Corporation Tax Act 2009 section 971

Overview of Chapter

Section 971 provides an overview of the chapter, explaining how relevant amounts arising from unauthorised unit trusts are calculated and charged to corporation tax, and directing readers to related provisions dealing with the position of unit holders.

• This section gives an overview of the chapter dealing with the taxation of unauthorised unit trusts for corporation tax purposes.
• It explains how relevant amounts connected with unauthorised unit trusts are calculated and then brought into the charge to corporation tax.
• The section also signposts specific provisions in the Income Tax Act (ITA) and the Income and Corporation Taxes Act (ICTA) that address the tax position of individual unit holders.
• This is a standalone introductory provision that was newly created for the Corporation Tax Act 2009, rather than being rewritten from earlier legislation.