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Corporation Tax Act 2010

▸ Part 1 – Introduction (ss 1)
  • Section 1 – Overview of Act [CTA 2010 s 1]
▸ Part 2 – Calculation of liability in respect of profits (ss 2-17)
  • ▸ Chapter 1 – Introduction (s 2)
    • Section 2 – Overview of Part [CTA 2010 s 2]
  • ▸ Chapter 2 – Rates at which corporation tax on profits charged (s 3)
    • Section 3 – Corporation tax rates [CTA 2010 s 3]
  • ▸ Chapter 3 – Calculation of amount to which rates applied (ss 4)
    • Section 4 – Amount of profits to which corporation tax rates applied [CTA 2010 s 4]
  • ▸ Chapter 4 – Currency (ss 5-17)
    • The currency to be used in tax calculations (ss 5-9C)
    • Translating amounts into other currencies (ss 10-13)
    • Adjustment of sterling losses (ss 14-15)
    • Interpretation (ss 16-17)
▸ Part 3 – Companies with small profits (ss 18-34)
  • ▸ The small profits rate (ss 18)
    • Section 18 – Profits charged at the small profits rate [CTA 2010 s 18]
  • ▸ Marginal relief (ss 19-23)
    • Section 19 – Marginal relief [CTA 2010 s 19]
    • Section 20 – Company with only ring fence profits [CTA 2010 s 20]
    • Section 21 – Company with ring fence profits and other profits [CTA 2010 s 21]
    • Section 22 – The ring fence amount [CTA 2010 s 22]
    • Section 23 – The remaining amount [CTA 2010 s 23]
  • ▸ The lower limit and the upper limit (ss 24-30)
    • Section 24 – The lower limit and the upper limit [CTA 2010 s 24]
    • Section 25 – Associated companies [CTA 2010 s 25]
    • Section 26 – Section 25(3): treatment of certain non-trading companies [CTA 2010 s 26]
    • Section 27 – Attribution to persons of rights and powers of their associates [CTA 2010 s 27]
    • Section 28 – Associated companies: fixed-rate preference shares [CTA 2010 s 28]
    • Section 29 – Association through a loan creditor [CTA 2010 s 29]
    • Section 30 – Association through a trustee [CTA 2010 s 30]
  • ▸ Supplementary (ss 31-34)
    • Section 31 – Power to obtain information [CTA 2010 s 31]
    • Section 32 – Meaning of “augmented profits” [CTA 2010 s 32]
    • Section 33 – Interpretation of section 32(2) and (3) [CTA 2010 s 33]
    • Section 34 – Close investment-holding companies [CTA 2010 s 34]
▸ Part 3A – Companies with small profits (ss 18A-18N)
  • ▸ The standard small profits rate for non-ring fence profits (ss 18A)
    • Section 18A – Profits charged at the standard small profits rate [CTA 2010 s 18A]
  • ▸ Marginal relief (ss 18B-18C)
    • Section 18B – Marginal relief for companies without ring fence profits [CTA 2010 s 18B]
    • Section 18C – Marginal relief for companies with ring fence profits [CTA 2010 s 18C]
  • ▸ The lower limit and the upper limit (ss 18D-18J)
    • Section 18D – The lower limit and the upper limit [CTA 2010 s 18D]
    • Section 18E – Associated companies [CTA 2010 s 18E]
    • Section 18F – Section 18E(3): treatment of certain non-trading companies [CTA 2010 s 18F]
    • Section 18G – Attribution to persons of rights and powers of their partners [CTA 2010 s 18G]
    • Section 18H – Associated companies: fixed-rate preference shares [CTA 2010 s 18H]
    • Section 18I – Association through a loan creditor [CTA 2010 s 18I]
    • Section 18J – Association through a trustee [CTA 2010 s 18J]
  • ▸ Supplementary (ss 18K-18N)
    • Section 18K – Power to obtain information [CTA 2010 s 18K]
    • Section 18L – Meaning of “augmented profits” [CTA 2010 s 18L]
    • Section 18M – Interpretation of section 18L(3) [CTA 2010 s 18M]
    • Section 18N – Close investment-holding companies [CTA 2010 s 18N]
▸ Part 4 – Loss relief (ss 35-96)
  • ▸ Chapter 1 – Introduction (s 35)
    • Section 35 – Overview of Part [CTA 2010 s 35]
  • ▸ Chapter 2 – Trade losses (ss 36-54)
    • Introduction (ss 36)
    • Relief in loss-making period and carry back relief (ss 37-44)
    • Carry forward of trade loss relief (ss 45-47)
    • Restrictions on relief: farming or market gardening (ss 48-51)
    • Restrictions on relief: commodity futures (ss 52)
    • Other restrictions on relief (ss 53-54)
  • ▸ Chapter 3 – Limited partners and members of limited liability partnerships (ss 55-61)
    • Introduction (ss 55)
    • Limited partners (ss 56-58)
    • Members of LLPs (ss 59-61)
  • ▸ Chapter 4 – Property losses (ss 62-67B)
    • UK property businesses (ss 62-65)
    • Overseas property businesses (ss 66-67A)
    • Insurance companies (ss 67B)
  • ▸ Chapter 5 – Losses on disposal of shares (ss 68-90)
    • Share loss relief against income (ss 68-72)
    • Shares: subscription and disposal (ss 73-77)
    • Qualifying trading companies: the requirements (ss 78-86)
    • Qualifying trading companies: supplementary (ss 87-89)
    • Interpretation (ss 90)
  • ▸ Chapter 6 – Losses from miscellaneous transactions (s 91)
    • Section 91 – Relief for losses from miscellaneous transactions [CTA 2010 s 91]
  • ▸ Chapter 7 – Write-off of government investment (ss 92-96)
    • Section 92 – Loss relief to be reduced if government investment is written off [CTA 2010 s 92]
    • Section 93 – Groups of companies [CTA 2010 s 93]
    • Section 94 – Cases in which government investment is written off [CTA 2010 s 94]
    • Section 95 – Meaning of “carry-forward losses” [CTA 2010 s 95]
    • Section 96 – Interaction with other tax provisions [CTA 2010 s 96]
▸ Part 5 – Group relief (ss 97-188)
  • ▸ Chapter 1 – Introduction (s 97)
    • Section 97 – Introduction to Part [CTA 2010 s 97]
  • ▸ Chapter 2 – Surrender of company’s losses etc for an accounting period (ss 98-110)
    • Introduction (ss 98)
    • Basic provisions about surrendering losses and other amounts (ss 99-104)
    • Restrictions on losses and other amounts that may be surrendered (ss 105-110)
  • ▸ Chapter 3 – Surrenders made by non-UK resident company resident or trading in the EEA (ss 111-128)
    • Introduction (ss 111-112)
    • Basic provisions about surrendering losses and other amounts (ss 113)
    • Conditions that must be met (ss 114-121)
    • Other rules, assumptions and exclusions (ss 122-128)
  • ▸ Chapter 4 – Claims for group relief (ss 129-149)
    • Introduction (ss 129)
    • Surrenderable amounts under Chapter 2 (ss 130-134A)
    • Surrenderable amounts under Chapter 3 (ss 135-136)
    • Giving of group relief (ss 137)
    • General limitation on amount of group relief to be given (ss 138-142)
    • Limitations on group relief if claim based on consortium condition 1, 2 or 3 (ss 143-149)
  • ▸ Chapter 5 – Subsidiaries, groups and consortiums (ss 150-156)
    • Introduction (ss 150)
    • Explanations of terms (ss 151-153)
    • Arrangements for transfers of companies (ss 154-156)
  • ▸ Chapter 6 – Equity holders and profits or assets available for distribution (ss 157-182)
    • Introduction (ss 157)
    • Equity holders (ss 158-164A)
    • Company's entitlement to profits or assets available for distribution: basic provisions (ss 165-168)
    • Company's entitlement to profits or assets available for distribution: supplementary (ss 169-182)
  • ▸ Chapter 7 – Miscellaneous provisions and interpretation of Part (ss 183-188)
    • Miscellaneous (ss 183-184)
    • Interpretation (ss 185-188)
▸ Part 5A – Group relief for carried-forward losses (ss 188AA-188FD)
  • ▸ Chapter 1 – Introduction (s 188AA)
    • Section 188AA – Introduction to Part [CTA 2010 s 188AA]
  • ▸ Chapter 2 – Surrender of company's carried-forward losses etc. (ss 188BA-188BJ)
    • Section 188BA – Overview of Chapter [CTA 2010 s 188BA]
    • Section 188BB – Surrender of carried-forward losses and other amounts [CTA 2010 s 188BB]
    • Section 188BC – Restriction on surrendering pre-1 April 2017 losses etc. [CTA 2010 s 188BC]
    • Section 188BD – Restriction where investment business has become small or negligible [CTA 2010 s 188BD]
    • Section 188BE – Restriction where surrendering company could use losses etc. itself [CTA 2010 s 188BE]
    • Section 188BF – Restriction where surrendering company has no income-generating assets [CTA 2010 s 188BF]
    • Section 188BG – Restrictions for certain insurance companies [CTA 2010 S 188BG]
    • Section 188BH – Restriction on surrender of losses etc. made when UK resident [CTA 2010 S 188BH]
    • Section 188BI – Restriction on surrender of losses made when non-UK resident [CTA 2010 s 188BI]
    • Section 188BJ – Restriction on surrender losses etc. made when dual resident [CTA 2010 s 188BJ]
  • ▸ Chapter 3 – Claims for group relief for carried-forward losses (ss 188CA-188CK)
    • Introduction (ss 188CA)
    • Claiming group relief for carried-forward losses (ss 188CB-188CJ)
    • Giving group relief for carried-forward losses (ss 188CK)
  • ▸ Chapter 4 – Limitations on relief: claims under section 188CB (ss 188DA-188DL)
    • Introduction (ss 188DA)
    • General limitation on amount of relief (ss 188DB-188DG)
    • Further limitations on amount of relief if claim based on consortium conditions 1 or 2 (ss 188DH-188DL)
  • ▸ Chapter 5 – Limitations on relief: claims under section 188CC (ss 188EA-188EK)
    • Introduction (ss 188EA)
    • General limitation on amount of relief (ss 188EB-188EH)
    • Further limitations on amount of relief that apply in particular cases (ss 188EI-188EK)
  • ▸ Chapter 6 – Miscellaneous provisions and interpretation of Part (ss 188FA-188FD)
    • Miscellaneous (ss 188FA)
    • Interpretation (ss 188FB-188FD)
▸ Part 6 – Charitable donations relief (ss 189-217)
  • ▸ Chapter 1 – Nature of relief (ss 189-190)
    • Section 189 – Relief for qualifying charitable donations [CTA 2010 s 189]
    • Section 190 – Qualifying charitable donations: meaning [CTA 2010 s 190]
  • ▸ Chapter 2 – Certain payments to charity (ss 191-202A)
    • Qualifying payments (ss 191-198)
    • Payment attributed to earlier period (ss 199)
    • Interpretation (ss 200-202A)
  • ▸ Chapter 2A – Payments to community amateur sports clubs: anti-abuse (ss 202B-202C)
    • Section 202B – Restriction on relief for payments to community amateur sports clubs [CTA 2010 s 202B]
    • Section 202C – "Inflated member-related expenditure" [CTA 2010 s 202C]
  • ▸ Chapter 3 – Certain disposals to charity (ss 203-217)
    • Amounts treated as qualifying charitable donations (ss 203-208)
    • Value of net benefit to charity (ss 209-212)
    • Special provisions about qualifying interests in land (ss 213-216)
    • Interpretation (ss 217)
▸ Part 6A – Relief for expenditure on grassroots sport (ss 217A-217D)
  • Section 217A – Relief for expenditure on grassroots sport [CTA 2010 s 217A]
  • Section 217B – Meaning of qualifying expenditure on grassroots sport [CTA 2010 s 217B]
  • Section 217C – Meaning of qualifying sport body [CTA 2010 s 217C]
  • Section 217D – Relationship between this Part and Part 6 [CTA 2010 s 217D]
