Corporation Tax Act 2009
Sections and provisions with full text and the judgments that cite each one.
Section 749 — Assets held for purposes of mines, transport undertakings, etc
Assets held for purposes of mines, transport undertakings, etc 749 1 This section applies if credits or debits are to be brought into account in an accounting period in respect of an asset held by a…
Section 749A — Interest on tax overpaid
Interest on tax overpaid 749A No liability to income tax arises in respect of interest paid under section 826 of ICTA (interest on tax overpaid).
Section 750 — Assets held for purposes falling within more than one section
Assets held for purposes falling within more than one section 750 If an asset is held— a for purposes falling within more than one of sections 747 to 749, or b for purposes falling within one or more…
Section 751 — Non-trading gains and losses
Non-trading gains and losses 751 1 If there are non-trading credits or debits in an accounting period in respect of intangible fixed assets, the company's non-trading gain or loss on such assets in…
Section 752 — Charge to tax on non-trading gains on intangible fixed assets
Charge to tax on non-trading gains on intangible fixed assets 752 The charge to corporation tax on income applies to non-trading gains arising to a company on intangible fixed assets.
Section 753 — Treatment of non-trading losses
Treatment of non-trading losses 753 1 A company that has a non-trading loss on intangible fixed assets for an accounting period may claim to have the whole or part of the loss set off against the…
Section 754 — The relief: the “old asset” and “other assets”
The relief: the “old asset” and “other assets” 754 1 This Chapter provides for relief if a company realises an intangible fixed asset and incurs expenditure on other intangible fixed assets. 2 In…
Section 755 — Conditions relating to the old asset and its realisation
Conditions relating to the old asset and its realisation 755 1 The old asset must have been a chargeable intangible asset of the company throughout the period during which it was held by the company…
Section 756 — Conditions relating to expenditure on other assets
Conditions relating to expenditure on other assets 756 1 The expenditure on other assets must be incurred in the period— a beginning 12 months before the date of realisation of the old asset or at…
Section 757 — Claim for relief
Claim for relief 757 A claim by a company for relief under this Chapter must specify— a the old assets to which the claim relates, b the amount of the relief claimed in relation to each old asset,…
Section 758 — How the relief is given: general
How the relief is given: general 758 1 A company that is entitled to relief under this Chapter is treated for the purposes of this Part as if— a the proceeds of realisation of the old asset, and b…
Section 759 — Determination of appropriate proportion of cost and adjusted cost
Determination of appropriate proportion of cost and adjusted cost 759 1 In the case of a part realisation, any reference in section 755 or 758 to the appropriate proportion of the cost of the old…
Section 760 — References to cost of asset where asset affected by change of accounting policy
References to cost of asset where asset affected by change of accounting policy 760 1 In the case of an asset to which Chapter 15 has applied (adjustments on change of accounting policy) the…
Section 761 — Declaration of provisional entitlement to relief
Declaration of provisional entitlement to relief 761 1 A company realising an intangible fixed asset may make a declaration of provisional entitlement to relief under this Chapter. 2 While the…
Section 762 — Realisation and reacquisition
Realisation and reacquisition 762 If a company realises an asset and subsequently reacquires it, this Chapter applies as if what is reacquired were a different asset from that previously realised.
Section 763 — Disregard of deemed realisations and reacquisitions
Disregard of deemed realisations and reacquisitions 763 1 This Chapter does not apply in relation to a realisation of an asset that does not actually occur but is treated as occurring, except as…
Section 764 — Meaning of “company”, “group” and “subsidiary”
Meaning of “company”, “group” and “subsidiary” 764 1 This Chapter applies for the purposes of this Part to determine whether companies form a group and, where they do, which is the principal company…
Section 765 — General rule: a company and its 75% subsidiaries form a group
General rule: a company and its 75% subsidiaries form a group 765 1 The general rule is that— a a company (“A”) and all its 75% subsidiaries form a group, and b if any of those subsidiaries have 75%…
Section 766 — Only effective 51% subsidiaries of principal company to be members of group
Only effective 51% subsidiaries of principal company to be members of group 766 1 A group of companies does not include any company (other than the principal company of the group) that is not an…
Section 767 — Principal company cannot be 75% subsidiary of another company
Principal company cannot be 75% subsidiary of another company 767 1 The general rule is that a company (“A”) is not the principal company of a group if it is itself a 75% subsidiary of another…
Section 768 — Company cannot be member of more than one group
Company cannot be member of more than one group 768 1 A company cannot be a member of more than one group. 2 If, apart from subsection (1), a company (“A”) would be a member of 2 or more groups, the…
Section 769 — Continuity of identity of group
Continuity of identity of group 769 1 A group of companies remains the same group of companies for the purposes of this Part so long as the same company is the principal company of the group. 2 If…
Section 770 — Continuity where group includes an SE
Continuity where group includes an SE 770 1 This section applies if the principal company of a group (“Group 1”)— a becomes an SE as a result of being the acquiring company in the formation of an SE…
Section 771 — Meaning of “effective 51% subsidiary”
Meaning of “effective 51% subsidiary” 771 1 For the purposes of this Part a company (“the subsidiary”) is an effective 51% subsidiary of another company (“the parent”) if (and only if) conditions A…
Section 772 — Equity holders and profits or assets available for distribution
Equity holders and profits or assets available for distribution 772 1 Chapter 6 of Part 5 of CTA 2010 (group relief: equity holders and profits or assets available for distribution) applies for the…
Section 773 — Supplementary provisions
