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Corporation Tax Act 2010

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This is the original version (as it was originally enacted).

1136“Qualifying distribution”

This section has no associated Explanatory Notes

(1)In the Corporation Tax Acts “qualifying distribution” means any distribution, except—

(a)one which is a distribution for corporation tax purposes only because it falls within paragraph C or D in section 1000(1) (redeemable share capital or security issued in respect of shares in, or securities of, the company), or

(b)a distribution which is derived from a distribution that falls within paragraph (a).

(2)A distribution made by a company (“A”) is derived from a distribution that falls within subsection (1)(a) if it consists of share capital or a security which A has received (directly or indirectly) from another company (“B”) which issued the share capital or security by way of a distribution that falls within subsection (1)(a).

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