What happened to section 134A of the Corporation Tax Act 2010?

Section 134A of the Corporation Tax Act 2010 has been repealed and omitted from the legislation. The repeal was enacted by section 35(2)(c) of the Finance (No. 2) Act 2015. It no longer forms part of United Kingdom corporation tax law for accounting periods beginning on or after 10 December 2014.

When did the repeal of section 134A take effect?

The repeal of section 134A takes effect for accounting periods beginning on or after 10 December 2014. Companies with accounting periods starting from that date onwards are not subject to the provisions formerly contained in section 134A. Periods straddling that date may still have been governed by the original rules.

Does section 134A still apply to accounting periods that began before 10 December 2014?

Yes, if a company had an accounting period that began before 10 December 2014, the original provisions of section 134A would still have applied for that particular period. For example, a company with an accounting period from 1 April 2014 to 31 March 2015 would have been subject to the old rules.

Do accountants need to consider section 134A for current corporation tax computations?

No. Accountants preparing corporation tax computations for accounting periods beginning on or after 10 December 2014 do not need to consider section 134A. It has been fully removed from the Corporation Tax Act 2010 by the Finance (No. 2) Act 2015 and has no effect on current periods.

Corporation Tax Act 2010 section 134A

Companies

Section 134A, which previously dealt with certain company provisions, has been removed from the legislation and no longer has effect.

Section 134A has been omitted from the Corporation Tax Act 2010.
The omission was made by the Finance (No. 2) Act 2015, section 35(2)(c).
The removal takes effect for accounting periods beginning on or after 10 December 2014.
Any company with an accounting period starting before 10 December 2014 would have been subject to the original provisions of this section for that period.

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