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House of Commons

Session 2008 - 09 Internet Publications Other Bills before Parliament

Corporation Tax Bill

Corporation Tax Bill xli
Assets ceasing to be or becoming chargeable intangible assets
859    Asset ceasing to be chargeable intangible asset: deemed realisation at market
value
860    Asset ceasing to be chargeable intangible asset: postponement of gain
861    Treatment of postponed gain on subsequent realisation
862    Treatment of postponed gain in other cases
863    Asset becoming chargeable intangible asset
Matters to be ignored
864    Tax avoidance arrangements to be ignored
865    Debits for expenditure not generally deductible for tax purposes
Delayed payments and bad debts
866    Delayed payment of employees’ remuneration
867    Provisions supplementing section 866
868    Delayed payment of pension contributions
869    Bad debts etc
Controlled foreign companies
870    Assumptions for calculating chargeable profits
Chapter 15
Adjustments on change of accounting policy
Introductory
871    Introduction to Chapter
Change of policy involving change of value
872    Adjustments in respect of change
873    Effect of application of section 872 in later period and subsequently
Change of policy involving disaggregation
874    Original asset not subject to fixed-rate writing down
875    Effect of application of section 874 in later period and subsequently
876    Original asset subject to fixed-rate writing down
877    Election for fixed-rate writing down in relation to resulting asset
Supplementary
878    Exclusion of credits or debits brought into account under other provisions
879    Subsequent events affecting asset subject to adjustment under this Chapter
Corporation Tax Bill xlii
Chapter 16
Pre-FA 2002 assets etc
Introduction
880    Overview of Chapter
881    Meaning of “pre-FA 2002 assets”
General rule
882    Application of this Part to assets created or acquired on or after 1 April 2002
When assets are treated as created or acquired
883    Assets treated as created or acquired when expenditure incurred
884    Internally-generated goodwill: time of creation
885    Certain other internally-generated assets: time of creation
886    Assets representing production expenditure on films: time of creation
When expenditure treated as incurred
887    General rule
888    Cases where chargeable gains rule applies
889    Cases where capital allowances general rule applies
Fungible assets
890    Fungible assets: application of section 858
891    Realisation and acquisition of fungible assets
Assets treated as pre-FA 2002 assets
892    Certain assets acquired on transfer of business
893    Assets whose value derives from pre-FA 2002 assets
894    The preserved status conditions etc
895    Assets acquired in connection with disposals of pre-FA 2002 assets
Application of Part to royalties and telecommunication rights
896    Application to royalties
897    Application to pre-FA 2002 assets consisting of telecommunication rights
Roll-over relief for disposals of pre-FA 2002 assets
898    Relief where assets disposed of on or after 1 April 2002
899    Relief where degrouping charge on asset arises on or after 1 April 2002
900    Meaning of “chargeable asset within TCGA” in sections 898 and 899
Corporation Tax Bill xliii
Chapter 17
Insurance companies
Effect of application of the I minus E basis: non-trading amounts
901    Effect of application of the I minus E basis: non-trading amounts
Excluded assets and computer software
902    Excluded assets
903    Elections to exclude capital expenditure on computer software
Miscellaneous
904    Transfers of life assurance business: transfers of assets treated as tax-neutral
905    Pre-FA 2002 assets: Lloyd’s syndicate capacity
Chapter 18
Priority rules
906    Priority of this Part for corporation tax purposes
Part 9
Intellectual property: know-how and patents
Chapter 1
Introduction
907    Overview of Part
Chapter 2
Disposals of know-how
908    Charge to tax on profits from disposals of know-how
909    Exceptions to charge under section 908
910    Profits charged under section 908
Chapter 3
Sales of patent rights
Introductory
911    Overview of Chapter
Charge to tax
912    Charge to tax on profits from sales of patent rights
913    Profits charged under section 912
Corporation Tax Bill xliv
Spreading of charge to tax
914    UK resident companies: proceeds of sale not received in instalments
915    UK resident companies: proceeds of sale received in instalments
916    Non-UK resident companies: proceeds of sale not received in instalments
917    Non-UK resident companies: proceeds of sale received in instalments
918    Winding up of a body corporate
Miscellaneous
919    Deduction of tax from payments to non-UK resident companies
920    Adjustments where tax has been deducted
921    Licences connected with patents
922    Rights to acquire future patent rights
923    Sums paid for Crown use etc treated as paid under licence
Chapter 4
Relief from corporation tax on patent income
924    Relief for expenses: patent income
