Corporation Tax Act 2009 section 969

Charge to tax on income from holding an office

Section 969 establishes that corporation tax applies to income a company receives from holding an office, and sets out how that income should be calculated.

• Income a company receives from holding an office (such as acting as company secretary) is subject to corporation tax.
• The amount of taxable income is calculated using income tax rules and practice, treating accounting periods as if they were tax years.
• The calculation follows the employment income rules in Part 2 of ITEPA 2003, and any income tax exemption relating to office income also applies for corporation tax purposes unless specifically overridden.
• An "office" means any position that exists independently of whoever holds it and can be filled by successive holders.