Corporation Tax Act 2010

Chapter 5 U.K. Other Corporation Tax Acts provisions

1166 Scotland U.K.

(1) In the application of the Corporation Tax Acts to Scotland—

• “assignment” means assignation,

• “estate in land” includes the land,

• “mortgage” means—

  (a)

  a standard security, or

  (b)

  a heritable security, as defined in the Conveyancing (Scotland) Act 1924, but including a security constituted by ex facie absolute disposition or assignation, and

• “surrender” includes renunciation.

(2) In the application of the Corporation Tax Acts to Scotland, any reference to property or rights being held on trust or on trusts is a reference to the property or rights being held in trust.

1167 Sources of income within the charge to corporation tax or income tax U.K.

In the Corporation Tax Acts, a source of income is within the charge to corporation tax or income tax if that tax—

(a) is chargeable on the income arising from it, or

(b) would be so chargeable if there were any income arising from it,

and references to a person, or income, being within the charge to corporation tax or income tax are to be read in the same way.

1168 Payment of dividends U.K.

(1) For the purposes of the Corporation Tax Acts dividends are to be treated as paid on the date when they become due and payable.

(2) Subsection (1) is subject to any provision to the contrary.

1169 Settlements and trustees U.K.

(1) Chapter 2 of Part 9 of ITA 2007 (which relates to settlements and trustees) applies for the purposes of the Corporation Tax Acts as it applies for the purposes of the Income Tax Acts.

(2) See (in particular)—

(a) section 466 of that Act, which explains what is meant by references to settled property, and

(b) sections 467 to 473 of that Act, which explain what is meant by references to a settlor in relation to a settlement.

1170 Territorial sea of the United Kingdom U.K.

The territorial sea of the United Kingdom is treated for the purposes of the Corporation Tax Acts as part of the United Kingdom.

1171 Orders and regulations U.K.

(1) This section applies to all powers under the Corporation Tax Acts of the Treasury or the Commissioners for Her Majesty's Revenue and Customs to make orders or regulations, other than excluded powers.

(2) All powers under the following are excluded—

(a) ICTA (see instead section 828 of that Act),

(b) TCGA 1992 (see instead section 287 of that Act),

(c) CAA 2001 (see instead section 570B of that Act),

(d) Part 4 of FA 2004 (see instead section 282 of that Act),

(e) CTA 2009 (see instead section 1310 of that Act),

(f) TIOPA 2010 (see instead section 372 of that Act), and

(g) the following provisions of this Act—

(i) section 204(3) (markets in the United Kingdom on which shares or securities are dealt in), and

(ii) section 1150(1) (meaning of “investment transaction”).

(3) Any power to which this section applies is exercisable by statutory instrument.

(4) Any statutory instrument containing any order or regulations made under a power to which this section applies is subject to annulment in pursuance of a resolution of the House of Commons.

(5) Subsection (4) does not apply in relation to any order or regulations made under—

(a) section 73A of FA 2004 (exemption for designated international organisations), or

(b) either of the following provisions of this Act—

(i) section 1120(2)(e) (designation of international organisations as banks), or

(ii) section 1180(2) (power to make transitional or saving provision in connection with the coming into force of this Act).

(6) Further, subsection (4) does not apply—

(a) if any other Parliamentary procedure is expressly provided to apply in relation to the order or regulations, or

(b) if the order in question appoints a day for the purposes of any provision of the Corporation Tax Acts from which the provision will have effect (with or without amendments) or will cease to have effect.

(7) Subsection (4) is also subject to any other provision to the contrary.

1172 Apportionment to different periods U.K.

(1) Any apportionment to different periods which falls to be made under the Corporation Tax Acts is to be made on a time basis according to the respective lengths of the periods.

(2) Subsection (1) is subject to any provision to the contrary.

1173 Miscellaneous charges U.K.

(1) In the Corporation Tax Acts references to any provision to which this section applies are references to any provision listed in the following table, so far as the provision relates to corporation tax (but subject to any applicable limitation in subsection (3)).

(2) This is the table—

PART 1

Provisions of CTA 2009	Description
Chapter 15 of Part 3	Post-cessation receipts: trades
Chapter 7 of Part 4	Rent receivable in connection with a UK section 39(4) concern
Chapter 8 of Part 4	Rent receivable for UK electric-line wayleaves
Chapter 9 of Part 4	Post-cessation receipts: UK property businesses
Section 752	Non-trading gains on intangible fixed assets
Section 908	Profits from disposals of know-how
Section 912	Profits from sales of patent rights
Section 965(4)	Adjustments after the administration period
Chapter 8 of Part 10	Income not otherwise charged
Section 986(4), so far as it relates to an amount treated as received under section 998(3)	Withdrawal of deductions if approval for share incentive plan withdrawn: non-trading cases
Section 1083(5)	Refunds of expenditure on research and development
Section 1229	Management expenses: claw back of relief
Section 1252	Industrial development grants: companies with investment business
Section 1253	Contributions to local enterprise organisations or urban regeneration companies: disqualifying benefits
Section 1254	Repayments under FISMA 2000
Section 1277(4)	Withdrawal of relief for unremittable foreign income after source ceases

PART 2

Provisions of this Act	Description
Section 538(3)	Real estate investment trusts: entry charge
Section 636(1)	Banks etc in compulsory liquidation
Section 779(2)	Loan or credit transactions
Section 818(1)	Gains from transactions in land
Section 851(8)	Sale and lease-back: taxation of consideration
Section 874(1)	Leased assets: capital sums
Section 1086(2)	Chargeable payments connected with exempt distributions

PART 3

Other provisions	Description
Section 56(2) of ICTA	Transactions in deposits
Section 436A(1) of ICTA	Gross roll-up business: separate charge on profits
Section 442A(1) of ICTA	Taxation of investment return where risk reinsured
Section 571(1) of ICTA	Cancellation of tax certificates
Section 774(1) of ICTA	Transactions between dealing company and associated company
Section 85(1) of FA 1989	Certain receipts of basic life assurance and general annuity business
Section 85A(1) of FA 1989	Excess adjusted life assurance trade profits
Section 256(2) of CAA 2001	Life assurance business: capital allowances
Section 254(2) of TIOPA 2010	Tax arbitrage: calculation or recalculation of income etc following receipt notice
Regulation 18(4) of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001)	Offshore income gains

(3) The reference in Part 1 of the above table to Chapter 8 of Part 10 of CTA 2009 does not include that Chapter so far as relating to income which arises from a source outside the United Kingdom.