▸ Part 7 – Community investment tax relief (ss 218-269)
  • ▸ Chapter 1 – Introduction (ss 218-224)
    • CITR (ss 218-220B)
    • Miscellaneous (ss 221-224)
  • ▸ Chapter 2 – Qualifying investments (ss 225-230)
    • Section 225 – Qualifying investments: introduction [CTA 2010 s 225]
    • Section 226 – Conditions to be met in relation to loans [CTA 2010 s 226]
    • Section 227 – Conditions to be met in relation to securities [CTA 2010 s 227]
    • Section 228 – Conditions to be met in relation to shares [CTA 2010 s 228]
    • Section 229 – Tax relief certificates [CTA 2010 s 229]
    • Section 230 – No pre-arranged protection against risks [CTA 2010 s 230]
  • ▸ Chapter 3 – General conditions (ss 231-235)
    • Section 231 – No control of CDFI by investor [CTA 2010 s 231]
    • Section 232 – Investor must have beneficial ownership [CTA 2010 s 232]
    • Section 233 – Investor must not be accredited [CTA 2010 s 233]
    • Section 234 – No acquisition of share in partnership [CTA 2010 s 234]
    • Section 235 – No tax avoidance purpose [CTA 2010 s 235]
  • ▸ Chapter 4 – Limitations on claims and attribution (ss 236-241)
    • Limitations on claims (ss 236-239)
    • Attribution (ss 240-241)
  • ▸ Chapter 5 – Withdrawal or reduction of CITR (ss 242-255)
    • Introduction (ss 242)
    • Disposals (ss 243-244)
    • Repayment of loans (ss 245)
    • Receipts of value (ss 246-253)
    • CITR not due (ss 254)
    • Manner of withdrawal or reduction (ss 255)
  • ▸ Chapter 6 – Supplementary and general (ss 256-269)
    • Alternative finance arrangements (ss 256-259)
    • Miscellaneous (ss 260-264)
    • Definitions (ss 265-269)
▸ Part 7ZA – Restrictions on obtaining certain deductions (ss 269ZA-269ZZB)
  • ▸ Introduction (ss 269ZA)
    • Section 269ZA – Overview of Part [CTA 2010 s 269ZA]
  • ▸ Restrictions on obtaining certain deductions (ss 269ZB-269ZE)
    • Section 269ZB – Restriction on deductions from trading profits [CTA 2010 s 269ZB]
    • Section 269ZBA – Restriction on deductions from chargeable gains [CTA 2010 s 269ZBA]
    • Section 269ZC – Restriction on deductions from non-trading profits [CTA 2010 s 269ZC]
    • Section 269ZD – Restriction on deductions from total profits [CTA 2010 s 269ZD]
    • Section 269ZDA – References to a company’s “deductions allowance” [CTA 2010 s 269ZDA]
    • Section 269ZE – Restriction on deductions from total profits: insurance companies [CTA 2010 s 269ZE]
  • ▸ Relevant profits (ss 269ZF-269ZFA)
    • Section 269ZF – “Relevant trading profits”, “total relevant non-trading profits” etc. [CTA 2010 s 269ZF]
    • Section 269ZFA – “Relevant profits” [CTA 2010 s 269ZFA]
  • ▸ Modifications for certain insurance companies (ss 269ZFB-269ZFC)
    • Section 269ZFB – Modifications for certain insurance companies [CTA 2010 s 269ZFB]
    • Section 269ZFC – Restriction on deductions of non-BLAGAB allowable losses from BLAGAB chargeable gains [CTA 2010 s 269ZFC]
  • ▸ Exclusion for certain general insurance companies (ss 269ZG-269ZQ)
    • Section 269ZG – General insurance companies: excluded accounting periods [CTA 2010 s 269ZG]
    • Section 269ZH – “Insolvency procedures” [CTA 2010 s 269ZH]
    • Section 269ZI – “Qualifying latent claims” [CTA 2010 s 269ZI]
    • Section 269ZJ – Exclusion of shock losses from restrictions [CTA 2010 s 269ZJ]
    • Section 269ZK – Meaning of “shock loss”: requirement to make a claim [CTA 2010 s 269ZK]
    • Section 269ZL – Further provision about claims under section 269ZK [CTA 2010 s 269ZL]
    • Section 269ZM – Meaning of “solvency shock period” [CTA 2010 s 269ZM]
    • Section 269ZN – Determination of shock loss threshold [CTA 2010 s 269ZN]
    • Section 269ZO – Calculation of solvency loss [CTA 2010 s 269ZO]
    • Section 269ZP – Interpretation of sections 269ZJ to 269ZO [CTA 2010 s 269ZP]
    • Section 269ZQ – Power to amend [CTA 2010 s 269ZQ]
  • ▸ Deductions allowance (ss 296ZR-269ZZB)
    • Section 269ZR – Deductions allowance for company in a group [CTA 2010 s 269ZR]
    • Section 269ZS – Group deductions allowance and the nominated company [CTA 2010 S 269ZS]
    • Section 269ZSA – Group allowance nomination: former groups [CTA 2010 s 269ZSA]
    • Section 269ZT – Group allowance allocation statement: submission [CTA 2010 s 269ZT]
    • Section 269ZU – Group allowance allocation statement: submission of revised statement [CTA 2010 s 269ZU]
    • Section 269ZV – Group allowance allocation statement: requirements and effects [CTA 2010 s 269ZV]
    • Section 269ZVA – Group allowance allocation statement: former groups [CTA 2010 s 269ZVA]
    • Section 269ZW – Deductions allowance for company not in a group [CTA 2010 s 269ZW]
    • Section 269ZWA – Increase of deductions allowance for insolvent companies [CTA 2010 s 269ZWA]
    • Section 269ZX – Increase of deductions allowance in connection with onerous or impaired leases [CTA 2010 s 269ZX]
    • Section 269ZY – Meaning of “relevant reversal credit” [CTA 2010 s 269ZY]
    • Section 269ZYZA – Other relevant credits [CTA 2010 s 269ZYZA]
    • Section 269ZYA – Deductions allowance for company without a source of chargeable income [CTA 2010 s 269ZYA]
    • Section 269ZYB – Provisional application of section 269ZYA [CTA 2010 s 269ZYB]
    • Section 269ZZ – Company tax return to specify amount of deductions allowance [CTA 2010 s 269ZZ]
    • Section 269ZZA – Excessive specifications of deductions allowance [CTA 2010 s 269ZZA]
    • Section 269ZZB – Meaning of “group” [CTA 2010 s 269ZZB]
▸ Part 7A – Banking companies (ss 269A-296DO)
  • ▸ Chapter 1 – Introduction (s 269A)
    • Section 269A – Overview of Part [CTA 2010 s 269A]
  • ▸ Chapter 2 – Key definitions (ss 269B-269BE)
    • “Banking company” (ss 269B-269BC)
    • “Group” (ss 269BD)
    • Powers to amend (ss 269BE)
  • ▸ Chapter 3 – Restrictions on obtaining certain deductions (ss 269C-269CN)
    • Introduction (ss 269C)
    • Restrictions on obtaining certain deductions (ss 269CA-269CD)
    • Losses to which restrictions do not apply (ss 269CE-269CJ)
    • Anti-avoidance (ss 269CK)
    • Supplementary (ss 269CL-269CN)
  • ▸ Chapter 4 – Surcharge on banking companies (ss 269D-269DO)
    • Overview (ss 269D)
    • The surcharge (ss 269DA)
    • Non-banking group relief (ss 269DB-269DBA)
    • Non-banking or pre-2016 loss relief (ss 269DC-269DD)
    • The surcharge allowance (ss 269DE-269DK)
    • Application of Corporation Tax Acts: administration, double taxation etc. (ss 269DL-269DM)
    • Anti-avoidance (ss 269DN)
    • Interpretation (ss 269DO)
▸ Part 8 – Oil activities (ss 270-356JNB)
  • ▸ Chapter 1 – Introduction (s 270)
    • Section 270 – Overview of Part [CTA 2010 s 270]
  • ▸ Chapter 2 – Basic definitions (ss 271-278)
    • Section 271 – “Associated companies” [CTA 2010 s 271]
    • Section 272 – “Oil extraction activities” [CTA 2010 s 272]
    • Section 273 – “Oil rights” [CTA 2010 s 273]
    • Section 274 – “Oil-related activities” [CTA 2010 s 274]
    • Section 275 – “Ring fence income” [CTA 2010 . 275]
    • Section 276 – “Ring fence profits” [CTA 2010 s 276]
    • Section 277 – “Ring fence trade” [CTA 2010 s 277]
    • Section 278 – Other definitions [CTA 2010 s 278]
  • ▸ Chapter 3 – Deemed separate trade (s 279)
    • Section 279 – Oil-related activities treated as separate trade [CTA 2010 s 279]
  • ▸ Chapter 3A – Rates at which corporation tax is charge on ring fence profits (ss 279A-279H)
    • The rates (ss 279A)
    • Marginal relief (ss 279B-279DA)
    • The lower limit and the upper limit (ss 279E)
    • Supplementary (ss 279EA)
    • Related 51% group companies (ss 279F)
    • Augmented profits (ss 279G-279H)
  • ▸ Chapter 4 – Calculation of profits (ss 280-306)
    • Oil valuation (ss 280-285)
    • Hire of relevant assets (ss 285A)
    • Loan relationships (ss286-287A)
    • Sale and lease-back (ss 288)
    • Regional development grants (ss 289-290)
    • Tariff receipts etc. (ss 291-291B)
    • Abandonment guarantees (ss 292-295)
    • Abandonment expenditure (ss 296-298)
    • Receipts arising from decommissioning (ss 298A)
    • Deduction of PRT in calculating income for corporation tax purposes (ss 299-301)
    • Interest on repayment of PRT or APRT (ss 302)
    • Relief (ss 303-306)
  • ▸ Chapter 5 – Ring fence expenditure supplement (ss 307-329)
    • Introduction (ss 307)
    • Application and interpretation (ss 308-314)
    • Pre-commencement supplement (ss 315-320)
    • Post-commencement supplement (ss 321-329)
  • ▸ Chapter 5A – Extended ring fence expenditure supplement for onshore activities (ss 329A-329T)
    • Introduction (ss 329A)
    • Application and interpretation (ss 329B-329H)
    • Pre-commencement additional supplement (ss 329I-329M)
    • Post-commencement additional supplement (ss 329N-329T)
  • ▸ Chapter 6 – Supplementary charge in respect of ring fence trades (ss 330-332)
    • Section 330 – Supplementary charge in respect of ring fence trades [CTA 2010 s 330]
    • Section 330ZA – Ordering of allowances [CTA 2010 s 330ZA]
    • Section 330A – Decommissioning expenditure taken into account in calculating ring fence profits [CTA 2010 s 330A]
    • Section 330B – Decommissioning expenditure taken into account for PRT purposes [CTA 2010 S 330B]
    • Section 330C – Meaning of “decommissioning expenditure [CTA 2010 s 330C]
    • Section 331 – Meaning of “financing costs” etc. [CTA 2010 s 331]
    • Section 332 – Assessment, recovery and postponement of supplementary charge [CTA 2010 s 332]
  • ▸ Chapter 6A – Supplementary charge: investment allowance (ss 332A-332KA)
    • Introduction (ss 332A)
    • “Qualifying oil field” and “investment expenditure” (ss 332B-332BA)
    • Investment allowance (ss 332C-332CA)
    • Restrictions on relievable expenditure (ss 332D-332DC)
    • Reduction of adjusted ring fence profits (ss 332E-332EA)
    • Activated and unactivated allowance: basic calculation rules (ss 332F-332FC)
    • Changes in equity share: reference periods (ss 332G)
    • Changes in equity share: activation of allowance (ss 332H-332HB)
    • Transfers of allowance on disposal of equity share (ss 332I-332IB)
    • Miscellaneous (ss 332J-332JA)
    • Interpretation (ss 332K-332KA)
  • ▸ Chapter 7 – Reduction of supplementary charge for certain new oil fields (ss 333-356AA)
    • Reduction of adjusted ring fence profits (ss 333)
    • Pool of field allowances (ss 334-336)
    • Field allowance: when held and unactivated amount (ss 337-339)
    • No change in equity share: activation of allowance (ss 340-341)
    • Change in equity share: activation of allowance (ss 342-344)
    • Change in equity share: transfer of field allowance (ss 345-347)
    • Miscellaneous (ss 348-349)
    • Interpretation (ss 349A-357)
  • ▸ Chapter 8 – Supplementary charge: onshore allowance (ss 356B-356JB)
