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Changes over time for: Section 109


Llinell Amser Newidiadau
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 31/01/2013.
Changes to legislation:
Corporation Tax Act 2010, Section 109 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.

Changes to Legislation
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
109Restriction on losses etc surrenderable by dual residentU.K.
This
adran has no associated
Nodiadau Esboniadol
(1)This section applies if in the surrender period the surrendering company is UK resident and is also within a charge to non-UK tax under the law of a territory because—
(a)it derives its status as a company from that law,
(b)its place of management is in that territory, or
(c)it is for some other reason treated under that law as resident in that territory for the purposes of that tax.
(2)If condition A, B or C is met, the surrendering company may not surrender any losses or other amounts under this Chapter.
(3)Condition A is that the surrendering company is not a trading company throughout the surrender period.
(4)Condition B is that in the surrender period the surrendering company carries on a trade of such a description that the company's main function, or one of its main functions, consists of one or more of the following activities.
Activity 1
Acquiring and holding shares, securities or investments of any other kind (whether directly or indirectly).
Activity 2
Making, under loan relationships, payments in relation to which debits fall to be brought into account for the purposes of Part 5 of CTA 2009.
Activity 3
Making payments which are qualifying charitable donations.
Activity 4
Making payments similar to those within Activity 3 but which are deductible in calculating the profits of the surrendering company for corporation tax purposes.
Activity 5
Obtaining funds for the purposes of, or otherwise in connection with, any of Activities 1 to 4.
(5)Condition C is that in the surrender period the surrendering company carries on one or more of Activities 1 to 5—
(a)to an extent that does not appear to be justified by any trade which it carries on, or
(b)for a purpose that does not appear to be appropriate to any such trade.
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