C1Part 23Company distributions
Annotations:
Modifications etc. (not altering text)
Chapter 4Special rules for distributions made by certain companies
Members of a 90% group
1072Members of a 90% group
1
In the Corporation Tax Acts “distribution”, in relation to a company which is a member of a 90% group, includes anything distributed out of assets of the company (whether in cash or otherwise) in respect of shares in or securities of another company in the group.
2
Subsection (1) is without prejudice to paragraph B in section 1000(1) (distributions, other than dividends, in respect of shares) as extended by section 1113(1).
3
Nothing in subsection (1) requires a company to be treated as making a distribution to any other company which is in the same group and is UK resident.
4
In this section “90% group” means a company and all its 90% subsidiaries.
Pt. 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)