234 Information relating to distributions.U.K.
(1)M1Without prejudice to [F1section 234A]. . . , a company which makes a qualifying distribution shall, if the recipient so requests in writing, furnish to him a statement in writing showing the amount or value of the distribution and (whether or not the recipient is a person entitled to a tax credit in respect of the distribution) the amount of the tax credit to which a recipient who is such a person is entitled in respect of that distribution.
(2)The duty imposed by subsection (1) above shall be enforceable at the suit or instance of the person requesting the information.
F2(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F2(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5)M2Where a company makes a distribution which is not a qualifying distribution it shall make a return to the inspector—
(a)within 14 days from the end of the accounting period in which the distribution is made; or
(b)if the distribution is made on a date not falling in an accounting period, within 14 days from that date.
(6)A return under subsection (5) above shall contain—
(a)particulars of the transaction giving rise to the distribution; and
(b)the name and address of the person, or each of the persons, receiving the distribution, and the amount or value of the distribution received by him or by each of them.
(7)Where it is not in the circumstances apparent whether a transaction gives rise to a distribution in respect of which a return is required to be made under subsection (5) above, the company shall—
(a)within the time within which such a return would be required to be made if the transaction did give rise to such a distribution, make a return to the inspector containing particulars of the transaction in question; and
(b)if required by a notice served on the company by the inspector, furnish him within the time specified in the notice with such further information in relation to the transaction as he may reasonably require.
(8)If it appears to the inspector that particulars of any transaction ought to have been and have not been included in a return under subsection (5) or (7) above, he may by a notice served on the company require the company to furnish him within the time specified in the notice with such information relating thereto as he may reasonably require.
(9)Any power which the inspector may exercise under [F3paragraphs [F43 and] 4 of Schedule 12 to the Finance Act 1989 for the purposes of the relevant provisions (as defined in paragraph 1 of that Schedule)] may be exercised by him for the purposes of subsections (5) to (8) above.
Textual Amendments
F1Words in s. 234(1) substituted (with application in relation to distributions begun after 16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 32(2)(a)(4).
F2S. 234(3)(4) repealed (with application in relation to distributions begun after 16.7.1992) by Finance (No. 2) Act 1992 (c. 48), ss. 32(2)(b)(4), 82, Sch. 18 Pt.VII.
F31989 s.107and Sch.12 para.11.Previously
“paragraph 17 of Schedule 19 for the purposes of that Schedule”.
F4Words in s. 234(9) substituted (13.8.2009) by The Finance Act 2009, Schedule 47 (Consequential Amendments) Order 2009 (S.I. 2009/2035), art. 1, Sch. para. 15
Modifications etc. (not altering text)
C1S. 234 applied (16.8.1995) by The Venture Capital Trust Regulations 1995 (S.I. 1995/1979), reg. 21(2)
Marginal Citations
M1Source—1970 s.232(4); 1972 Sch.24 18
M2Source—1972 Sch.21