PART VIU.K. COMPANY DISTRIBUTIONS, TAX CREDITS ETC
CHAPTER IU.K. TAXATION OF COMPANY DISTRIBUTIONS
Modifications etc. (not altering text)
C1Pt. 6 Chs. 1-3: power to amend conferred (1.4.2009 with effect in accordance with s. 1329(1) of the affecting Act) by Corporation Tax Act 2009 (c. 4), s. 533(2)(3)(d)
[F1207A Application of lower rate to company distributions.U.K.
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F1S. 207A inserted (27.7.1993 with application in relation to the year 1993-94 and subsequent years of assessment) by 1993 c. 34, s. 77(1)(2)(5)
208 U.K. company distributions not generally chargeable to corporation tax.U.K.
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F3S. 208 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 96, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)
[F4CHAPTER IIU.K. MATTERS WHICH ARE DISTRIBUTIONS FOR THE PURPOSES OF THE CORPORATION TAX ACTS]
Textual Amendments
F4Pt. 6 Ch. 2 (ss. 209-211) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 14, Sch. 3 Pt. 1 (with Sch. 2)
209 Meaning of “distribution”.U.K.
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Pt. 6 Ch. 2 (ss. 209-211) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 14, Sch. 3 Pt. 1 (with Sch. 2)
[F6209A Section 209(3AA): link to shares of company or associated companyU.K.
F7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F6Ss. 209A, 209B inserted (with effect in accordance with s. 102(3) of the amending Act) by Finance Act 2002 (c. 23), s. 102(2)
F7Pt. 6 Ch. 2 (ss. 209-211) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 14, Sch. 3 Pt. 1 (with Sch. 2)
209B Section 209(3AA): hedging arrangementsU.K.
F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F6Ss. 209A, 209B inserted (with effect in accordance with s. 102(3) of the amending Act) by Finance Act 2002 (c. 23), s. 102(2)
F8Pt. 6 Ch. 2 (ss. 209-211) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 14, Sch. 3 Pt. 1 (with Sch. 2)
210 Bonus issue following repayment of share capital.U.K.
F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F9Pt. 6 Ch. 2 (ss. 209-211) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 14, Sch. 3 Pt. 1 (with Sch. 2)
211 Matters to be treated or not to be treated as repayments of share capital.U.K.
F10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F10Pt. 6 Ch. 2 (ss. 209-211) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 14, Sch. 3 Pt. 1 (with Sch. 2)
[F11CHAPTER IIIU.K. MATTERS WHICH ARE NOT DISTRIBUTIONS FOR THE PURPOSES OF THE CORPORATION TAX ACTS]
Textual Amendments
F11Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
Payments of interestU.K.
212 Interest etc. paid in respect of certain securities.U.K.
F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F12Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
DemergersU.K.
213 Exempt distributions.U.K.
F13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F13Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
[F14213AExempt distributions: division of businessU.K.
F15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F14S. 213A inserted (29.11.2007 with effect in accordance with reg. 3(1) of the amending S.I. (as retrospectively amended by S.I. 2008/1579, reg. 4(1)) by The Corporation Tax (Implementation of the Mergers Directive) Regulations 2007 (S.I. 2007/3186), reg. 1(2), Sch. 1 para. 13
F15Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
214 Chargeable payments connected with exempt distributions.U.K.
F16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F16Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
215 Advance clearance by Board of distributions and payments.U.K.
F17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F17Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
216 Returns.U.K.
F18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F18Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
217 Information.U.K.
F19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F19Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2) (subject to the omission of s. 217(4), so far as it continues to have effect, by virtue of Finance Act 2011 (c. 11), Sch. 23 paras. 55(b), 65)
218 Interpretation of sections 213 to 217.U.K.
F20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F20Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
Purchase of own sharesU.K.
219 Purchase by unquoted trading company of own shares.U.K.
F21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F21Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
220 Conditions as to residence and period of ownership.U.K.
F22. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F22Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
221 Reduction of vendor’s interest as shareholder.U.K.
F23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F23Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
222 Conditions applicable where purchasing company is member of group.U.K.
F24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F24Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
223 Other conditions.U.K.
F25. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F25Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
224 Relaxation of conditions in certain cases.U.K.
F26. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F26Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
225 Advance clearance of payments by Board.U.K.
F27. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F27Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
226 Returns and information.U.K.
F28. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F28Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2) (subject to the omission of s. 226(4), so far as it continues to have effect, by virtue of Finance Act 2011 (c. 11), Sch. 23 paras. 55(c), 65)
227 Associated persons.U.K.
F29. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F29Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
228 Connected persons.U.K.
F30. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F30Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
229 Other interpretative provisions.U.K.
F31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F31Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
Stock dividendsU.K.
