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Corporation Tax Bill


Corporation Tax Bill

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Chapter 6

Information and returns: further provisions

General duties to provide information

1100   

Qualifying distributions: right to request a statement

1101   

Non-qualifying distributions etc: returns and information

1102   

Non-qualifying distributions etc: additional information

1103   

Power to modify or replace sections 1101 and 1102

Companies and nominees required to provide tax certificates

1104   

Company distributing dividend or interest: duty to provide tax certificates

1105   

Duties of nominees

1106   

Meaning of “tax certificate” etc

1107   

Penalties

1108   

Alternative means of compliance with sections 1104 and 1105

Chapter 7

Tax credits

1109   

Tax credits for certain recipients of exempt qualifying distributions

1110   

Recovery of overpaid tax credit etc

1111   

Section 1110: supplementary

Chapter 8

Interpretation of Part

1112   

Arrangements between companies

1113   

“In respect of shares”

1114   

“In respect of securities”

1115   

“New consideration”

1116   

References to married persons, or civil partners, living together

1117   

Other interpretation

Part 24

Corporation Tax Acts definitions etc

Chapter 1

Definitions

1118   

Introduction to Chapter

1119   

The definitions

1120   

“Bank”

1121   

“Company”

1122   

“Connected” persons

1123   

“Connected” persons: supplementary

1124   

“Control”

1125   

“Farming” and related expressions

 
 

Corporation Tax Bill

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1126   

“Franked investment income”

1127   

“Generally accepted accounting practice” and related expressions

1128   

“Grossing up”

1129   

“Hire-purchase agreement”

1130   

“Local authority”

1131   

“Local authority association”

1132   

“Offshore installation”

1133   

Regulations about the meaning of “offshore installation”

1134   

“Oil and gas exploration and appraisal”

1135   

“Property investment LLP”

1136   

“Qualifying distribution”

1137   

“Recognised stock exchange”

1138   

“Research and development”

1139   

“Tax advantage”

1140   

“Unauthorised unit trust”

Chapter 2

Permanent establishments

General

1141   

Permanent establishments of companies

Circumstances where there is no permanent establishment

1142   

Agent of independent status

1143   

Preparatory or auxiliary activities

1144   

Alternative finance arrangements

Brokers

1145   

The independent broker conditions

Investment managers

1146   

The independent investment manager conditions

1147   

Investment managers: the 20% rule

1148   

Section 1147: interpretation

1149   

Application of 20% rule to collective investment schemes

1150   

Meaning of “investment manager” and “investment transaction”

Lloyd’s agents

1151   

Lloyd’s agents

Supplementary

1152   

Investment managers: disregard of certain chargeable profits

1153   

Miscellaneous

 
 

Corporation Tax Bill

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Chapter 3

Subsidiaries

1154   

Meaning of “51% subsidiary”, “75% subsidiary” and “90% subsidiary”

1155   

Indirect ownership of ordinary share capital

1156   

Calculation of amounts owned indirectly: main rules

1157   

Adding fractions together

Chapter 4

Investment trusts

1158   

Meaning of “investment trust”

1159   

Conditions for approval

1160   

Calculation of income

1161   

The income retention condition: exceptions

1162   

The 15% holding limit: exceptions

1163   

Basic meaning of “holding in a company”

1164   

More about the meaning of “holding in a company”

1165   

Other interpretation

Chapter 5

Other Corporation Tax Acts provisions

1166   

Scotland

1167   

Sources of income within the charge to corporation tax or income tax

1168   

Payment of dividends

1169   

Settlements and trustees

1170   

Territorial sea of the United Kingdom

1171   

Orders and regulations

1172   

Apportionment to different periods

1173   

Miscellaneous charges

Part 25

Definitions for purposes of Act and final provisions

Definitions for the purposes of Act

1174   

Abbreviated references to Acts

1175   

Claims and elections

1176   

Meaning of “connected” persons and “control”

Final provisions

1177   

Minor and consequential amendments

1178   

Power to make consequential provision

1179   

Power to undo changes

1180   

Transitional provisions and savings

1181   

Repeals and revocations

1182   

Index of defined expressions

1183   

Extent

 
 

Corporation Tax Bill

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1184   

Commencement

1185   

Short title

Schedule 1   —   

Minor and consequential amendments

Part 1   —   

Income and Corporation Taxes Act 1988

Part 2   —   

Other enactments

Schedule 2   —   

Transitionals and savings etc

Part 1   —   

General provisions

Part 2   —   

Changes in the law

Part 3   —   

Currency

Part 4   —   

Loss relief (other than share loss relief)

Part 5   —   

Losses on disposal of shares

Part 6   —   

Group Relief

Part 7   —   

Charitable donations relief

Part 8   —   

CITR

Part 9   —   

Oil activities

Part 10   —   

Leasing plant or machinery

Part 11   —   

Close companies

Part 12   —   

Charitable companies etc

Part 13   —   

Real Estate Investment Trusts

Part 14   —   

Co-operative housing associations and self-build societies

Part 15   —   

Transactions in securities

Part 16   —   

Factoring of income etc

Part 17   —   

Manufactured payments and repos

Part 18   —   

Sale and lease-back etc

Part 19   —   

Tax avoidance involving leasing plant or machinery

Part 20   —   

Leasing arrangements: finance leases and loans

Part 21   —   

Transfers of trade without a change in ownership

Part 22   —   

Use of different accounting practices within a group

Part 23   —   

Company distributions

Part 24   —   

Corporation Tax Acts definitions etc

Schedule 3   —   

Repeals and revocations

Part 1   —   

General

Part 2   —   

Repeals and revocations having effect for corporation tax

purposes only

Schedule 4   —   

Index of defined expressions

 
 

 
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