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Corporation Tax Act 2010

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Changes over time for: Section 550

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Version Superseded: 17/07/2013

Status:

Point in time view as at 31/01/2013. This version of this provision has been superseded. Help about Status

Changes to legislation:

Corporation Tax Act 2010, Section 550 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. Help about Changes to Legislation

550Attribution of distributionsU.K.
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(1)Subsection (2) applies to—

(a)distributions made by the principal company of a group UK REIT, and

(b)distributions made by a company UK REIT.

(2)The distributions are to be attributed—

(a)first, to [F1distributions] in satisfaction of the condition in section 530 (distribution of profits),

(b)second, so far as the company determines, to distribution of amounts which derive from activities of a kind in respect of which corporation tax is chargeable in relation to income,

(c)third, to distribution of profits of property rental business (calculated in accordance with section 599),

(d)fourth, to distribution of relevant non-chargeable gains, and

(e)fifth, to other distributions.

(3)In subsection (2)(d) “relevant non-chargeable gains” means—

(a)in the case of a group, gains accruing to property rental business of a member of the group, and

(b)in the case of a company, gains accruing to property rental business of the company,

which as a result of section 535 are not chargeable gains.

Textual Amendments

F1Word in s. 550(2)(a) substituted (with effect in accordance with Sch. 4 para. 12 of the amending Act) by Finance (No. 3) Act 2010 (c. 33), Sch. 4 para. 6

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