Corporation Tax Act 2009 section 976

Overview of Chapter

Section 976 provides an overview of the rules for taxing annual payments that are not already subject to corporation tax under another provision, and signposts other relevant legislation.

• This chapter brings annual payments that are not charged to corporation tax elsewhere within the corporation tax on income charge
• Discretionary payments made by trustees to companies have their own specific rules that also apply to annual payments falling within this chapter
• Where income tax has been deducted at source from an annual payment within this chapter, the recipient company is treated as having paid that income tax, which can then be set against its corporation tax liability
• Special provisions relating to royalties under the Income Tax Act 2007 are also relevant to the tax treatment of annual payments covered by this chapter