    • Introduction (ss 356B-356BC)
    • Onshore allowance (ss 356C-356CB)
    • Reduction of adjusted ring fence profits (ss 356D-356DB)
    • Activated and unactivated allowance: basic calculation rules (ss 356E-356EB)
    • Transfer of allowances between sites (ss 356F)
    • Changes in equity share: activation of allowance (ss 356G-356GD)
    • Transfers of allowance on disposal of equity share (ss 356H-356HB)
    • Miscellaneous (ss 356I-356IA)
    • Interpretation (ss 356IB-356JB)
  • ▸ Chapter 9 – Supplementary charge: cluster area allowance (ss 356JC-356JNB)
    • Introduction (ss 356JC)
    • Determination of cluster areas (ss 356JD-356JDA)
    • Meaning of “investment expenditure” (ss 356JE)
    • Cluster area allowance (ss 356JF-356JFA)
    • Reduction of adjusted ring fence profits (ss 356JG-356JGA)
    • Activated and unactivated allowance: basic calculation rules (ss 356JH-356JHB)
    • Changes in equity share: reference periods (ss 356JI)
    • Changes in equity share: activation of allowance (ss 356JJ-356JJA)
    • Transfers of allowance on disposal of equity share (ss 356JK-356JKB)
    • Use of allowance attributable to unlicensed area (ss 356JL)
    • Miscellaneous (ss 356JM-356JMA)
    • Interpretation (ss 356JN-356JNB)
▸ Part 8ZA – Oil Contractors (ss 356K-356NJ)
  • ▸ Chapter 1 – Introduction (s 356K)
    • Section 356K – Overview of Part [CTA 2010 s 356K]
  • ▸ Chapter 2 – Basic definitions (ss 356L-356LD)
    • Section 356L – “Oil contractor activities” etc. [CTA 2010 s 356L]
    • Section 356LA – “Relevant asset” [CTA 2010 s 356LA]
    • Section 356LB – “Associated person” [CTA 2010 s 356LB]
    • Section 356LC – “Lease” [CTA 2010 S 356LC]
    • Section 356LD – “Contractor’s ring fence profits” [CTA 2010 S 356LD]
  • ▸ Chapter 3 – Deemed separate trade (s 356M)
    • Section 356M – Oil contractor activities treated as separate trade [CTA 2010 s 356M]
  • ▸ Chapter 4 – Calculation of profits (ss 356N-356NJ)
    • Hire of relevant assets (ss 356N-356NA)
    • Loan relationships (ss 356NB-356NC)
    • Relief (ss 356ND-356NG)
    • Restriction on obtaining certain deductions (ss 356NH-356NJ)
▸ Part 8ZB – Transactions in UK land (ss 356OA-356OT)
  • ▸ Introduction (ss 356OA)
    • Section 356OA – Overview of Part [CTA 2010 s 356OA]
  • ▸ Amounts treated as profits of a trade (ss 356OB-356OF)
    • Section 356OB – Disposals of land in United Kingdom [CTA 2010 s 356OB]
    • Section 356OC – Disposals of land: profits treated as trading profits [CTA 2010 s 356OC]
    • Section 356OD – Disposals of property deriving its value from land in the United Kingdom [CTA 2010 s 356OD]
    • Section 356OE – Disposals within section 356OD: profits treated as trading profits [CTA 2010 s 356OE]
    • Section 356OF – Profits and losses [CTA 2010 s 356OF]
  • ▸ Person to whom profits attributed (ss 356OG)
    • Section 356OG – The chargeable company [CTA 2010 s 356OG]
  • ▸ Anti-fragmentation (ss 356OH)
    • Section 356OH – Fragmented activities [CTA 2010 s 356OH]
  • ▸ Calculation of profit or gain on disposal (ss 356OI-356OJ)
    • Section 356OI – Calculation of profit or gain on disposal [CTA 2010 s 356OI]
    • Section 356OJ – Apportionments [CTA 2010 s 356OJ]
  • ▸ Arrangements for avoiding tax (ss 356OK)
    • Section 356OK – Arrangements for avoiding tax [CTA 2010 s 356OK]
  • ▸ Exemption (ss 356OL)
    • Section 356OL – Profits attributable to period before relevant activities etc began [CTA 2010 s 356OL]
  • ▸ Other supplementary provisions (ss 356OM-356ON)
    • Section 356OM – Tracing value [CTA 2010 s 356OM]
    • Section 356ON – Relevance of transactions, arrangements, etc [CTA 2010 s 356ON]
  • ▸ Interpretation (ss 356OO-356OT)
    • Section 356OO – "Another person" [CTA 2010 s 356OO]
    • Section 356OP – "Arrangement" [CTA 2010 s 356OP]
    • Section 356OQ – "Disposal" [CTA 2010 s 356OQ]
    • Section 356OR – "Land" and related expressions [CTA 2010 s 356OR]
    • Section 356OS – References to realising a gain [CTA 2010 s 356OS]
    • Section 356OT – Related parties [CTA 2010 s 356OT]
▸ Part 8A – Profits arising from the exploitation of patents etc (ss 357A-357GE)
  • ▸ Chapter 1 – Reduced corporation tax rate for profits from patents etc. (ss 357A)
    • Section 357A – Election for special treatment of profits from patents etc. [CTA 2010 s 357A]
  • ▸ Chapter 2 – Qualifying companies (ss 357B-357BE)
    • Section 357B – Meaning of “qualifying company” [CTA 2010 S 357B]
    • Section 357BA – Meaning of “exclusive licence” [CTA 2010 s 357BA]
    • Section 357BB – Rights to which this Part applies [CTA 2010 s 357BB]
    • Section 357BBA – Rights to which this Part applies: EU rights [CTA 2010 s 357BBA]
    • Section 357BC – The development condition [CTA 2010 s 357BC]
    • Section 357BD – Meaning of “qualifying development” [CTA 2010 s 357BD]
    • Section 357BE – The active ownership condition [CTA 2010 s 357BE]
  • ▸ Chapter 2A – Relevant IP profits: cases mentioned in section 357A(6) (ss 357BF-357BNC)
    • Steps for calculating relevant IP profits of a trade (ss 357BF)
    • Finance income (ss 357BG)
    • Relevant IP income (ss 357BH-357BHC)
    • Excluded debits etc. (ss 357BI-357BIA)
    • Routine return figure (ss 357BJ-357BJB)
    • Marketing assets return figure (ss 357BK-357BKB)
    • R&D fraction (ss 357BL-357BLH)
    • Profits arising before grant of right (ss 357BM)
    • Small claims treatment (ss 357BN-357BNC)
  • ▸ Chapter 2B – Relevant IP profits: cases mentioned in section 357A(7): income from new IP (ss 357BO-357BQ)
    • Section 357BO – Relevant IP profits [CTA 2010 s 357BO]
    • Section 357BP – Meaning of “new qualifying IP right” and “old qualifying IP right” [CTA 2010 s 357BP]
    • Section 357BQ – The modifications [CTA 2010 s 357BQ]
  • ▸ Chapter 3 – Relevant IP profits (ss 357C-357CQ)
    • Steps for calculating relevant IP profits of a trade (ss 357C)
    • Total gross income of trade (ss 357CA-357CB)
    • Relevant IP income (ss 357CC-357CF)
    • Calculating profits of trade (ss 357CG-357CHA)
    • Routine return figure (ss 357CI-357CK)
    • Election for small claims treatment (ss 357CL-357CM)
    • Marketing assets return figure (ss 357CN-357CP)
    • Profits arising before grant of right (ss 357CQ)
  • ▸ Chapter 4 – Streaming (ss 357D-357DC)
    • Section 357D – Alternative method of calculating relevant IP profits: “streaming” [CTA 2010 s 357D]
    • Section 357DA – Relevant IP profits [CTA 2010 s 357DA]
    • Section 357DB – Method of allocation [CTA 2010 s 357DB]
    • Section 357DC – The mandatory streaming conditions [CTA 2010 s 357DC]
  • ▸ Chapter 5 – Relevant IP losses (ss 357E-357EF)
    • Section 357E – Company with relevant IP losses: set-off amount [CTA 2010 s 357E]
    • Section 357EA – Effect of set-off amount on company with more than one trade [CTA 2010 S 357EA]
    • Section 357EB – Allocation of set-off amount within a group [CTA 2010 s 357EB]
    • Section 357EC – Carry-forward of set-off amount [CTA 2010 s 357EC]
    • Section 357ED – Company ceasing to carry on trade, etc. [CTA 2010 s 357ED]
    • Section 357EE – Transfer of a trade between group members [CTA 2010 s 357EE]
    • Section 357EF – Payments between group members in consequence of section 357EB [CTA 2010 s 357EF]
  • ▸ Chapter 6 – Anti-avoidance (ss 357F-357FB)
    • Licences conferring exclusive rights (ss 357F)
    • Incorporation of qualifying items (ss 357FA)
    • Tax advantage schemes (ss 357FB)
  • ▸ Chapter 7 – Supplementary (ss 357G-357GE)
    • Elections under section 357A (ss 357G-357GA)
    • Partnerships (ss 357GB)
    • Cost-sharing arrangements (ss 357GC-357GCZF)
    • Transferred trades (ss 357GCA)
    • Interpretation (ss 357GD-357GE)
▸ Part 8B – Trading profits taxable at the Northern Ireland rate (ss 357H-357XI)
  • ▸ Chapter 1 – Introductory (s 357H)
    • Section 357H – Introduction [CTA 2010 s 357H]
  • ▸ Chapter 2 – The Northern Ireland rate (ss 357I-357IA)
    • Section 357I – The Northern Ireland rate [CTA 2010 s 357I]
    • Section 357IA – Power of Northern Ireland Assembly to set Northern Ireland rate [CTA 2010 s 357IA]
  • ▸ Chapter 3 – Northern Ireland rate applied to Northern Ireland profits and losses (ss 357J-357JJ)
    • Introductory (ss 357J)
    • Profits chargeable to corporation tax and rates (ss 357JA)
    • Loss relief in relation to Northern Ireland profits and losses: Chapter 2 of Part 4 (ss 357JB-357JC)
    • Loss relief in relation to Northern Ireland profits and losses: section 45 (ss 357JD-357JE)
    • Loss relief in relation to Northern Ireland profits and losses: Part 5 (ss 357JF-357JH)
    • Loss relief in relation to Northern Ireland profits and losses: Part 5A (ss 357JHA-357JHD)
    • Transfers of trade without a change of ownership: Chapter 1 of Part 22 (ss 357JI)
    • Restricted deductions (ss 357JJ)
  • ▸ Chapter 4 – Basic definitions (ss 357K-357KE)
    • Application of Chapter (ss 357K)
    • Meaning of “Northern Ireland company” (ss 357KA)
    • Meaning of “qualifying trade” (ss 357KB)
    • Meaning of “SME” (ss 357KC)
    • Meaning of “Northern Ireland employer” (ss 357KD-357KE)
    • Meaning of “disqualified close company” (ss 357KEA)
  • ▸ Chapter 5 – Northern Ireland regional establishments (ss 357L-357LK)
    • General (ss 357L)
    • Circumstances where there is no NIRE (ss 357LA-357LB)
    • Brokers (ss 357LC)
    • Investment managers (ss LD-357LH)
    • Lloyd's agents (ss 357LI)
    • Supplementary (ss 357LJ-357LK)
  • ▸ Chapter 6 – Northern Ireland profits and losses etc: SMEs [that are Northern Ireland employers] (ss 357M-357MB)
    • Section 357M – Introductory [CTA 2010 s 357M]
    • Section 357MA – Northern Ireland profits or losses and mainstream profits or losses [CTA 2010 s 357MA]
    • Section 357MB – Profit imputed to back-office activities [CTA 2010 s 357MB]
  • ▸ Chapter 7 – Northern Ireland profits and losses etc: large companies [SMEs that are not Northern Ireland employers and] (ss 357N-357NK)
    • Introductory (ss 357N)
    • Northern Ireland profits or losses and mainstream profits or losses (ss 357NA-357NB)
    • The separate enterprise principle (ss 357NC-357NE)
    • Rules about deductions and receipts (ss 357NF-357NI)
    • Supplementary (ss 357NJ-357NK)
  • ▸ Chapter 8 – Intangible fixed assets (ss 357O-357OP)
    • Introductory (ss 357O)
    • Calculating Northern Ireland profits or Northern Ireland losses (ss 357OA)
    • Northern Ireland intangibles credits and Northern Ireland intangibles debits (ss 357OB-357OC)
    • Realisation credits and realisation debits (ss 357OD-357OG)
    • Pre-commencement assets (ss 357OH-357OL)
    • Assets treated as pre-commencement assets (ss 357OM-357OO)
    • Interpretation (ss 357OP)
  • ▸ Chapter 9 – Research and development expenditure (ss 357P-357PF)
