Point in time view as at 31/01/2013.
Corporation Tax Act 2010, Section 1028 is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)A chargeable payment made within 5 years after an exempt distribution is not to be (if it otherwise would be) treated as a repayment of share capital for the purposes of sections 1022 and 1023 (bonus issue following repayment of share capital).
(2)The purpose of the provisions about demergers (which include this section) is set out in section 1074.
(3)In this section—
(a)“chargeable payment” has the meaning given by section 1088, and
(b)“exempt distribution” has the meaning given by section 1075(2).
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