PART VI COMPANY DISTRIBUTIONS, TAX CREDITS ETC
C1CHAPTER I TAXATION OF COMPANY DISTRIBUTIONS
207AF1 Application of lower rate to company distributions.
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
208 U.K. company distributions not generally chargeable to corporation tax.
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F9CHAPTER II MATTERS WHICH ARE DISTRIBUTIONS FOR THE PURPOSES OF THE CORPORATION TAX ACTS
Pt. 6 Ch. 2 (ss. 209-211) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 14, Sch. 3 Pt. 1 (with Sch. 2)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”.
F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
209AF10 Section 209(3AA): link to shares of company or associated company
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209B Section 209(3AA): hedging arrangements
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210 Bonus issue following repayment of share capital.
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211 Matters to be treated or not to be treated as repayments of share capital.
F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F33CHAPTER III MATTERS WHICH ARE NOT DISTRIBUTIONS FOR THE PURPOSES OF THE CORPORATION TAX ACTS
Pt. 6 Ch. 3 (ss. 212-230A) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 15, Sch. 3 Pt. 1 (with Sch. 2)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 interest
212 Interest etc. paid in respect of certain securities.
F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Demergers
213 Exempt distributions.
F12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
213AF19Exempt distributions: division of business
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214 Chargeable payments connected with exempt distributions.
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215 Advance clearance by Board of distributions and payments.
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216 Returns.
F16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
217 Information.
F17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
218 Interpretation of sections 213 to 217.
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Stock dividends
230 Stock dividends: distributions.
F31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F34Industrial and provident society dividends etc
S. 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 society
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CHAPTER IV TAX CREDITS
231 Tax credits for certain recipients of qualifying distributions.
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231AF48 Restrictions on the use of tax credits by pension funds.
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231AAF49 No tax credit for borrower under stock lending arrangement or interim holder under repurchase agreement.
F37. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
231ABF50 No tax credit for original owner under repurchase agreement in respect of certain manufactured dividends.
F38. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
231BF51 Consequences of certain arrangements to pass on the value of a tax credit.
F39. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
232 Tax credits for non-U.K. residents.
F40. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
233 Taxation of certain recipients of distributions and in respect of non-qualifying distributions.
F41. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
234 Information relating to distributions.
F42. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F43234A Information relating to distributions: further provisions.
F44. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F45235 Distributions of exempt funds etc.
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F46236 Provisions supplementary to section 235.
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F47237 Disallowance of reliefs in respect of bonus issues.
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CHAPTER V ADVANCE CORPORATION TAX AND FRANKED INVESTMENT INCOME
238 Interpretation of terms and collection of ACT.
F52. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
239 Set-off of ACT against liability to corporation tax.
F53. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
240 Set-off of company’s surplus ACT against subsidiary’s liability to corporation tax.
F54. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
241 Calculation of ACT where company receives franked investment income.
F55. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
242 Set-off of losses etc. against surplus of franked investment income.
F56. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
243 Set-off of loss brought forward, or terminal loss.
F57. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
244 Further provisions relating to claims under section 242 or 243.
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245 Calculation etc. of ACT on change of ownership of company.
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245AF60 Restriction on application of section 240 in certain circumstances.
F61. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
245B Restriction on set-off where asset transferred after change in ownership of company.
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246 Charge of ACT at previous rate until new rate fixed, and changes of rate.
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F104F88Chapter VA Foreign Income Dividends
Pt. 6 Ch. 5A (ss. 246A-246Y) inserted (3.5.1994) by Finance Act 1994 (c. 9), Sch. 16 para. 1
Ss. 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 dividend
246A Election by company paying dividend.
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246B Procedure for making election.
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Recipient of foreign income dividend
246C No tax credit for recipient.
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246D Individuals etc.
F67. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Companies: payments and receipts
246E Foreign income dividend not franked payment.
F68. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
246F Calculation of ACT where company receives foreign income dividend.
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246G Information relating to foreign income dividends.
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246H Power of inspector to require information.
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Foreign source profit and distributable foreign profit
246I Foreign source profit and distributable foreign profit.
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Matching of dividend with distributable foreign profit
246J Matching of dividend with distributable foreign profit.
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246K Matching: subsidiaries.
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246L Requirement as to subsidiaries.
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246M Matching: further provisions.
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Repayment or set-off of advance corporation tax
246N ACT to be repaid or set off against corporation tax liability.
F77. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
246P Notional foreign source advance corporation tax.
F78. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
246Q Repayment or set-off: supplementary.
F79. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
246R Supplementary claims.
F80. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
International headquarters companies
246S International headquarters companies.
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246T Liability to pay ACT displaced.
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246U Settlement of liability by IHC as to ACT.
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246V Settlement of liability by non-IHC as to ACT.
F84. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
246W Payments and repayments where further matching takes place.
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Adjustments
246X Adjustments where profits or foreign tax altered.
F86. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Application of this Chapter
246Y Application of this Chapter.
F87. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F102CHAPTER VI MISCELLANEOUS AND SUPPLEMENTAL
Pt. 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 income
247 Dividends etc. paid by one member of a group to another.
F89. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
248 Provisions supplementary to section 247.
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Stock dividends
249 Stock dividends treated as income.
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250 Returns.
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251 Interpretation of sections 249 and 250.
F93. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Supplemental
252 Rectification of excessive set-off etc. of ACT or tax credit.
F98. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
253 Power to modify or replace section 234(5) to (9) and Schedule 13.
F99. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
254 Interpretation of Part VI.
F100. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
255“Gross rate” and “gross amount” of distributions to include ACT.
F101. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Pt. 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)