    • Introductory (ss 357P)
    • Chapter 1A – of Part 13 of CTA 2009 (ss 357PA)
    • Chapter 2 – of Part 13 of CTA 2009 (ss 357PB-357PE)
    • Chapter 7 – of Part 13 of CTA 2009 (ss 357PF)
  • ▸ Chapter 10 – Remediation of contaminated or derelict land (ss 357Q-357QD)
    • Introductory (ss 357Q)
    • Additional deduction under section 1149 of CTA 2009 (ss 357QA)
    • Tax credit under section 1151 of CTA 2009 (ss 357QB-357QD)
  • ▸ Chapter 10A – Films, television programmes and video games qualifying for expenditure credit (ss 357QE-357QH)
    • Introduction (s 357QE)
    • Expenditure credit (s 357QF)
    • Losses of separate trade (ss 357QG-357QH)
  • ▸ Chapter 11 – Film tax relief (ss 357R-357RH)
    • Introductory (ss 357R)
    • Film tax relief (ss 357RA-357RE)
    • Film losses (ss 357RF-357RH)
  • ▸ Chapter 12 – Television production (ss 357S-357SH)
    • Introductory (ss 357S)
    • Television tax relief (ss 357SA-357SE)
    • Programme losses (ss 357SF-357SH)
  • ▸ Chapter 13 – Video games development (ss 357T-357TH)
    • Introductory (ss 357T)
    • Video games tax relief (ss 357TA-357TE)
    • Video game losses (ss 357TF-357TH)
  • ▸ Chapter 14 – Theatrical productions (ss 357U-357UI)
    • Introductory (ss 357U)
    • Tax relief for theatrical productions (ss 357UA-357UE)
    • Use of losses (ss 357UF-357UH)
    • Provisional entitlement to relief (ss 357UI)
  • ▸ Chapter 14A – Orchestra Tax Relief (ss 357UJ-357UQ)
    • Introductory (ss 357UJ)
    • Orchestra tax relief (ss 357UK-357UN)
    • Losses of separate orchestral trade (ss 357UO-357UQ)
  • ▸ Chapter 14B – Museums and galleries exhibition tax relief (ss 357UR-357UY)
    • Introductory (ss 357UR)
    • Museums and galleries exhibition tax relief (ss 357US-357UV)
    • Losses of separate exhibition trade (ss 357UW-357UY)
  • ▸ Chapter 15 – Profits arising from the exploitation of patents etc. (ss 557V-357VE)
    • Introductory (ss 357V)
    • Modification of deduction (ss 357VA)
    • “Relevant Northern Ireland IP profits” (ss 357VB-357VC)
    • Relevant IP losses (ss 357VD)
    • Interpretation (ss 357VE)
  • ▸ Chapter 16 – Northern Ireland profits and losses etc: partnerships (ss 357W-357WH)
    • Section 357W – Introductory [CTA 2010 s 357W]
    • Section 357WA – Meaning of “Northern Ireland firm” [CTA 2010 s 357WA]
    • Section 357WB – Meaning of “qualifying partnership trade” [CTA 2010 s 357WB]
    • Section 357WBA – Northern Ireland workforce partnership conditions [CTA 2010 s 357WBA]
    • Section 357WBB – Section 357WBA: supplementary [CTA 2010 s 357WBB]
    • Section 357WBC – “Disqualified firm” [CTA 2010 s 357WBC]
    • Section 357WC – Northern Ireland profits etc. of firm determined under Chapter 6 [CTA 2010 s 357WC]
    • Section 357WD – Northern Ireland profits etc. of firm determined under Chapter 7 [CTA 2010 s 357WD]
    • Section 357WE – Sections 357WC and 357WD: interpretation [CTA 2010 s 357WE]
    • Section 357WF – Application of section 747 of CTA 2009 to Northern Ireland firm [CTA 2010 s 357WF]
    • Section 357WG – Application of Part 8A to Northern Ireland firm [CTA 2010 s 357WG]
    • Section 357WH – Allocation of Northern Ireland profits etc. of firm to company [CTA 2010 s 357WH]
  • ▸ Chapter 17 – Excluded trades, excluded activities and back-office activities (ss 357X-357XI)
    • Introductory (ss 357X)
    • Excluded trades (ss 357XA-357XE)
    • Excluded activities (ss 357XF-357XG)
    • Powers (ss 357XH-357XI)
▸ Part 8C – Restitution Interest (ss 357YA-357YW)
  • ▸ Chapter 1 – Amounts taxed as restitution interest (ss 357YA-357YJ)
    • Section 357YA – Charge to corporation tax on restitution interest [CTA 2010 s 357YA]
    • Section 357YB – Restitution interest chargeable as income [CTA 2010 s 357YB]
    • Section 357YC – Meaning of “restitution interest” [CTA 2010 s 357YC]
    • Section 357YD – Further provision about amounts included, or not included, in “restitution interest” [CTA 2010 s 357YD]
    • Section 357YDA – Life insurance companies: amounts representing policyholder income [CTA 2010 s 357YDA]
    • Section 357YE – Period in which amounts are to be brought into account [CTA 2010 s 357YE]
    • Section 357YF – Companies without GAAP-compliant accounts [CTA 2010 s 357YF]
    • Section 357YG – Restitution interest: appeals made out of time [CTA 2010 s 357YG]
    • Section 357YH – Countering effect of avoidance arrangements [CTA 2010 s 357YH]
    • Section 357YI – Interpretation of section 357YH [CTA 2010 s 357YI]
    • Section 357YJ – Examples of results that may indicate exclusion not applicable [CTA 2010 s 357YJ]
  • ▸ Chapter 2 – Application of restitution payments rate (ss 357YK-357YL)
    • Section 357YK – Corporation tax rate on restitution interest [CTA 2010 s 357YK]
    • Section 357YL – Exclusion of reliefs, set-offs etc. [CTA 2010 s 357YL]
  • ▸ Chapter 3 – Migration, transfers of rights etc. (ss 357YM-357YNB)
    • Section 357YM – Assignment of rights to person not chargeable to corporation tax [CTA 2010 s 357YM]
    • Section 357YN – Migration of company with claim to restitution interest [CTA 2010 s 357YN]
    • Section 357YNA – Transfer of rights: restitution interest arising after a winding up or dissolution [CTA 2010 s 357YNA]
    • Section 357YNB – Meaning of “related company” [CTA 2010 s 357YNB]
  • ▸ Chapter 4 – Payment and collection of tax on restitution interest (ss 357YO-357YT)
    • Section 357YO – Duty to deduct tax from payments of restitution interest [CTA 2010 s 357YO]
    • Section 357YP – Treatment of amounts deducted under section 357YO [CTA 2010 s 357YP]
    • Section 357YQ – Assessment of tax chargeable on restitution interest [CTA 2010 s 357YQ]
    • Section 357YR – Interest on excessive amounts withheld [CTA 2010 s 357YR]
    • Section 357YS – Appeal against deduction [CTA 2010 s 357YS]
    • Section 357YT – Amounts taxed at restitution payments rate to be outside instalment payments regime [CTA 2010 s 357YT]
  • ▸ Chapter 5 – Supplementary provisions (ss 357YU-357YW)
    • Section 357YU – Interpretation [CTA 2010 s 357YU]
    • Section 357YV – Relationship of Part with other corporation tax provisions [CTA 2010 s 357YV]
    • Section 357YW – Power to amend [CTA 2010 s 357YW]
▸ Part 9 – Leasing plant or machinery (ss 358-437C)
  • ▸ Chapter 1 – Introduction (ss 358)
    • Section 358 – Introduction to Part [CTA 2010 s 358]
  • ▸ Chapter 2 – Long funding leases of plant or machinery (ss 359-381)
    • Introduction (ss 359)
    • Lessors under long funding finance leases (ss 360-362)
    • Lessors under long funding operating leases (ss 363-369)
    • Cases where sections 360 to 369 do not apply (ss 370-376)
    • Lessees under long funding finance leases (ss 377-378)
    • Lessees under long funding operating leases (ss 379-380)
    • Interpretation (ss 381)
  • ▸ Chapter 3 – Sales of lessors: leasing business carried on by a company alone (ss 382-408)
    • Introduction (ss 382)
    • Income and matching expense in different accounting periods (ss 383-386)
    • “Business of leasing plant or machinery” (ss 387-391)
    • “Relevant change in relationship” (ss 392-394ZA)
    • “Qualifying change of ownership” (ss 394A-398)
    • Election out of qualifying change of ownership (ss 398A-398G)
    • The amount of the income (ss 399-407)
    • “Associated company” (ss 408)
  • ▸ Chapter 4 – Sales of lessors: leasing business carried on by a company in partnership (ss 409-421)
    • Introduction (ss 409)
    • “Business of leasing plant or machinery” (ss 410-414)
    • “Qualifying change” in company's interest in a business (ss 415-416)
    • Qualifying changes in partner company's interest in business (ss 417-424)
    • Qualifying changes of ownership in relation to partner company (ss 425-429)
    • Interpretation (ss 430-431)
  • ▸ Chapter 5 – Sales of lessors: anti-avoidance provisions (ss 432-436)
    • Section 432 – Restrictions on relief for Chapter 3 or 4 expenses: introduction [CTA 2010 s 432]
    • Section 433 – Restrictions applying to the restricted loss amount [CTA 2010 s 433]
    • Section 433A – Restrictions not applying to the restricted loss amount [CTA 2010 s 433A]
    • Section 434 – Introduction to sections 435 and 436 [CTA 2010 s 434]
    • Section 435 – Disregard of increases and decreases in certain amounts [CTA 2010 s 435]
    • Section 436 – Balance sheet amounts determined on assumption company has no liabilities [CTA 2010 s 436]
  • ▸ Chapter 6 – Sales of lessors: general interpretation (ss 437-437C)
    • Section 437 – Interpretation of the sales of lessors Chapters [CTA 2010 s 437]
    • Section 437A – Determining the ascribed value of plant and machinery [CTA 2010 s 437A]
    • Section 437B – Section 437A: supplementary [CTA 2010 s 437B]
    • Section 437C – Present value of a lease [CTA 2010 s 437C]
▸ Part 10 – Close companies (ss 438-465)
  • ▸ Chapter 1 – Overview of Part (s 438)
    • Section 438 – Overview of Part [CTA 2010 s 438]
  • ▸ Chapter 2 – Basic definitions (ss 439-454)
    • Meaning of “close company": general (ss 439-441)
    • Companies which are not to be close companies (ss 442-447)
    • Meaning of other expressions in this Part (ss 448-454)
  • ▸ Chapter 3 – Charge to tax in case of loan to participator (ss 455-464)
    • Charge to tax in case of loan to participator (ss 455)
    • Exceptions to the charge to tax under section 455 (ss 456-457)
    • Relief in case of repayment or release of loan (ss 458)
    • Loan treated as made to participator (ss 459)
    • Loan treated as made by close company (ss 460-462)
    • Taxation of debtor on release of loan to trustees of settlement which has ended (ss 463-464)
  • ▸ Chapter 3A – Charge to tax: other arrangements (ss 464A-464B)
    • Section 464A – Charge to tax: arrangements conferring benefit on participator [CTA 2010 s 464A]
    • Section 464B – Relief in case of return payment to company [CTA 2010 s 464B]
  • ▸ Chapter 3B – repayments and return payments (ss 464C-464D)
    • Section 464C – Treatment of certain repayments and return payments [CTA 2010 s 464C]
    • Section 464D – Section 464C: supplementary [CTA 2010 S 464D]
  • ▸ Chapter 4 – Power to obtain information (s 465)
    • Section 465 – Power to obtain information [CTA 2010 s 465]
▸ Part 11 – Charitable companies etc (ss 466-517)
  • ▸ Chapter 1 – Introduction (ss 466-470)
    • Section 466 – Overview of Part [CTA 2010 s 466]
    • Section 467 – Meaning of “charitable company” [CTA 2010 s 467]
    • Section 468 – Meaning of “eligible body” [CTA 2010 s 468]
    • Section 469 – Conditions for qualifying as a scientific research association [CTA 2010 s 469]
    • Section 470 – Meaning of “research and development” in section 469 [CTA 2010 s 470]
  • ▸ Chapter 2 – Gifts and other payments (ss 471-477A)
