Corporation Tax Act 2010 section 1098

Meaning of "unquoted company"

Section 1098 defines what an "unquoted company" means for the purposes of this Chapter, which is relevant to determining whether certain corporation tax provisions apply to a particular company.

• A company is unquoted if none of its shares are both listed on the Official List of the Stock Exchange and dealt in on the Stock Exchange regularly or from time to time.
• Debenture stock, loan stock, preferred shares and preferred stock are not counted as "shares" for this purpose.
• A company that would otherwise be unquoted loses that status if it is controlled exclusively by one or more quoted companies.
• The definition matters because different tax rules apply to unquoted companies under this Chapter compared with quoted companies.