925    How relief is given under section 924
Chapter 5
Supplementary
926    Contributions to expenditure
927    Contributions not made by public bodies nor eligible for tax relief
928    Exchanges
929    Apportionment where property sold together
930    Questions about apportionments affecting two or more persons
931    Meaning of “capital sums” etc
Part 10
Miscellaneous income
Chapter 1
Introduction
932    Overview of Part
Chapter 2
Dividends of non-UK resident companies
933    Charge to tax on dividends of non-UK resident companies
Corporation Tax Bill xlv
Chapter 3
Beneficiaries’ income from estates in administration
Introduction
934    Charge to tax on estate income
935    Absolute, limited and discretionary interests
936    Meaning of “UK estate” and “foreign estate”
Types of estate income
937    Absolute interests in residue
938    Meaning of “the administration period”, “the final accounting period” and
“the final tax year”
939    Limited interests in residue
940    Discretionary interests in residue
Income charged
941    UK estates
942    Foreign estates
Basic amount of estate income: general calculations rules
943    Absolute interests
944    Limited interests
945    Discretionary interests
946    Applicable rate for grossing up basic amounts of estate income
947    Aggregate income of the estate
Further provisions for calculating estate income relating to absolute interests
948    Assumed income entitlement
949    Residuary income of the estate
950    Shares of residuary income of estate
951    Reduction in share of residuary income of estate
952    Applicable rate for determining assumed income entitlement (UK estates)
Successive interests
953    Introduction
954    Successive absolute interests
955    Assumed income entitlement of holder of absolute interest following limited
interest
956    Payments in respect of limited interests followed by absolute interests
957    Holders of limited interests
958    Basic amount of estate income: successive limited interests
959    Apportionments
Relief where foreign estates have borne UK income tax
960    Relief in respect of tax relating to absolute interests
961    Relief in respect of tax relating to limited or discretionary interests
Corporation Tax Bill xlvi
General
962    Income from which basic amounts are treated as paid
963    Income treated as bearing income tax
964    Transfers of assets etc treated as payments
965    Assessments, adjustments and claims after the administration period
966    Power to obtain information from personal representatives and beneficiaries
967    Statements relating to estate income
Supplementary
968    Meaning of “personal representatives”
Chapter 4
Income from holding an office
969    Charge to tax on income from holding an office
970    Rule restricting deductions for bad debts
Chapter 5
Distributions from unauthorised unit trusts
971    Overview of Chapter
972    Charge to tax under this Chapter
973    Amount of income treated as received
Chapter 6
Sale of foreign dividend coupons
974    Charge to tax under this Chapter
975    Meaning of “foreign holdings” etc
Chapter 7
Annual payments not otherwise charged
976    Overview of Chapter
977    Charge to tax on annual payments not otherwise charged
978    Exemption for payments by persons liable to pool betting duty
Chapter 8
Income not otherwise charged
979    Charge to tax on income not otherwise charged
980    Exemption for commercial occupation of woodlands in UK
981    Exemption for gains on financial futures
Corporation Tax Bill xlvii
Chapter 9
Priority rules
982    Provisions which must be given priority over this Part
Part 11
Relief for particular employee share acquisition schemes
Chapter 1
Share incentive plans
Introductory
983    Overview of Chapter
984    Chapter to form part of SIP code etc
Deductions and receipts: general
985    References to a deduction being allowed to a company
986    Treatment of receipts under Chapter
Deductions relating to setting up and running costs
987    Deduction for costs of setting up an approved share incentive plan
988    Deductions for running expenses of an approved share incentive plan
Deductions relating to payments used to acquire shares
989    Deduction for contribution to plan trust
990    Withdrawal of deduction under section 989
991    Another deduction to be allowed if all acquired shares are awarded
992    Award of shares to excluded employee
993    Termination plan notice
Deductions relating to provision of certain types of shares
994    Deduction for providing free or matching shares
995    Deduction for additional expense in providing partnership shares
996    Shares excluded from sections 994 and 995
997    No deduction for expenses in providing dividend shares
Withdrawal of approval for a plan
998    Withdrawal of deductions if approval for share incentive plan withdrawn
Chapter 2
SAYE option schemes, company share option schemes and employee share
options trusts
999    Deduction for costs of setting up SAYE option scheme or CSOP scheme

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