    • Gifts and other payments to charitable companies (ss 471-474)
    • Gifts to eligible bodies (ss 475-476)
    • Gifts to scientific research associations (ss 477)
    • Claims (ss 477A)
  • ▸ Chapter 3 – Other exemptions (ss 478-491A)
    • Exemptions (ss 478-489)
    • Application of exemptions to certain bodies (ss 490-491)
    • Claims (ss 491A)
  • ▸ Chapter 4 – Restrictions on exemptions (ss 492-517)
    • Restrictions on exemptions (ss 492-495)
    • Non-charitable expenditure (ss 496-501)
    • Substantial donor transactions (ss 502-510)
    • Approved charitable investments and loans (ss 511-514)
    • Carry back of excess non-charitable expenditure (ss 515-517)
▸ Part 12 – Real Estate Investment Trusts (ss 518-609)
  • ▸ Chapter 1 – Introduction (ss 518-522)
    • Introductory (ss 518)
    • Key concepts (ss 519-522)
  • ▸ Chapter 2 – Requirements for being a UK REIT (ss 523-533)
    • Becoming a UK REIT (ss 523-526)
    • Being a UK REIT in relation to an accounting period (ss 527-533)
  • ▸ Chapter 3 – Tax treatment of profits and gains of UK REITs (ss 534-535B)
    • Section 534 – Profits [CTA 2010 s 534]
    • Section 535 – Gains [CTA 2010 s 535]
    • Section 535A – Gains: disposals of rights or interests in UK property rich companies [CTA 2010 s 535A]
    • Section 535B – Section 535A: use of pre-April 2019 residual business losses or deficits [CTA 2010 s 535B]
  • ▸ Chapter 4 – Entering the UK REIT regime (ss 536-540)
    • Section 536 – Effects of entry: corporation tax [CTA 2010 s 536]
    • Section 537 – Effects of entry: CAA 2001 [CTA 2010 s 537]
    • Section 538 – Entry charge [CTA 2010 s 538]
    • Section 539 – Calculation of the notional amount [CTA 2010 s 539]
    • Section 540 – Election to treat notional income as arising in instalments [CTA 2010 s 540]
  • ▸ Chapter 5 – Assets etc. (ss 541-547)
    • Ring-fencing of property rental business (ss 541-542)
    • Profits: financing-cost ratio (ss 543-544)
    • Cancellation of tax advantage (ss 545-546)
    • Funds awaiting reinvestment (ss 547)
  • ▸ Chapter 6 – Distributions (ss 548-554A)
    • Recipients of distributions (ss 548-549A)
    • Attribution of distributions (ss 550)
    • Distributions to certain shareholders (ss 551-554A)
  • ▸ Chapter 7 – Gains etc (ss 555-560)
    • Movement of assets (ss 555-557)
    • Demergers (ss 558-559)
    • Interpretation (ss 560)
  • ▸ Chapter 8 – Breach of conditions in Chapter 2 (ss 561-569)
    • Section 561 – Notice of breach of relevant Chapter 2 condition [CTA 2010 s 561]
    • Section 562 – Breach of condition C in section 528 (conditions for company) [CTA 2010 s 562]
    • Section 562A – Breach of condition D in section 528 (conditions for company) [CTA 2010 s 562A]
    • Section 562B – Breach of further condition relating to shares [CTA 2010 s 562B]
    • Section 562C – Breach of further condition relating to shares in accounting periods 1, 2 and 3 [CTA 2010 s 562C]
    • Section 563 – Breach of property rental business condition [CTA 2010 s 563]
    • Section 564 – Breach of condition as to distribution of profits [CTA 2010 s 564]
    • Section 565 – “The section 565 amount” [CTA 2010 s 565]
    • Section 566 – Breach of condition B in section 531 in accounting period 1 [CTA 2010 s 566]
    • Section 567 – Meaning of “the notional amount” [CTA 2010 s 567]
    • Section 568 – Breach of balance of business conditions after accounting period 1 [CTA 2010 s 568]
    • Section 569 – Chapter subject to section 572 [CTA 2010 s 569]
  • ▸ Chapter 9 – Leaving the UK REIT regime (ss 570-582)
    • Introduction (ss 570)
    • Notice to leave regime (ss 571-577)
    • Automatic termination (ss 578)
    • Effects of cessation (ss 579-580)
    • Early exit (ss 581-582)
  • ▸ Chapter 10 – Joint ventures (ss 583-598)
    • Introduction (ss 583-585)
    • Notice for Part to apply to joint venture (ss 586-587)
    • Effect and duration of notice (ss 588-590)
    • Specific requirements and modifications (ss 591-597)
    • Supplementary (ss 598)
  • ▸ Chapter 11 – Part 12: supplementary (ss 599-609)
    • Miscellaneous (ss 599-603)
    • Interpretation (ss 604-609)
▸ Part 13 – Other special types of company etc (ss 610-671)
  • ▸ Chapter 1 – Corporate beneficiaries under trusts (ss 610-611)
    • Discretionary payments (ss 610)
    • Trustees' expenses (ss 611)
  • ▸ Chapter 2 – Authorised investment funds (ss 612-620)
    • Introduction (ss 612)
    • Open-ended investment companies (ss 613-615)
    • Authorised unit trusts (ss 616-619)
    • Court investment funds (ss 620)
  • ▸ Chapter 3 – Unauthorised unit trusts (ss 621-622)
    • Section 621 – Treatment of income [CTA 2010 s 621]
    • Section 622 – Treatment of capital expenditure [CTA 2010 s 622]
  • ▸ Chapter 3A – Investment trusts (ss 622A)
    • Section 622A – Power to make provision about treatment of transactions [CTA 2010 s 622A]
  • ▸ Chapter 4 – Securitisation companies (ss 623-625)
    • Section 623 – Meaning of “securitisation company” [CTA 2010 s 623]
    • Section 624 – Power to make regulations about the taxation of securitisation companies [CTA 2010 s 624]
    • Section 625 – Regulations: supplementary [CTA 2010 s 625]
  • ▸ Chapter 5 – Companies in liquidation or administration (ss 626-633)
    • Introduction (ss 626-627)
    • Companies in liquidation (ss 628-629)
    • Companies in administration (ss 630-631)
    • Supplementary (ss 632-633)
  • ▸ Chapter 6 – Banks etc. in compulsory liquidation (ss 634-641)
    • Section 634 – Overview of Chapter [CTA 2010 s 634]
    • Section 635 – Application of Chapter [CTA 2010 s 635]
    • Section 636 – Charge to corporation tax on winding up receipts [CTA 2010 s 636]
    • Section 637 – Transfer of rights to payment [CTA 2010 s 637]
    • Section 638 – Allowable deductions [CTA 2010 s 638]
    • Section 639 – Election to carry back [CTA 2010 s 639]
    • Section 640 – Relationship of Chapter with other corporation tax provisions [CTA 2010 s 640]
    • Section 641 – Interpretation of Chapter [CTA 2010 s 641]
  • ▸ Chapter 7 – Co-operative housing associations (ss 642-649)
    • Section 642 – Disregard of rent from members and of interest payable [CTA 2010 s 642]
    • Section 643 – Exemption for gains on a sale of property [CTA 2010 s 643]
    • Section 644 – Approval of housing associations [CTA 2010 s 644]
    • Section 645 – Tests to be satisfied by the association [CTA 2010 s 645]
    • Section 646 – Delegation of powers to the Regulator of Social Housing [CTA 2010 s 646]
    • Section 647 – Claims under section 642 or 643 [CTA 2010 s 647]
    • Section 648 – Adjustments of liability [CTA 2010 s 648]
    • Section 649 – Power to make further provision [CTA 2010 s 649]
  • ▸ Chapter 8 – Self-build societies (ss 650-657)
    • Section 650 – Meaning of “self-build society” [CTA 2010 s 650]
    • Section 651 – Disregard of rent from members [CTA 2010 s 651]
    • Section 652 – Exemption for gains on disposals of land to members [CTA 2010 s 652]
    • Section 653 – Approval of self-build societies [CTA 2010 s 653]
    • Section 654 – Delegation of powers to the Regulator of Social Housing [CTA 2010 s 654]
    • Section 655 – Claims under section 651 or 652 [CTA 2010 s 655]
    • Section 656 – Adjustments of liability [CTA 2010 s 656]
    • Section 657 – Power to make further provision [CTA 2010 s 657]
  • ▸ Chapter 9 – Community amateur sports clubs (ss 658-671)
    • Basic concepts (ss 658-661CA)
    • Gifts ... relief (ss 661D-661E)
    • Exemptions (ss 662-665)
    • Claims (ss 665A)
    • Restrictions on exemptions (ss 666-668)
    • Deemed disposal and acquisition of asset (ss 669)
    • Decisions and appeals (ss 670-671)
▸ Part 14 – Change in company ownership (ss 672-730)
  • ▸ Chapter 1 – Introduction (s 672)
    • Section 672 – Overview of Part [CTA 2010 s 672]
  • ▸ Chapter 2 – Disallowance of trading losses (ss 673-676)
    • Section 673 – Introduction to Chapter [CTA 2010 s 673]
    • Section 674 – Disallowance of trading losses [CTA 2010 s 674]
    • Section 674A – Section 674: exception for certain losses of ring fence trade [CTA 2010 s 674A]
    • Section 675 – Disallowance of trading losses: calculation of balancing charges [CTA 2010 s 675]
    • Section 676 – Company reconstructions [CTA 2010 s 676]
  • ▸ Chapter 2A – Post-1 April 2017 losses: Further cases involving a change in the company’s activities (ss 676AA-676AL)
    • Section 676AA – Introduction to Chapter [CTA 2010 s 676AA]
    • Section 676AB – Priority of provisions of Chapters 2 and 3 over this Chapter [CTA 2010 s 676AB]
    • Section 676AC – “Major change in the business” of a company [CTA 2010 s 676AC]
    • Section 676AD – Notional split of accounting period in which change in ownership occurs [CTA 2010 s 676AD]
    • Section 676AE – “Affected profits” [CTA 2010 s 676AE]
    • Section 676AF – Restriction on use of carried-forward post-1 April 2017 trade losses [CTA 2010 s 676AF]
    • Section 676AG – Restriction on debits to be brought into account [CTA 2010 s 676AG]
    • Section 676AH – Restriction on the carry forward of post-1 April 2017 non-trading deficit from loan relationships [CTA 2010 s 676AH]
    • Section 676AI – Restriction on relief for post-1 April 2017 non-trading loss on intangible fixed assets [CTA 2010 s 676AI]
    • Section 676AJ – Restriction on deduction of post-1 April 2017 expenses of management [CTA 2010 s 676AJ]
    • Section 676AK – Restriction on use of post-1 April 2017 UK property business losses [CTA 2010 s 676AK]
    • Section 676AL – “Co-transferred company” and “related company” [CTA 2010 s 676AL]
  • ▸ Chapter 2B – Asset transferred within group: restriction of relief for post-1 April trade losses (ss 676BA-676BE)
    • Section 676BA – Introduction to Chapter [CTA 2010 s 676BA]
    • Section 676BB – Notional split of accounting period in which change in ownership occurs [CTA 2010 s 676BB]
    • Section 676BC – Disallowance of relief for trade losses [CTA 2010 s 676BC]
    • Section 676BD – Meaning of “the relevant provisions” [CTA 2010 s 676BD]
    • Section 676BE – Meaning of “amount of profits which represents a relevant gain” [CTA 2010 s 676BE]
  • ▸ Chapter 2C – Disallowance of group relief for carried-forward losses: general provision (ss 676CA-676CI)
    • Section 676CA – Introduction to Chapter [CTA 2010 s 676CA]
    • Section 676CB – Restriction on surrender of carried-forward losses [CTA 2010 s 676CB]
    • Section 676CC – Cases where consortium condition 1 or 2 was previously met [CTA 2010 s 676CC]
    • Section 676CD – Cases where consortium condition 3 or 4 was previously met [CTA 2010 s 676CD]
    • Section 676CE – Exceptions to restrictions [CTA 2010 s 676CE]
    • Section 676CF – Cases where Chapter 2, 2A or 3 also applies [CTA 2010 s 676CF]
