Part 23 Company distributions

Chapter 5 Demergers

Introduction

1073 Key terms etc
(1) The following are key terms in this Chapter—
(a) “chargeable payment” (see sections 1088 and 1089),
(b) “company concerned in an exempt distribution” (see section 1090),
(c) “the distributing company” (see section 1079),
(d) “exempt distribution” (defined in section 1075), and
(e) “relevant company” (defined in section 1080).
(2) For a further rule about chargeable payments made within 5 years after an exempt distribution see section 1028 (rule that they are not treated as repayments of capital for certain purposes).