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House of Commons

Session 2008 - 09 Internet Publications Other Bills before Parliament

Corporation Tax Bill

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    Plan termination 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
Corporation Tax Bill xlviii
1000    Deduction for costs of setting up employee share ownership trust
Part 12
Other relief for employee share acquisitions
Chapter 1
Introduction
Introductory
1001    Overview of Part
Interpretation
1002    “Employment”
1003    “Shares” etc
1004    Groups, consortiums and commercial associations of companies
1005    Other definitions
Chapter 2
Relief if shares acquired by employee or other person
Introductory
1006    Overview of Chapter
Requirements to be met for relief to be available
1007    Basic requirements for relief under Chapter 2
1008    Conditions relating to shares acquired
1009    Conditions relating to employee’s income tax position
Calculation of amount of relief
1010    Calculation of relief if shares are neither restricted nor convertible
1011    Calculation of relief if shares are restricted or convertible
1012    Reduction in amount of relief
Giving of relief
1013    How the relief is given
Chapter 3
Relief if employee or other person obtains option to acquire shares
Introductory
1014    Overview of Chapter
Corporation Tax Bill xlix
Requirements to be met for relief to be available
1015    Basic requirements for relief under Chapter 3
1016    Conditions relating to shares acquired
1017    Condition relating to employee’s income tax position
Calculation of amount of relief
1018    Calculation of relief if shares are neither restricted nor convertible
1019    Calculation of relief if shares are restricted or convertible
1020    Reduction in amount of relief
Giving of relief
1021    How the relief is given
Takeovers and transfers of businesses
1022    Takeover of company whose shares are subject to option
1023    Supplementary provision for purposes of section 1022
1024    Transfer of qualifying business by group transfers
Chapter 4
Additional relief in cases involving restricted shares
1025    Additional relief available if shares acquired are restricted shares
1026    Relief available on occurrence of chargeable event
1027    Relief available on death of employee
1028    Supplementary provision for purposes of sections 1026 and 1027
1029    Transfer of qualifying business by group transfers
Chapter 5
Additional relief in cases involving convertible securities
1030    Application of Chapter
1031    Additional relief available if shares acquired are convertible shares etc
1032    Meaning of “chargeable event”
1033    Relief available on occurrence of chargeable event
1034    Relief available following death of employee
1035    Supplementary provision for purposes of sections 1033 and 1034
1036    Transfer of qualifying business by group transfers
Chapter 6
Relationship between relief under this Part and other reliefs
1037    Priority of Chapter 1 of Part 11
1038    Exclusion of other deductions

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