    • Section 676CG – “Affected profits” [CTA 2010 s 676CG]
    • Section 676CH – “Relevant pre-acquisition loss” [CTA 2010 s 676CH]
    • Section 676CI – Interpretation of Chapter [CTA 2010 s 676CI]
  • ▸ Chapter 2D – Asset transferred within group: Restriction of group relief for carried-forward losses (ss 676DA-676DE)
    • Section 676DA – Introduction to Chapter [CTA 2010 s 676DA]
    • Section 676DB – Notional split of accounting period in which change in ownership occurs [CTA 2010 s 676DB]
    • Section 676DC – Disallowance of group relief for carried-forward losses [CTA 2010 s 676DC]
    • Section 676DD – Meaning of “the relevant provisions” [CTA 2010 s 676DD]
    • Section 676DE – Meaning of “amount of profits which represents a relevant gain” [CTA 2010 s 676DE]
  • ▸ Chapter 2E – Post-1 April 2017 trade losses: cases involving the transfer of a trade (ss 676EA-676EE)
    • Section 676EA – Introduction to Chapter [CTA 2010 s 676EA]
    • Section 676EB – Restriction on use of trade losses carried-forward on transfer of trade [CTA 2010 s 676EB]
    • Section 676EC – Restriction on surrender of trade losses carried forward on transfer of trade [CTA 2010 s 676EC]
    • Section 676ED – Indirect transfers of a trade [CTA 2010 s 676ED]
    • Section 676EE – Interpretation of Chapter [CTA 2010 s 676EE]
  • ▸ Chapter 3 – Company with investment business: restrictions on relief: general provision (ss 677-691)
    • Introduction (ss 677)
    • Notional split of accounting period in which change in ownership occurs (ss 678)
    • Restrictions on relief (ss 679-684)
    • Apportionment of amounts (ss 685-686)
    • Adjustment to balancing charges if relief is restricted (ss 687)
    • Meaning of “significant increase in the amount of a company's capital” (ss 688-691)
  • ▸ Chapter 4 – Company with investment business: restrictions on relief: asset transferred within group (ss 692-703)
    • Introduction (ss 692-694)
    • Notional split of accounting period in which change in ownership occurs (ss 695)
    • Restrictions on relief (ss 696-701)
    • Apportionment of amounts (ss 702-703)
  • ▸ Chapter 5 – Company without investment business: disallowance of property losses (ss 704-705)
    • Section 704 – Company carrying on UK property business [CTA 2010 s 704]
    • Section 705 – Company carrying on overseas property business [CTA 2010 s 705]
  • ▸ Chapter 5A – Shell companies: restrictions on relief (ss 705A-705G)
    • Introduction (ss 705A-705B)
    • Restrictions on relief (ss 705C-705E)
    • Apportionment of amounts (ss 705F-705G)
  • ▸ Chapter 6 – Recovery of unpaid corporation tax (ss 706-718)
    • General definitions (ss 706-709)
    • Recovery of unpaid corporation tax for accounting period beginning before change (ss 710-712)
    • Recovery of unpaid corporation tax for accounting period ending on or after change (ss 713-715)
    • Miscellaneous (ss 716-718)
  • ▸ Chapter 7 – Meaning of “change in the ownership of a company” (ss 719-726)
    • Meaning of “change in the ownership of a company” (ss 719-722)
    • Changes in indirect ownership (ss 723)
    • Disregard of change in ownership (ss 724-724A)
    • Supplementary provision (ss 725-726)
  • ▸ Chapter 8 – Supplementary provision (ss 727-730)
    • Section 727 – Extended time limit for assessment [CTA 2010 s 727]
    • Section 728 – Provision of information about ownership of shares etc [CTA 2010 s 728]
    • Section 729 – Meaning of “company with investment business” [CTA 2010 s 729]
    • Section 730 – Meaning of “relevant non-trading debit” [CTA 2010 s 730]
▸ Part 14A – Transfer of deductions (ss 730A-730D)
  • Section 730A – Overview [CTA 2010 s 730A]
  • Section 730B – Interpretation of Part [CTA 2010 s 730B]
  • Section 730C – Disallowance of deductible amounts: relevant claims [CTA 2010 s 730C]
  • Section 730D – Disallowance of deductible amounts: profit transfers [CTA 2010 s 730D]
▸ Part 14B – Tax avoidance involving carried-forward losses (ss 730E-730H)
  • Section 730E – Overview [CTA 2010 s 730E]
  • Section 730F – Meaning of “relevant carried-forward loss” [CTA 2010 s 730F]
  • Section 730G – Disallowance of deductions for relevant carried-forward losses [CTA 2010 s 730G]
  • Section 730H – Interpretation of section 730G [CTA 2010 s 730H]
▸ Part 15 – Transactions in securities (ss 731-751)
  • ▸ Introduction (ss 731-732)
    • Section 731 – Overview of Part [CTA 2010 s 731]
    • Section 732 – Meaning of “corporation tax advantage” [CTA 2010 s 732]
  • ▸ Company liable to counteraction of corporation tax advantage (ss 733-734)
    • Section 733 – Company liable to counteraction of corporation tax advantage [CTA 2010 s 733]
    • Section 734 – Exception where no tax avoidance object shown [CTA 2010 s 734]
  • ▸ Circumstances in which corporation tax advantages obtained or obtainable (ss 735-742)
    • Section 735 – Abnormal dividends used for exemptions or reliefs (circumstance A) [CTA 2010 s 735]
    • Section 736 – Receipt of consideration representing company’s assets, future receipts or trading stock (circumstance C) [CTA 2010 s 736]
    • Section 737 – Receipt of consideration in connection with relevant company distribution (circumstance D) [CTA 2010 s 737]
    • Section 738 – Receipt of assets of relevant company (circumstance E) [CTA 2010 s 738]
    • Section 739 – Meaning of “relevant company” in sections 737 and 738 [CTA 2010 s 739]
    • Section 740 – Abnormal dividends: general [CTA 2010 s 740]
    • Section 741 – Abnormal dividends: the excessive return condition [CTA 2010 s 741]
    • Section 742 – Abnormal dividends: the excessive accrual condition [CTA 2010 s 742]
  • ▸ Procedure for counteraction of corporation tax advantages (ss 743-747)
    • Section 743 – Preliminary notification that section 733 may apply [CTA 2010 s 743]
    • Section 744 – Opposed notifications: statutory declarations [CTA 2010 s 744]
    • Section 745 – Opposed notifications: determinations by tribunal [CTA 2010 s 745]
    • Section 746 – Counteraction notices [CTA 2010 s 746]
    • Section 747 – Timing of assessments in section 738 cases [CTA 2010 s 747]
  • ▸ Clearance procedure (ss 748-749)
    • Section 748 – Application for clearance of transactions [CTA 2010 s 748]
    • Section 749 – Effect of clearance notification under section 748 [CTA 2010 s 749]
  • ▸ Appeals (ss 750)
    • Section 750 – Appeals against counteraction notices [CTA 2010 s 750]
  • ▸ Interpretation (ss 751)
    • Section 751 – Interpretation of Part [CTA 2010 s 751]
▸ Part 16 – Factoring of income etc. (ss 752-779B)
  • ▸ Chapter 1 – Transfers of income streams (ss 752-757)
    • Section 752 – Application of Chapter [CTA 2010 s 752]
    • Section 753 – Value of transferred income stream treated as income [CTA 2010 s 753]
    • Section 754 – Exception: amount otherwise taxed [CTA 2010 s 754]
    • Section 755 – Exception: transfer by way of security [CTA 2010 s 755]
    • Section 756 – Partnership shares [CTA 2010 s 756]
    • Section 757 – Interpretation of Chapter [CTA 2010 s 757]
  • ▸ Chapter 1A – Disposals of income streams through partnerships (ss 757A-757B)
    • Section 757A – Application of Chapter [CTA 2010 s 757A]
    • Section 757B – Relevant amount to be treated as income [CTA 2010 s 757B]
  • ▸ Chapter 2 – Finance arrangements (ss 758-776)
    • Type 1 arrangements (ss 758-762)
    • Type 2 arrangements (ss 763-766)
    • Type 3 arrangements (ss 767-769)
    • Exceptions (ss 770-773)
    • Supplementary (ss 774-776)
  • ▸ Chapter 3 – Loan or credit transactions (ss 777-779)
    • Section 777 – Loan or credit transaction defined [CTA 2010 s 777]
    • Section 778 – Certain payments treated as interest [CTA 2010 s 778]
    • Section 779 – Tax charged on income transferred [CTA 2010 s 779]
  • ▸ Chapter 4 – Disposals of assets through partnerships (ss 779A-779B)
    • Section 779A – Application of Chapter [CTA 2010 s 779A]
    • Section 779B – Relevant amount to be treated as income [CTA 2010 s 779B]
▸ Part 17 – Manufactured payments and repos (ss 780-814)
  • ▸ Chapter 1 – Introduction (ss 780-781)
    • Section 780 – Overview of Part [CTA 2010 s 780]
    • Section 781 – Key definitions [CTA 2010 s 781]
  • ▸ Chapter 2 – Manufactured dividends (ss 782-789)
    • Section 782 – Meaning of “manufactured dividend” [CTA 2010 s 782]
    • Section 783 – Treatment of payer of manufactured dividend [CTA 2010 s 783]
    • Section 784 – Treatment of recipient of manufactured dividend [CTA 2010 s 784]
    • Section 785 – Treatment of payer: Real Estate Investment Trusts [CTA 2010 s 785]
    • Section 786 – Treatment of recipient: Real Estate Investment Trusts [CTA 2010 s 786]
    • Section 787 – Exemption of manufactured dividends [CTA 2010 s 787]
    • Section 788 – Statements about manufactured dividends [CTA 2010 s 788]
    • Section 789 – Powers about administrative provisions [CTA 2010 s 789]
  • ▸ Chapter 3 – Manufactured overseas dividends (ss 790-795)
    • Section 790 – Meaning of “manufactured overseas dividend” [CTA 2010 s 790]
    • Section 791 – Treatment of payer of manufactured overseas dividend [CTA 2010 s 791]
    • Section 792 – Company receiving manufactured overseas dividend from UK resident etc [CTA 2010 s 792]
    • Section 793 – Section 792: amount treated as withheld [CTA 2010 s 793]
    • Section 794 – Company receiving manufactured overseas dividend from foreign payer [CTA 2010 s 794]
    • Section 795 – Exemption of manufactured overseas dividends [CTA 2010 s 795]
  • ▸ Chapter 4 – Further provision about manufactured payments (ss796-804)
    • Manufactured payments exceeding, or less than, underlying payments (ss 796-798)
    • Manufactured payments under arrangements with unallowable purpose (ss 799-801)
    • Miscellaneous (ss 802-804)
  • ▸ Chapter 5 – Stock lending arrangements and repos (ss 805-812)
    • Interpretation (ss 805-807)
    • Tax credits: stock lending arrangements and repos (ss 808-811)
    • Deemed manufactured payments (ss 812)
  • ▸ Chapter 6 – Interpretation of Part (ss 813-814)
    • Section 813 – The gross amount of a manufactured overseas dividend etc [CTA 2010 s 813]
    • Section 814 – Other interpretation [CTA 2010 s 814]
▸ Part 17A – Manufactured dividends (ss 814A-814D)
  • Section 814A – Overview of Part [CTA 2010 s 814A]
  • Section 814B – Key definitions [CTA 2010 s 814B]
  • Section 814C – Treatment of payer of manufactured dividend [CTA 2010 s 814C]
  • Section 814D – Treatment of recipient of manufactured dividend [CTA 2010 s 814D]
▸ Part 18 – Transactions in land (ss 815-833)
  • ▸ Introduction (ss 815-817)
    • Section 815 – Introduction to Part [CTA 2010 s 815]
    • Section 816 – Meaning of disposing of land [CTA 2010S s 816]
    • Section 817 – Priority of other tax provisions [CTA 2010 s 817]
