Corporation Tax Act 2010 (c. 4)

Part 23 U.K. Company distributions

Modifications etc. (not altering text)

C1 Pt. 23 applied (with modifications) by 2003 c. 1, s. 554AC(3) (as inserted (with effect in accordance with Sch. 1 para. 14 of the amending Act) by Finance Act 2018 (c. 3), Sch. 1 para. 2)

Chapter 2 U.K. Matters which are distributions

Introduction U.K.

998 Overview of Chapter U.K.

(1) Sections 1000 to 1023 are about the meaning of “distribution” in the Corporation Tax Acts.

(2) In particular, section 1000(1) lists the matters which are distributions.

(3) Sections [F1 1003] to 1023 contain provisions supplementing the paragraphs of that list.

(4) The table in section 1001 mentions some of the main provisions which explain, supplement or limit particular paragraphs of the list in section 1000(1).

(5) Sections 1024 to 1028 are about the meaning of “repayment of share capital”.

Textual Amendments

F1 Words in s. 998(3) substituted (with effect in accordance with s. 33(6) of the amending Act) by Finance Act 2012 (c. 14), s. 33(5)(b)

999 Priority of negative rules U.K.

(1) The provisions of this Chapter are subject to any express exceptions.

(2) See, in particular—

(a) Chapter 3 (matters which are not distributions),

(b) section 1075 (exempt distributions), and

(c) paragraph 6 of Schedule 12 to FA 1988 (transfer of building society's business to a company: qualifying benefits),

and see also the table in section 1001.