Section 713 — Income Tax Act 2007: Interpretation of Chapter

Interpretation of Chapter 713 1 In this Chapter— “ associate ” is to be construed in accordance with section 681DL, but as if subsection (4) of that section also included, as persons associated with each other, a person as trustee of a settlement and an individual, where one or more beneficiaries of the settlement are connected or associated with the individual; “ close company ” includes a company that would be a close company if it were resident in the United Kingdom, “ company ” includes any body corporate, “ dividends ” includes references to other ... distributions and to interest, “securities”— includes shares and stock, and in relation to a company not limited by shares (whether or not it has a share capital) also includes a reference to the interest of a member of the company as such, whatever the form of that interest, “ trading stock ” has the meaning given by section 174 of ITTOIA 2005, and ...

2 In the definition of “dividends” given by subsection (1), “ other distributions ” does not include a distribution which is a distribution for the purposes of the Corporation Tax Acts only because it falls within paragraph C or D in section 1000(1) (redeemable share capital or security issued as bonus in respect of shares in, or securities of, the company).