  • ▸ Charge to tax on gains from transactions in land (ss 818-822)
    • Section 818 – Charge to tax on gains from transactions in land [CTA 2010 s 818]
    • Section 819 – Gains obtained from land disposals in some circumstances [CTA 2010 s 819]
    • Section 820 – Person obtaining gain [CTA 2010 s 820]
    • Section 821 – Company chargeable [CTA 2010 s 821]
    • Section 822 – Method of calculating gain [CTA 2010 s 822]
  • ▸ Further provisions relevant to the charge (ss 823-826)
    • Section 823 – Transactions, arrangements, sales and realisations relevant for Part [CTA 2010 s 823]
    • Section 824 – Tracing value [CTA 2010 s 824]
    • Section 825 – Meaning of “another person” [CTA 2010 s 825]
    • Section 826 – Valuations and apportionments [CTA 2010 s 826]
  • ▸ Exemptions (ss 827-828)
    • Section 827 – Gain attributable to period before intention to develop formed [CTA 2010 s 827]
    • Section 828 – Disposals of shares in companies holding land as trading stock [CTA 2010 s 828]
  • ▸ Recovery of tax (ss 829-830)
    • Section 829 – Cases where consideration receivable by person not assessed [CTA 2010 s 829]
    • Section 830 – Certificates of tax paid etc. [CTA 2010 s 830]
  • ▸ Clearances and power to obtain information (ss 831-832)
    • Section 831 – Clearance procedure [CTA 2010 s 831]
    • Section 832 – Power to obtain information [CTA 2010 s 832]
  • ▸ Interpretation (ss 833)
    • Section 833 – Interpretation of Part [CTA 2010 s 833]
▸ Part 19 – Sale and lease-back etc (ss 834-886)
  • ▸ Chapter 1 – Payments connected with transferred land (ss 834-848)
    • Introduction (ss 834)
    • Application of the Chapter (ss 835-837)
    • Relief (other than for certain insurance company expenses): restriction and carrying forward (ss 838)
    • Insurance company expenses: restriction and carrying forward of relief (ss 839-842)
    • Interpretation etc. (ss 843-848)
  • ▸ Chapter 2 – New lease of land after assignment or surrender (ss 849-862)
    • Introduction (ss 849)
    • Application of the Chapter (ss 850)
    • Taxation of consideration (ss 851-852)
    • Relief for rent under new lease (ss 853)
    • New lease treated as ending (ss 854-858)
    • Lease varied to provide for increased rent (ss 859)
    • Interpretation (ss 860-862)
  • ▸ Chapter 3 – Leased trading assets (ss 863-869)
    • Introduction (ss 863)
    • Application of the Chapter (ss 864)
    • Relief: restriction and carrying forward (ss 865-867)
    • Interpretation (ss 868-869)
  • ▸ Chapter 4 – Leased assets: capital sums (ss 870-886)
    • Introduction (ss 870)
    • Application of the Chapter (ss 871-873)
    • Charge to corporation tax (ss 874-876)
    • Obtaining of sum (ss 877-879)
    • Apportionment (ss 880-881)
    • Interpretation (ss 882-886)
▸ Part 20 – Tax avoidance involving leasing plant or machinery (ss 887-894)
  • ▸ Chapter 1 – Restrictions on use of losses in leasing partnerships (ss 887-889)
    • Section 887 – When restrictions on leasing partnership losses under this Chapter apply [CTA 2010 s 887]
    • Section 888 – Restrictions on leasing partnership losses [CTA 2010 s 888]
    • Section 889 – Interpretation of Chapter [CTA 2010 s 889]
  • ▸ Chapter 2 – Capital payments in respect of leases treated as income (ss 890-894)
    • Section 890 – Capital payments in respect of leases treated as income [CTA 2010 s 890]
    • Section 891 – Apportionments for leases of plant or machinery and other property [CTA 2010 s 891]
    • Section 892 – Deduction where failure to make relevant capital payment expected [CTA 2010 s 892]
    • Section 893 – Meaning of “capital payment”, “relevant capital payment” etc [CTA 2010 s 893]
    • Section 894 – Other interpretation of Chapter [CTA 2010 s 894]
  • ▸ Chapter 3 – Consideration for taking over payment obligations as lessee treated as income (s 894A)
    • Section 894A – Consideration for taking over payment obligations as lessee treated as income [CTA 2010 s 894A]
▸ Part 21 – Leasing arrangements: finance leases and loans (ss 895-937)
  • ▸ Chapter 1 – Introduction (ss 895-898)
    • Introduction (ss 895)
    • Meaning of expressions about rent (ss 896-898)
  • ▸ Chapter 2 – Finance leases with return in capital form (ss 899-924)
    • Introduction (ss 899-900)
    • Leases to which this Chapter applies (ss 901-904)
    • Current lessor taxed by reference to accountancy rental earnings (ss 905)
    • Reduction of taxable rent by cumulative rental excesses (ss 906-910)
    • Relief for bad debts by reduction of cumulative rental excesses (ss 911-914)
    • Effect of disposals (ss 915-916)
    • Capital allowances: clawback of major lump sum (ss 917-922)
    • Schemes to which this Chapter does not at first apply (ss 923-924)
  • ▸ Chapter 3 – Other finance leases (ss 925-929)
    • Introduction (ss 925-926)
    • Current lessor taxed by reference to accountancy rental earnings (ss 927-928)
    • Application of provisions of Chapter 2 for purposes of this Chapter (ss 929)
  • ▸ Chapter 4 – Supplementary provisions (ss 930-937)
    • Section 930 – Pre-26 November 1996 schemes and post-25 November 1996 schemes [CTA 2010 s 930]
    • Section 931 – Time apportionment where periods of account do not coincide [CTA 2010 s 931]
    • Section 932 – Periods of account and related periods of account and accounting periods [CTA 2010 s 932]
    • Section 933 – Connected persons [CTA 2010 s 933]
    • Section 934 – Assets which represent the leased asset [CTA 2010 s 934]
    • Section 935 – Parent undertakings and consolidated group accounts [CTA 2010 s 935]
    • Section 936 – Assessments and adjustments [CTA 2010 s 936]
    • Section 937 – Interpretation of Part [CTA 2010 s 937]
▸ Part 21A – Risk transfer schemes (ss 937A-937O)
  • ▸ Introduction (ss 937A-937B)
    • Section 937A – Overview [CTA 2010 s 937A]
    • Section 937B – Group schemes and single company schemes [CTA 2010 s 937B]
  • ▸ Basic definitions (ss 937C-937F)
    • Section 937C – Meaning of “risk transfer scheme” [CTA 2010 s 937C]
    • Section 937D – Meaning of “the scheme rate, index or value” [CTA 2010 s 937D]
    • Section 937E – Scheme losses and scheme profits [CTA 2010 s 937E]
    • Section 937F – Ring-fenced scheme losses and relevant scheme profits [CTA 2010 s 937F]
  • ▸ Treatment of ring-fenced scheme losses (ss 937G-937H)
    • Section 937G – Ring-fenced scheme loss: treatment in period in which made [CTA 2010 s 937G]
    • Section 937H – Ring-fenced scheme loss: treatment in subsequent periods [CTA 2010 s 937H]
  • ▸ A company's losses pool and profits pool (ss 937I)
    • Section 937I – A company’s losses pool and profits pool [CTA 2010 s 937I]
  • ▸ General (ss 937J-937NA)
    • Section 937J – Tax capacity assumption [CTA 2010 s 937J]
    • Section 937K – Meaning of “associated with” [CTA 2010 s 937K]
    • Section 937L – Interpretation of references to economic losses and profits [CTA 2010 s 937L]
    • Section 937M – Foreign currency accounting [CTA 2010 s 937M]
    • Section 937N – Meaning of “scheme” [CTA 2010 s 937N]
    • Section 937NA – Priority [CTA 2010 s 937NA]
  • ▸ Power to amend this Part (ss 937O)
    • Section 937O – Power to amend this Part in its application to dealers in securities [CTA 2010 s 937O]
▸ Part 21B – Group Mismatch Schemes (ss 938A-938N)
  • Section 938A – Losses and profits from group mismatch schemes to be disregarded [CTA 2010 s 938A]
  • Section 938B – Meaning of “a group mismatch scheme” and “the scheme group” [CTA 2010 s 938B]
  • Section 938C – Meaning of “scheme loss” and “scheme profit” [CTA 2010 s 938C]
  • Section 938D – Meaning of “relevant tax advantage” etc. and “the scheme period” [CTA 2010 s 938D]
  • Section 938E – Meaning of “group” [CTA 2010 s 938E]
  • Section 938F – Meaning of references to economic profits and losses [CTA 2010 s 938F]
  • Section 938G – Tax capacity assumption [CTA 2010 s 938G]
  • Section 938H – Meaning of “scheme” [CTA 2010 s 938H]
  • Section 938I – Schemes involving repos or quasi-repos [CTA 2010 s 938I]
  • Section 938J – Schemes involving finance arrangements [CTA 2010 s 938J]
  • Section 938K – Trading income [CTA 2010 s 938K]
  • Section 938L – Foreign companies and foreign permanent establishments [CTA 2010 s 938L]
  • Section 938M – Controlled foreign companies [CTA 2010 s 938M]
  • Section 938N – Priority [CTA 2010 s 938N]
▸ Part 21BA – Tax mismatch schemes (ss 938O-938V)
  • Section 938O – Losses and profits from tax mismatch scheme to be disregarded [CTA 2010 s 938O]
  • Section 938P – Meaning of “tax mismatch scheme” [CTA 2010 s 938P]
  • Section 938Q – Meaning of “scheme loss” and “scheme profit” [CTA 2010 s 938Q]
  • Section 938R – Meaning of “relevant tax advantage” etc. and “the scheme period” [CTA 2010 s 938R]
  • Section 938S – Meaning of references to economic profits and losses [CTA 2010 s 938S]
  • Section 938T – Tax capacity assumption [CTA 2010 s 938T]
  • Section 938U – Meaning of “scheme” [CTA 2010 s 938U]
  • Section 938V – Priority [CTA 2010 s 938V]
▸ Part 21C – Tainted charity donations (ss 939A-939I)
  • ▸ Introduction (ss 939A-939B)
    • Section 939A – Overview of Part [CTA 2010 s 939A]
    • Section 939B – Relievable charity donations [CTA 2010 s 939B]
  • ▸ Tainted donations (ss 939C-939E)
    • Section 939C – Tainted donations [CTA 2010 s 939C]
    • Section 939D – Circumstances in which financial advantage deemed to be obtained [CTA 2010 s 939D]
    • Section 939E – Certain financial advantages to be ignored [CTA 2010 s 939E]
  • ▸ Removal of reliefs (ss 939F)
    • Section 939F – Removal of corporation tax relief in respect of tainted donations etc. [CTA 2010 s 939F]
  • ▸ Supplementary (ss 939G-939I)
    • Section 939G – Connected charities [CTA 2010 s 939G]
    • Section 939H – Connected persons [CTA 2010 s 939H]
    • Section 939I – Minor definitions [CTA 2010 s 939I]
▸ Part 22 – Miscellaneous provisions (ss 940A-996)
  • ▸ Chapter 1 – Transfers of trade without a change of ownership (ss 940A-953)
    • Introduction (ss 940A-940B)
    • Transfers to which Chapter applies (ss 940C-943)
    • Effect of Chapter in relation to transfers to which it applies (ss 943A-950)
    • Supplementary (ss 951-953)
  • ▸ Chapter 2 – Transfers of trade to obtain balancing allowances (ss 954-957)
    • Section 954 – Transfer of activities on complete cessation of trade [CTA 2010 s 954]
    • Section 955 – Transfer of activities on part cessation of trade [CTA 2010 s 955]
    • Section 956 – Apportionment if part of trade treated as separate trade [CTA 2010 s 956]
    • Section 957 – Chapter 2: supplementary [CTA 2010 s 957]
  • ▸ Chapter 3 – Transfer of relief within partnerships (ss 958-962)
    • Section 958 – Application [CTA 2010 s 958]
