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Finance Act 2016

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Finance Act 2016, Paragraph 44 is up to date with all changes known to be in force on or before 27 January 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

44(1)Section 1115 (meaning of “new consideration” in Part 23) is amended as follows.U.K.

(2)In subsections (5)(a) and (6)(b) for “qualifying” substitute “ non-CD ”.

(3)After subsection (6) insert—

(7)In this section “non-CD distribution” means any distribution other than one which is a distribution for the purposes of the Corporation Tax Acts only because it falls within paragraph C or D in section 1000(1) (redeemable share capital or security issued as bonus in respect of shares in, or securities of, the company).

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