Part 23U.K.Company distributions

Modifications etc. (not altering text)

C1Pt. 23 applied (with modifications) by 2003 c. 1, s. 554AC(3) (as inserted (with effect in accordance with Sch. 1 para. 14 of the amending Act) by Finance Act 2018 (c. 3), Sch. 1 para. 2)

Chapter 3U.K.Matters which are not distributions

Purchase of own sharesU.K.

1034Requirements as to residenceU.K.

(1)The seller must be resident F1... in the United Kingdom in the tax year in which the purchase is made.

(2)If the shares are held through a nominee, the nominee must also be resident F1... in the United Kingdom in the tax year in which the purchase is made.

(3)The residence F2... of personal representatives are taken for the purposes of this section to be the same as the deceased person's residence F2... immediately before that person's death.

F3(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Words in s. 1034(1)(2) omitted (17.7.2013) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 145(2) (with Sch. 46 para. 145(5))

F2Words in s. 1034(3) omitted (17.7.2013) by virtue of Finance Act 2013 (c. 29), Sch. 46 para. 145(3) (with Sch. 46 para. 145(5))