Corporation Tax Act 2009 section 931D

Exemption from charge to tax

Section 931D sets out the conditions under which dividends and other distributions received by companies that are not small are exempt from corporation tax.

• Distributions received by non-small companies can be exempt from corporation tax if three conditions are met
• The distribution must fall within one of the exempt classes defined in sections 931E to 931Q of CTA 2009
• The distribution must not be a non-dividend distribution of the type described in paragraph E or F of section 1000(1) of CTA 2010
• No tax deduction must be available to a resident of any territory outside the United Kingdom, under that territory's law, in respect of the distribution