    • Section 959 – Arrangements for transfer of relief [CTA 2010 s 959]
    • Section 960 – Restrictions on use of reliefs [CTA 2010 s 960]
    • Section 961 – Non-trading profits and losses [CTA 2010 s 961]
    • Section 962 – Interpretation of Chapter [CTA 2010 s 962]
  • ▸ Chapter 4 – Surrender of tax refund within group (ss 963-966)
    • Section 963 – Power to surrender tax refund [CTA 2010 s 963]
    • Section 964 – Effects of surrender of tax refund [CTA 2010 s 964]
    • Section 965 – Interest on tax overpaid or underpaid [CTA 2010 s 965]
    • Section 966 – Payments for surrendered tax refunds [CTA 2010 s 966]
  • ▸ Chapter 5 – Set off of income tax deductions against corporation tax (ss 967-968)
    • Section 967 – Deductions from payments received by UK resident companies [CTA 2010 s 967]
    • Section 968 – Deductions from payments received by non-UK resident companies [CTA 2010 s 968]
  • ▸ Chapter 6 – Collection etc. of tax from UK representatives of non-UK resident companies (ss 967-968)
    • Section 969 – Introduction to Chapter [CTA 2010 s 969]
    • Section 970 – Obligations and liabilities in relation to corporation tax [CTA 2010 s 970]
    • Section 971 – Exceptions [CTA 2010 s 971]
    • Section 972 – Interpretation of Chapter [CTA 2010 s 972]
  • ▸ Chapter 7 – Recovery of unpaid corporation tax due from non-UK resident company (ss 973-980)
    • Section 973 – Introduction to Chapter [CTA 2010 s 973]
    • Section 974 – Case in which this Chapter applies [CTA 2010 s 974]
    • Section 975 – Meaning of “the relevant period” [CTA 2010 s 975]
    • Section 976 – Meaning of “related company” [CTA 2010 s 976]
    • Section 977 – Notice requiring payment of unpaid tax [CTA 2010 s 977]
    • Section 978 – Time limit for giving notice [CTA 2010 s 978]
    • Section 979 – Amount payable in consortium case [CTA 2010 s 979]
    • Section 980 – Chapter 7: supplementary [CTA 2010 s 980]
  • ▸ Chapter 8 – Exemptions (ss 981-989)
    • Trade unions and employers' associations (ss 981-983)
    • Local authorities etc. (ss 984)
    • Health service bodies (ss 985-987)
    • Police (ss 987A)
    • Education Authority of Northern Ireland (ss 987B)
    • Northern Ireland Housing Executive (ss 987C)
    • Reserve Bank of India and State Bank of Pakistan (ss 988)
    • Agricultural societies (ss 989)
  • ▸ Chapter 9 – Other miscellaneous provisions (ss 990-996)
    • UK Economic Interest Groupings and European Economic Interest Groupings (ss 990)
    • Harbour reorganisation schemes (ss 991-995)
    • Groups: use of different accounting practices (ss 996)
    • Sporting testimonial payments and associated payments (ss 996A)
▸ Part 23 – Company distributions (ss 997-1117)
  • ▸ Chapter 1 – Introduction (ss 997)
    • Section 997 – Overview of Part [CTA 2010 s 997]
  • ▸ Chapter 2 – Matters which are distributions (ss 998-1028)
    • Introduction (ss 998-999)
    • Meaning of “distribution” (ss 1000-1001)
    • Distributions, other than dividends, in respect of shares (ss 1002)
    • Redeemable share capital (ss 1003)
    • Securities issued otherwise than for new consideration (ss 1004)
    • Distributions in respect of non-commercial securities (ss 1005-1008)
    • Exceptions to section 1008 (ss 1009-1014)
    • Distributions in respect of special securities (ss 1015-1019)
    • Transfers of assets or liabilities treated as distributions (ss 1020-1021)
    • Bonus issue following repayment of share capital (ss 1022-1023)
    • Interpretation of references to repayment of share capital (ss 1024-1028)
  • ▸ Chapter 3 – Matters which are not distributions (ss 1029-1063)
    • Introduction (ss 1029)
    • Distributions in a winding up (ss 1030)
    • Distributions prior to dissolution of company (ss 1030A-1030B)
    • Distribution as part of a cross-border merger (ss 1031)
    • Payments of interest (ss 1032-1032A)
    • Purchase of own shares (ss 1033-1043)
    • Purchase of own shares: supplementary (ss 1044-1048)
    • Stock dividends (ss 1049-1053)
    • Building society payments (ss 1054)
    • Registered society payments (ss 1055-1056)
    • Payments made by UK agricultural or fishing co-operatives (ss 1057-1058)
    • Supplementary provisions (ss 1059-1063)
  • ▸ Chapter 4 – Special rules for distributions made by certain companies (ss 1064-1072)
    • Close companies (ss 1064-1069)
    • Companies carrying on a mutual business (ss 1070)
    • Companies not carrying on a business (ss 1071)
    • Members of a 90% group (ss 1072)
  • ▸ Chapter 5 – Demergers (ss 1073-1099)
    • Introduction (ss 1073-1074)
    • Exempt distributions (ss 1075-1080)
    • Exemption by virtue of section 1076 or 1077: conditions (ss 1081-1085)
    • Chargeable payments (ss 1086-1090)
    • Advance clearance (ss 1091-1094)
    • Information and returns (ss 1095-1097)
    • Supplementary (ss 1098-1099)
  • ▸ Chapter 6 – Information and returns: further provisions (ss 1100-1108)
    • General duties to provide information (ss 1100-1103)
    • Companies and nominees required to provide tax certificates (ss 1104-1108)
  • ▸ Chapter 7 – Tax credits (ss 1109-1111)
    • Section 1109 – Tax credits for certain recipients of exempt qualifying distributions [CTA 2010 s 1109]
    • Section 1110 – Recovery of overpaid tax credit etc [CTA 2010 s 1110]
    • Section 1111 – Section 1110: supplementary [CTA 2010 s 1111]
  • ▸ Chapter 8 – Interpretation of Part (ss 1112-1117)
    • Section 1112 – Arrangements between companies [CTA 2010 s 1112]
    • Section 1113 – “In respect of shares” [CTA 2010 s 1113]
    • Section 1114 – “In respect of securities” [CTA 2010 s 1114]
    • Section 1115 – “New consideration” [CTA 2010 s 1115]
    • Section 1116 – References to married persons, or civil partners, living together [CTA 2010 s 1116]
    • Section 1117 – Other interpretation [CTA 2010 s 1117]
▸ Part 24 – Corporation Tax Acts definitions etc (ss 1118-1173)
  • ▸ Chapter 1 – Definitions (ss 1118-1140)
    • Section 1118 – Introduction to Chapter [CTA 2010 s 1118]
    • Section 1119 – The definitions [CTA 2010 s 1119]
    • Section 1120 – “Bank” [CTA 2010 s 1120]
    • Section 1121 – “Company” [CTA 2010 s 1121]
    • Section 1122 – “Connected” persons [CTA 2010 s 1122]
    • Section 1123 – “Connected” persons: supplementary [CTA 2010 s 1123]
    • Section 1124 – “Control” [CTA 2010 s 1124]
    • Section 1125 – “Farming” and related expressions [CTA 2010 s 1125]
    • Section 1126 – “Franked investment income” [CTA 2010 s 1126]
    • Section 1127 – “Generally accepted accounting practice” and related expressions [CTA 2010 s 1127]
    • Section 1128 – “Grossing up” [CTA 2010 s 1128]
    • Section 1129 – “Hire-purchase agreement” [CTA 2010 s 1129]
    • Section 1130 – “Local authority” [CTA 2010 s 1130]
    • Section 1131 – “Local authority association” [CTA 2010 s 1131]
    • Section 1132 – “Offshore installation” [CTA 2010 s 1132]
    • Section 1133 – Regulations about the meaning of “offshore installation” [CTA 2010 s 1133]
    • Section 1134 – “Oil and gas exploration and appraisal” [CTA 2010 s 1134]
    • Section 1135 – “Property investment LLP” [CTA 2010 s 1135]
    • Section 1136 – “Qualifying distribution” [CTA 2010 s 1136]
    • Section 1137 – “Recognised stock exchange” [CTA 2010 s 1137]
    • Section 1138 – “Research and development” [CTA 2010 s 1138]
    • Section 1139 – “Tax advantage” [CTA 2010 s 1139]
    • Section 1140 – “Unauthorised unit trust” [CTA 2010 s 1140]
  • ▸ Chapter 2 – Permanent establishments (ss 1141-1153)
    • General (ss 1141)
    • Circumstances where there is no permanent establishment (ss 1142-1144)
    • Brokers (ss 1145)
    • Investment managers (ss 1146-1150)
    • Lloyd's agents (ss 1151)
    • Supplementary (ss 1152-1153)
  • ▸ Chapter 3 – Subsidiaries (ss 1154-1157)
    • Section 1154 – Meaning of “51% subsidiary”, “75% subsidiary” and “90% subsidiary” [CTA 2010 s 1154]
    • Section 1155 – Indirect ownership of ordinary share capital [CTA 2010 s 1155]
    • Section 1156 – Calculation of amounts owned indirectly: main rules [CTA 2010 s 1156]
    • Section 1157 – Adding fractions together [CTA 2010 s 1157]
  • ▸ Chapter 4 – Investment trusts (ss 1158-1165)
    • Section 1158 – Meaning of “investment trust” [CTA 2010 s 1158]
    • Section 1159 – Approval [CTA 2010 s 1159]
    • Section 1160 – Calculation of income [CTA 2010 s 1160]
    • Section 1161 – The income retention condition: exceptions [CTA 2010 s 1161]
    • Section 1162 – The 15% holding limit: exceptions [CTA 2010 s 1162]
    • Section 1163 – Basic meaning of “holding in a company” [CTA 2010 s 1163]
    • Section 1164 – More about the meaning of “holding in a company” [CTA 2010 s 1164]
    • Section 1165 – Other interpretation [CTA 2010 s 1165]
  • ▸ Chapter 5 – Other Corporation Tax Acts provisions (ss 1166-1173)
    • Section 1166 – Scotland [CTA 2010 s 1166]
    • Section 1167 – Sources of income within the charge to corporation tax or income tax [CTA 2010 s 1167]
    • Section 1168 – Payment of dividends [CTA 2010 s 1168]
    • Section 1169 – Settlements and trustees [CTA 2010 s 1169]
    • Section 1170 – Territorial sea of the United Kingdom [CTA 2010 s 1170]
    • Section 1171 – Orders and regulations [CTA 2010 s 1171]
    • Section 1172 – Apportionment to different periods [CTA 2010 s 1172]
    • Section 1173 – Miscellaneous charges [CTA 2010 s 1173]
▸ Part 25 – Definitions for purposes of Act and final provisions (ss 1174-1185)
  • ▸ Definitions for the purposes of Act (ss 1174-1176)
    • Section 1174 – Abbreviated references to Acts [CTA 2010 s 1174]
    • Section 1175 – Claims and elections [CTA 2010 s 1175]
    • Section 1176 – Meaning of “connected” persons and “control” [CTA 2010 s 1176]
  • ▸ Final provisions (ss 1177-1185)
    • Section 1177 – Minor and consequential amendments [CTA 2010 s 1177]
    • Section 1178 – Power to make consequential provision [CTA 2010 s 1178]
    • Section 1179 – Power to undo changes [CTA 2010 s 1179]
    • Section 1180 – Transitional provisions and savings [CTA 2010 s 1180]
    • Section 1181 – Repeals and revocations [CTA 2010 s 1181]
    • Section 1182 – Index of defined expressions [CTA 2010 s 1182]
    • Section 1183 – Extent [CTA 2010 s 1183]
    • Section 1184 – Commencement [CTA 2010 s 1184]
    • Section 1185 – Short title [CTA 2010 s 1185]
Part 7ZA – Restrictions on obtaining certain deductions / Modifications for certain insurance companies

Modifications for certain insurance companies (ss 269ZFB-269ZFC)

Contents

  • Section 269ZFB – Modifications for certain insurance companies [CTA 2010 s 269ZFB] Section commentary
  • Section 269ZFC – Restriction on deductions of non-BLAGAB allowable losses from BLAGAB chargeable gains [CTA 2010 s 269ZFC] Section commentary

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