Corporation Tax Act 2010 section 438

Overview of Part

Section 438 provides an overview of the structure and content of Part 10 of the Corporation Tax Act 2010, which deals with the taxation of close companies.

• Chapter 2 defines key terms used throughout the Part, including "close company" and "participator"
• Chapter 3 imposes a tax charge on loans or advances made by close companies to their participators
• Chapter 3A imposes a tax charge on other arrangements between close companies and their participators
• Chapter 4 gives HMRC the power to obtain information in connection with close companies