230 Stock dividends: distributions.U.K.
F32. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F32Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
[F33Industrial and provident society dividends etcU.K.
Textual Amendments
F33S. 230A and preceding cross-heading inserted (1.4.2009 with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 100 (with Sch. 2 Pts. 1, 2)
230ADividend or bonus granted by industrial and provident societyU.K.
F34. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F34Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)
CHAPTER IVU.K. TAX CREDITS
231 Tax credits for certain recipients of qualifying distributions.U.K.
F35. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F35S. 231 repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 16, Sch. 3 Pt. 1 (with Sch. 2)
[F36231A Restrictions on the use of tax credits by pension funds.U.K.
F37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F36S. 231A inserted (with effect in accordance with s. 19(3) of the amending Act) by Finance (No. 2) Act 1997 (c. 58), s. 19(2)
F37S. 231A repealed (with effect in accordance with s. 30(11), Sch. 8 Pt. 2(9) Note 3 of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), s. 30(8), Sch. 8 Pt. 2(9)
[F38231AA No tax credit for borrower under stock lending arrangement or interim holder under repurchase agreement.U.K.
F39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F38S. 231AA inserted (with effect in accordance with s. 102(9) of the amending Act) by Finance Act 1998 (c. 36), s. 102(1)
F39S. 231AA repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 17, Sch. 3 Pt. 1 (with Sch. 2)
[F40231AB No tax credit for original owner under repurchase agreement in respect of certain manufactured dividends.U.K.
F41. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F40S. 231AB inserted (with effect in accordance with s. 102(10) of the amending Act) by Finance Act 1998 (c. 36), s. 102(2)
F41S. 231AB repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 18, Sch. 3 Pt. 1 (with Sch. 2)
[F42231B Consequences of certain arrangements to pass on the value of a tax credit.U.K.
F43. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F42S. 231B inserted (with effect in accordance with s. 28(2) of the amending Act) by Finance (No. 2) Act 1997 (c. 58), s. 28(1)
F43S. 231B omitted (with effect in accordance with Sch. 1 para. 73(1) of the repealing Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 52(2)
232 Tax credits for non-U.K. residents.U.K.
F44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F44S. 232 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 117, Sch. 3 (with Sch. 2)
233 Taxation of certain recipients of distributions and in respect of non-qualifying distributions.U.K.
F45. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F45S. 233 repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 118, Sch. 3 (with Sch. 2)
234 Information relating to distributions.U.K.
F46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F46S. 234 repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 20, Sch. 3 Pt. 1 (with Sch. 2)
[F47234A Information relating to distributions: further provisions.U.K.
F48. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F47S. 234A inserted (with application in relation to distributions begun after 16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 32(1)(4).
F48S. 234A repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 21, Sch. 3 Pt. 1 (with Sch. 2)
F49235 Distributions of exempt funds etc.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F49Ss. 235-237 repealed (with effect in accordance with Sch. 4 para. 7(2), Sch. 8 Pt. 2(9) Note 3 of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 4 para. 7(1), Sch. 8 Pt. 2(9)
F50236 Provisions supplementary to section 235.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F50Ss. 235-237 repealed (with effect in accordance with Sch. 4 para. 7(2), Sch. 8 Pt. 2(9) Note 3 of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 4 para. 7(1), Sch. 8 Pt. 2(9)
F51237 Disallowance of reliefs in respect of bonus issues.U.K.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F51Ss. 235-237 repealed (with effect in accordance with Sch. 4 para. 7(2), Sch. 8 Pt. 2(9) Note 3 of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 4 para. 7(1), Sch. 8 Pt. 2(9)