Supplementary provisions 773 1 In applying the definition of “75% subsidiary” in section 1154 of CTA 2010 for the purposes of this Chapter, any share capital of a registered society is treated as…
Section 774 — Overview of Chapter
Overview of Chapter 774 1 This Chapter makes provision about how this Part applies in the case of certain transactions involving groups. 2 In particular— a for the treatment of transfers within…
Section 775 — Transfers within a group
Transfers within a group 775 1 A transfer of an intangible fixed asset from one company (“ the transferor ”) to another company (“ the transferee ”) is tax-neutral for the purposes of this Part if— a…
Section 776 — Meaning of “tax-neutral” transfer
Meaning of “tax-neutral” transfer 776 1 This section sets out the consequences of a transfer of an asset being “ tax-neutral ” for the purposes of this Part. 2 The transfer is treated for those…
Section 777 — Relief on realisation and reinvestment: application to group member
Relief on realisation and reinvestment: application to group member 777 1 This section deals with the application of Chapter 7 (roll-over relief in case of realisation and reinvestment) in relation…
Section 778 — Relief on reinvestment: acquisition of group company: introduction
Relief on reinvestment: acquisition of group company: introduction 778 1 Chapter 7 (roll-over relief in case of realisation and reinvestment) applies in accordance with section 779 if— a a company…
Section 779 — Rules that apply to cases within section 778(1)
Rules that apply to cases within section 778(1) 779 1 The expenditure by A on the acquisition is treated as expenditure on acquiring the underlying assets. 2 The amount of the expenditure so treated…
Section 780 — Deemed realisation and reacquisition at market value
Deemed realisation and reacquisition at market value 780 1 This section applies if— a a company (“ the transferor ”) that is a member of a group (“ the group ”) transfers an intangible fixed asset…
Section 781 — Character of credits and debits brought into account as a result of section 780
Character of credits and debits brought into account as a result of section 780 781 1 For the purposes of Chapter 6 (how credits and debits are given effect) credits or debits brought into account as…
Section 782 — Certain transferees of businesses etc not treated as leaving group
Certain transferees of businesses etc not treated as leaving group 782 1 This section applies if— a the relevant asset is transferred in the course of a transfer of business to which section 820…
Section 782A — Company leaving group because of relevant share disposal
Company leaving group because of relevant share disposal 782A 1 Section 780 does not apply if a company ceases to be a member of a group because of a relevant disposal of shares by another company. 2…
Section 783 — Certain associated companies leaving group at the same time
Certain associated companies leaving group at the same time 783 1 Where two companies cease to be members of a group at the same time, section 780 does not apply in relation to a transfer by one of…
Section 784 — Groups with a relevant connection
Groups with a relevant connection 784 1 For the purposes of section 783(2) there is a relevant connection between the first group and the second group if, at the time when the transferee ceases to be…
Section 785 — Principal company becoming member of another group
Principal company becoming member of another group 785 1 Section 780 does not apply if a company ceases to be a member of a group just because the principal company of the group becomes a member of…
Section 786 — Character of credits and debits brought into account as a result of section 785
Character of credits and debits brought into account as a result of section 785 786 1 For the purposes of Chapter 6 (how credits and debits are given effect) credits or debits brought into account…
Section 787 — Company ceasing to be member of group because of exempt distribution
Company ceasing to be member of group because of exempt distribution 787 1 Sections 780 and 785 do not apply if a company ceases to be a member of a group just because of an exempt distribution,…
Section 788 — Provisions supplementing sections 780 to 787
Provisions supplementing sections 780 to 787 788 1 References in sections 780 to 787 (degrouping) to a company ceasing to be a member of a group do not include cases where a company ceases to be a…
Section 789 — Merger carried out for genuine commercial reasons
Merger carried out for genuine commercial reasons 789 1 Sections 780 to 787 do not apply if— a the transferee ceases to be a member of a group of companies (“ the group ”) as part of a merger, b the…
Section 790 — Provisions supplementing section 789
Provisions supplementing section 789 790 1 In section 789 “ arrangement ” includes a series of arrangements. 2 For the purposes of section 789(3) and (4) a member of a group of companies is treated…
Section 791 — Application of roll-over relief in relation to degrouping charge
Application of roll-over relief in relation to degrouping charge 791 1 Chapter 7 (roll-over relief in case of realisation and reinvestment) applies with the modifications specified in subsections (2)…
Section 792 — Reallocation of charge within group
Reallocation of charge within group 792 1 This section applies if a chargeable realisation gain (see section 741) accrues to a company (“A”) under section 780 or 785 in respect of an asset. 2 A and a…
Section 793 — Further requirements about elections under section 792
Further requirements about elections under section 792 793 1 An election under section 792 may be made only if subsection (2) , (3), (3A) or (3B) applies to B. 2 This subsection applies if at the…
Section 793A — Effect of election under section 792
Effect of election under section 792 793A 1 This section applies if an election is made under section 792. 2 If subsection (2) of section 793 applies to B the gain, or the part specified in the…
Section 794 — Application of roll-over relief in relation to reallocated charge
Application of roll-over relief in relation to reallocated charge 794 1 This section applies where an election has been made under section 792 for the purpose of enabling B to make a claim under…
Section 795 — Recovery of charge from another group company or controlling director
Recovery of charge from another group company or controlling director 795 1 This section applies if— a a company (“A”) is liable to a degrouping charge, b an amount of corporation tax has been…