Section 1072 — Corporation Tax Act 2010: Members of a 90% group

Members of a 90% group 1072 1 In the Corporation Tax Acts “ distribution ”, in relation to a company which is a member of a 90% group, includes anything distributed out of assets of the company (whether in cash or otherwise) in respect of shares in or securities of another company in the group.

2 Subsection (1) is without prejudice to paragraph B in section 1000(1) (distributions, other than dividends, in respect of shares) as extended by section 1113(1).

3 Nothing in subsection (1) requires a company to be treated as making a distribution to any other company which is in the same group and is UK resident.

4 In this section “ 90% group ” means a company and all its 90% subsidiaries.