Section 931B — Corporation Tax Act 2009: Exemption from charge to tax

Exemption from charge to tax 931B A dividend or other distribution of a company that is received in an accounting period of the recipient in which the recipient is a small company is exempt if—

a the payer is a resident of (and only of) the United Kingdom or a qualifying territory at the time that the distribution is received, b the distribution is not of a kind mentioned in paragraph E or F in section 1000(1) of CTA 2010 (certain non-dividend distributions),

c no deduction is allowed to a resident of any territory outside the United Kingdom under the law of that territory in respect of the distribution, and d the distribution is not made as part of a tax advantage scheme.