priority rules (ss 699-700)
    • Section 699 – Priority of this Part for corporation tax purposes [CTA 2009 s 699]
    • Section 700 – Relationship of this Part to Part 5: loan relationships [CTA 2009 s 700]
  • ▸ Chapter 13 – General and supplementary provisions (ss 701-710)
    • Power to amend certain provisions (s 701)
    • Changes to accounting standards (s 701A)
    • Other general definitions (ss 702-710)
▸ Part 8 – Intangible fixed assets (ss 711-906)
  • ▸ Chapter 1 – Introduction (ss 711-719)
    • Introductory (s 711)
    • Basic definitions (ss 712-714)
    • Goodwill (s 715)
    • Accounting rules and definitions (ss 716-719)
  • ▸ Chapter 2 – Credits in respect of intangible fixed assets (ss 720-725)
    • Section 720 – Introduction [CTA 2009 s 720]
    • Section 721 – Receipts recognised as they accrue [CTA 2009 s 721]
    • Section 722 – Receipts in respect of royalties so far as not dealt with under section 721 [CTA 2009 s 722]
    • Section 723 – Revaluation [CTA 2009 s 723]
    • Section 724 – Negative goodwill [CTA 2009 s 724]
    • Section 725 – Reversal of previous accounting loss [CTA 2009 s 725]
  • ▸ Chapter 3 – Realisation of intangible fixed assets (ss 726-732)
    • Section 726 – Introduction [CTA 2009 s 726]
    • Section 727 – References to expenditure on an asset [CTA 2009 s 727]
    • Section 728 – Expenditure written off as it is incurred [CTA 2009 s 728]
    • Section 729 – Writing down on accounting basis [CTA 2009 s 729]
    • Section 730 – Writing down at fixed rate: election for fixed-rate basis [CTA 2009 s 730]
    • Section 731 – Writing down at fixed rate: calculation [CTA 2009 s 731]
    • Section 732 – Reversal of previous accounting gain [CTA 2009 s 732]
  • ▸ Chapter 4 – Realisation of intangible fixed assets (ss 733-741)
    • Section 733 – Overview of Chapter [CTA 2009 s 733]
    • Section 734 – Meaning of “realisation” [CTA 2009 s 734]
    • Section 735 – Asset written down for tax purposes [CTA 2009 s 735]
    • Section 736 – Asset shown in balance sheet and not written down for tax purposes [CTA 2009 s 736]
    • Section 737 – Apportionment in case of part realisation [CTA 2009 s 737]
    • Section 738 – Asset not shown in balance sheet [CTA 2009 s 738]
    • Section 739 – Meaning of “proceeds of realisation” [CTA 2009 s 739]
    • Section 740 – Abortive expenditure on realisation [CTA 2009 s 740]
    • Section 741 – Meaning of “chargeable intangible asset” and “chargeable realisation gain” [CTA 2009 s 741]
  • ▸ Chapter 5 – Calculation of tax written-down value (ss 742-744)
    • Section 742 – Asset written down on accounting basis [CTA 2009 s 742]
    • Section 743 – Asset written down at fixed rate [CTA 2009 s 743]
    • Section 744 – Effect of part realisation of asset [CTA 2009 s 744]
  • ▸ Chapter 6 – How credits and debits are given effect (ss 745-753)
    • Introductory (ss 745-746)