Section 997 — Corporation Tax Act 2010: Overview of Part

Overview of Part 997 1 Chapters 2 to 5 contain provision about what is, and what is not, a distribution.

2 Chapter 5 (demergers) includes provision that charges income tax, or applies the charge to corporation tax on income, in relation to certain payments.

3 Chapters 2 to 5 also include—

a provision about the persons to whom certain distributions are treated as made (see sections 1020(2) and 1064(2)),

b provision about how the amount of certain distributions is determined (see sections 1003, 1004, 1020(2) and 1064(2)),

c other special rules about distributions made by certain companies (see Chapter 4),

and d provision about returns and information (see sections 1046, 1052, 1053 and 1095 to 1097).

4 Chapter 6 contains provision of more general application about returns and information relating to distributions. 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

6 Chapter 8 contains definitions and other provision about the interpretation of this Part.

7 Section 152(3)(b) of FA 1995 enables regulations under that section to include provision which modifies the following in relation to open-ended investment companies, or payments falling to be treated as the distributions of such companies—

a Chapter 2 (except section 1000(2)),

b sections 1030 to 1048 and section 1049(1) and (3),

c sections 1059 to 1063, d Chapter 5.