CHAPTER VU.K. ADVANCE CORPORATION TAX AND FRANKED INVESTMENT INCOME
238 Interpretation of terms and collection of ACT.U.K.
F52. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F52S. 238 repealed (with effect in accordance with Sch. 3 para. 11(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 11(1), Sch. 27 Pt. 3(2), Note
239 Set-off of ACT against liability to corporation tax.U.K.
F53. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F53S. 239 repealed (with effect in accordance with Sch. 3 para. 12(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 12(1), Sch. 27 Pt. 3(2), Note (with Sch. 3 para. 12(3)-(6))
240 Set-off of company’s surplus ACT against subsidiary’s liability to corporation tax.U.K.
F54. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F54S. 240 repealed (with effect in accordance with Sch. 3 para. 13(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 13(1), Sch. 27 Pt. 3(2), Note
241 Calculation of ACT where company receives franked investment income.U.K.
F55. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F55S. 241 repealed (with effect in accordance with Sch. 3 para. 14(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 14(1), Sch. 27 Pt. 3(2), Note
242 Set-off of losses etc. against surplus of franked investment income.U.K.
F56. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F56Ss. 242-244 repealed (with effect in accordance with s. 20(1)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), s. 20(5), Sch. 8 Pt. 2(4), Note
243 Set-off of loss brought forward, or terminal loss.U.K.
F57. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F57Ss. 242-244 repealed (with effect in accordance with s. 20(1)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), s. 20(5), Sch. 8 Pt. 2(4), Note
244 Further provisions relating to claims under section 242 or 243.U.K.
F58. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F58Ss. 242-244 repealed (with effect in accordance with s. 20(1)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), s. 20(5), Sch. 8 Pt. 2(4), Note
245 Calculation etc. of ACT on change of ownership of company.U.K.
F59. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F59S. 245 repealed (with effect in accordance with Sch. 3 para. 15(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 15(1), Sch. 27 Pt. 3(2), Note
[F60245A Restriction on application of section 240 in certain circumstances.U.K.
F61. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F60Ss. 245A, 245B inserted (in relation to changes in ownership on or after 14 March 1989) by Finance Act 1989 (c. 26), s. 98
F61S. 245A repealed (with effect in accordance with Sch. 3 para. 16(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 16(1), Sch. 27 Pt. 3(2), Note
245B Restriction on set-off where asset transferred after change in ownership of company.U.K.
F62. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F62S. 245B repealed (with effect in accordance with Sch. 3 para. 17(2)(3) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 17(1), Sch. 27 Pt. 3(2), Note
246 Charge of ACT at previous rate until new rate fixed, and changes of rate.U.K.
F63. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F63S. 246 repealed (with effect in accordance with Sch. 3 para. 18(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 18(1), Sch. 27 Pt. 3(2), Note
[F64F65Chapter VAU.K. Foreign Income Dividends
Textual Amendments
F64Pt. 6 Ch. 5A (ss. 246A-246Y) inserted (3.5.1994) by Finance Act 1994 (c. 9), Sch. 16 para. 1
F65Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
Election by company paying dividendU.K.
246A Election by company paying dividend.U.K.
F66. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F66Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246B Procedure for making election.U.K.
F67. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F67Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
Recipient of foreign income dividendU.K.
246C No tax credit for recipient.U.K.
F68. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F68Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246D Individuals etc.U.K.
F69. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F69Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
Companies: payments and receiptsU.K.
246E Foreign income dividend not franked payment.U.K.
F70. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F70Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246F Calculation of ACT where company receives foreign income dividend.U.K.
F71. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F71Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246G Information relating to foreign income dividends.U.K.
F72. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F72Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246H Power of inspector to require information.U.K.
F73. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F73Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
Foreign source profit and distributable foreign profitU.K.
246I Foreign source profit and distributable foreign profit.U.K.
F74. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F74Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
Matching of dividend with distributable foreign profitU.K.
246J Matching of dividend with distributable foreign profit.U.K.
F75. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F75Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246K Matching: subsidiaries.U.K.
F76. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F76Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246L Requirement as to subsidiaries.U.K.
F77. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F77Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246M Matching: further provisions.U.K.
F78. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F78Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
Repayment or set-off of advance corporation taxU.K.
246N ACT to be repaid or set off against corporation tax liability.U.K.
F79. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F79Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246P Notional foreign source advance corporation tax.U.K.
F80. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F80Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246Q Repayment or set-off: supplementary.U.K.
F81. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F81Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246R Supplementary claims.U.K.
