http://www.legislation.gov.uk/id/ukpga/1988/1

6 The charge to corporation tax and exclusion of income tax and capital gains tax.

(1)

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

In this section F2. . . , Part VIII, Chapter IV of Part X and Part XI, except in so far as the context otherwise requires—

(a)

“profits” means income and chargeable gains; and

(b)

“trade” includes “vocation”, and also includes an office or employment or the occupation of woodlands in any context in which the expression is applied to that in the Income Tax Acts.

F3(4A)

F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)

Part VIII contains general provisions relating to the taxation of profits of companies.

7 Treatment of certain payments and repayment of income tax.

(1)

F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)

Subject to the provisions of the Corporation Tax Acts, where a company resident in the United Kingdom receives any payment on which it bears income tax by deduction, the income tax thereon shall be set off against any corporation tax assessable on the company F6. . . for the accounting period in which that payment falls to be taken into account for corporation tax (or would fall to be taken into account but for any exemption from corporation tax); and accordingly in respect of that payment the company, unless wholly exempt from corporation tax, shall not be entitled to a repayment of income tax before the assessment for that accounting period is finally determined and it appears that a repayment is due.

(3)

M1 Subsection (2) above does not apply to a payment of relevant loan interest to which section 369 applies.

(4)

M2 References in this section to payments received by a company apply to any received by another person on behalf of or in trust for the company, but not to any received by the company on behalf of or in trust for another person.

F7(5)

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F7(6)

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F7(7)

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8 General scheme of corporation tax.

F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F98A Resolutions to reduce corporation tax.

F10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 Computation of income: application of income tax principles.

(1)

F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)

F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F12(2A)

F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2B)

F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2C)

F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5)

Where F13. . . any enactment applies both to income tax and to corporation tax—

(a)

it shall not be affected in its operation by the fact that they are distinct taxes but, so far as is consistent with the Corporation Tax Acts, shall apply in relation to income tax and corporation tax as if they were one tax, so that, in particular, a matter which in a case involving two individuals is relevant for both of them in relation to income tax shall in a like case involving an individual and a company be relevant for him in relation to that tax and for it in relation to corporation tax; and

(b)

for that purpose references in any such enactment to a relief from or charge to income tax, or to a specified provision of the Income Tax Acts shall, in the absence of or subject to any express adaptation, be construed as being or including a reference to any corresponding relief from or charge to corporation tax, or to any corresponding provision of the Corporation Tax Acts.

(6)

F14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10 Time for payment of tax.

F15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

11 Companies not resident in United Kingdom.

F16(1)

F17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)

F17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2A)

F17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

F18. . . Where a company not resident in the United Kingdom receives any payment on which it bears income tax by deduction, and the payment forms part of, or is to be taken into account in computing, the company’s income chargeable to corporation tax, the income tax thereon shall be set off against any corporation tax assessable on that income F19. . . for the accounting period in which the payment falls to be taken into account for corporation tax; and accordingly in respect of that payment the company shall not be entitled to a repayment of income tax before the assessment for that accounting period is finally determined and it appears that a repayment is due.

(4)

M3Subsection (3) above does not apply to a payment of relevant loan interest to which section 369 applies.

F2011AADetermination of profits attributable to permanent establishment

F21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

12 Basis of, and periods for, assessment.

(1)