F82. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F82Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
International headquarters companiesU.K.
246S International headquarters companies.U.K.
F83. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F83Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246T Liability to pay ACT displaced.U.K.
F84. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F84Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246U Settlement of liability by IHC as to ACT.U.K.
F85. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F85Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246V Settlement of liability by non-IHC as to ACT.U.K.
F86. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F86Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
246W Payments and repayments where further matching takes place.U.K.
F87. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F87Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
AdjustmentsU.K.
246X Adjustments where profits or foreign tax altered.U.K.
F88. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F88Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
Application of this ChapterU.K.
246Y Application of this Chapter.U.K.
F89. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F89Ss. 246A-246Y (Pt. 6 Ch. 5A) repealed (with effect in accordance with Sch. 6 para. 3(2)-(4) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 6 para. 3(1), Sch. 8 Pt. 2(11), Note
[F90CHAPTER VIU.K. MISCELLANEOUS AND SUPPLEMENTAL]
Textual Amendments
F90Pt. 6 Ch. 6 (ss. 249-254) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 22, Sch. 3 Pt. 1 (with Sch. 2)
Group incomeU.K.
247 Dividends etc. paid by one member of a group to another.U.K.
F91. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F91S. 247 repealed (with application in accordance with s. 85(6), Sch. 33 Pt. 2(10) Note of the repealing Act) by Finance Act 2001 (c. 9), s. 85(5), Sch. 33 Pt. 2(10)
248 Provisions supplementary to section 247.U.K.
F92. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F92S. 248 repealed (with application in accordance with s. 85(6), Sch. 33 Pt. 2(10) Note of the repealing Act) by Finance Act 2001 (c. 9), s. 85(5), Sch. 33 Pt. 2(10)
Stock dividendsU.K.
249 Stock dividends treated as income.U.K.
F93. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F93Pt. 6 Ch. 6 (ss. 249-254) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 22, Sch. 3 Pt. 1 (with Sch. 2)
250 Returns.U.K.
F94. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F94Pt. 6 Ch. 6 (ss. 249-254) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 22, Sch. 3 Pt. 1 (with Sch. 2)
251 Interpretation of sections 249 and 250.U.K.
F95. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F95Pt. 6 Ch. 6 (ss. 249-254) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 22, Sch. 3 Pt. 1 (with Sch. 2)
[F96Approved share incentive plansU.K.
Textual Amendments
F96Ss. 251A-251D and preceding cross-heading inserted (6.4.2003 with effect in accordance with s. 723(1) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 6 para. 34 (with Sch. 7)
251AApplication of sections 251B and 251CU.K.
F97. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F97Ss. 251A-251D repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 122, Sch. 3 (with Sch. 2)
251BTreatment of cash dividend retained and then later paid outU.K.
F98. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F98Ss. 251A-251D repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 122, Sch. 3 (with Sch. 2)
251CCharge on dividend shares ceasing to be subject to planU.K.
F99. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F99Ss. 251A-251D repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 122, Sch. 3 (with Sch. 2)
251DInterpretation of sections 251A to 251CU.K.
F100. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]
Textual Amendments
F100Ss. 251A-251D repealed (6.4.2005 with effect in accordance with s. 883(1) of the repealing Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), Sch. 1 para. 122, Sch. 3 (with Sch. 2)
SupplementalU.K.
252 Rectification of excessive set-off etc. of ACT or tax credit.U.K.
F101. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F101Pt. 6 Ch. 6 (ss. 249-254) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 22, Sch. 3 Pt. 1 (with Sch. 2)
253 Power to modify or replace section 234(5) to (9) and Schedule 13.U.K.
F102. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F102Pt. 6 Ch. 6 (ss. 249-254) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 22, Sch. 3 Pt. 1 (with Sch. 2)
254 Interpretation of Part VI.U.K.
F103. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F103Pt. 6 Ch. 6 (ss. 249-254) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 22, Sch. 3 Pt. 1 (with Sch. 2)
255“Gross rate” and “gross amount” of distributions to include ACT.U.K.
F104. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F104S. 255 repealed (with effect in accordance with Sch. 3 para. 23(2) of the repealing Act) by Finance Act 1998 (c. 36), Sch. 3 para. 23(1), Sch. 27 Pt. 3(2), Note