Corporation Tax Act 2009
Sections and provisions with full text and the judgments that cite each one.
Section 931R — Election that distribution should not be exempt
Election that distribution should not be exempt 931R 1 This section applies where, apart from this section, a distribution (“the distribution”) would be exempt. 2 If the recipient so elects, the…
Section 931S — Meaning of “small company”
Meaning of “small company” 931S 1 For the purposes of this Part a company is a “small company” in an accounting period if it is in that period a micro or small enterprise, as defined in the Annex to…
Section 931T — Meaning of “payer”, “recipient” and “relevant person”
Meaning of “payer”, “recipient” and “relevant person” 931T In this Part— “ the payer ”, in relation to a distribution, means the company that makes the distribution; “ the recipient ”, in relation to…
Section 931U — Meaning of “ordinary share” and “redeemable”
Meaning of “ordinary share” and “redeemable” 931U 1 In this Part “ ordinary share ” means a share that does not carry any present or future preferential right to dividends or to a company's assets on…
Section 931V — Meaning of “scheme” and “tax advantage scheme”
Meaning of “scheme” and “tax advantage scheme” 931V “ For the purposes of this Part— “ scheme ” includes any scheme, arrangements or understanding of any kind whatever, whether or not legally…
Section 931W — Provisions which must be given priority over this Part
Provisions which must be given priority over this Part 931W 1 Any income so far as it falls within— a this Part, and b Chapter 2 of Part 3 (income taxed as trade profits), is dealt with under Part 3.…
Section 932 — Overview of Part
Overview of Part 932 1 This Part applies the charge to corporation tax on income to— a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . b beneficiaries' income from estates in…
Section 933 — Charge to tax on dividends of non-UK resident companies
Charge to tax on dividends of non-UK resident companies 933 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 934 — Charge to tax on estate income
Charge to tax on estate income 934 1 The charge to corporation tax on income applies to estate income. 1A But corporation tax is not charged on estate income so far as that income consists of a basic…
Section 935 — Absolute, limited and discretionary interests
Absolute, limited and discretionary interests 935 1 A person has an absolute interest in the whole or part of the residue of an estate for the purposes of this Chapter if— a the capital of the…
Section 936 — Meaning of “UK estate” and “foreign estate”
Meaning of “UK estate” and “foreign estate” 936 1 In this Chapter— “ UK estate ”, in relation to a tax year, means an estate which meets conditions A and B, or condition C, for that year, and “…
Section 937 — Absolute interests in residue
Absolute interests in residue 937 1 Income is treated as arising in an accounting period from a company's absolute interest in the whole or part of the residue of an estate if— a the company has an…
Section 938 — Meaning of “the administration period”, “the final accounting period” and “the final tax year”
Meaning of “the administration period”, “the final accounting period” and “the final tax year” 938 1 In this Chapter “ the administration period ”, in relation to the estate of a deceased person,…
Section 939 — Limited interests in residue
Limited interests in residue 939 1 Income is treated as arising in an accounting period from a company's limited interest in the whole or part of the residue of an estate in cases A, B and C. 2 Case…
Section 940 — Discretionary interests in residue
Discretionary interests in residue 940 1 Income is treated as arising in an accounting period from a company's discretionary interest in the whole or part of the residue of an estate if a payment is…
Section 941 — UK estates
UK estates 941 1 In the case of a UK estate, the charge to tax under section 934 is a charge on the amount of estate income treated as arising in the accounting period. 2 That amount is the basic…
Section 942 — Foreign estates
Foreign estates 942 1 In the case of a foreign estate, the charge to tax under section 934 is a charge on the amount of estate income treated as arising in the accounting period. 2 That amount…
Section 943 — Absolute interests
Absolute interests 943 1 The basic amount of estate income relating to a company's absolute interest in the whole or part of the residue of an estate for an accounting period before the final…
Section 944 — Limited interests
Limited interests 944 1 The basic amount of estate income relating to a company's limited interest in the whole or part of the residue of an estate for an accounting period is the total of the sums…
Section 945 — Discretionary interests
Discretionary interests 945 The basic amount of estate income relating to a company's discretionary interest in the whole or part of the residue of an estate for an accounting period is the total of…
Section 946 — Applicable rate for grossing up basic amounts of estate income
Applicable rate for grossing up basic amounts of estate income 946 1 The applicable rate by reference to which a basic amount of estate income is grossed up for the purposes of sections 941 and 942…
Section 947 — Aggregate income of the estate
Aggregate income of the estate 947 1 For the purposes of this Chapter the aggregate income of the estate for a tax year is the total of the income and amounts specified in subsection (2), but…
Section 948 — Assumed income entitlement
Assumed income entitlement 948 1 Whether a company has an assumed income entitlement for an accounting period in respect of an absolute interest in the whole or part of the residue of an estate…
Section 949 — Residuary income of the estate
Residuary income of the estate 949 1 For the purposes of this Chapter the residuary income of an estate for a tax year is the aggregate income of the estate for that year, less the allowable estate…
Section 950 — Shares of residuary income of estate
Shares of residuary income of estate 950 1 In the case of a company which has an absolute interest in the whole of the residue of an estate for a whole tax year, the company's share of the residuary…
Section 951 — Reduction in share of residuary income of estate
Reduction in share of residuary income of estate 951 1 This section applies if a company has an absolute interest in the whole or part of the residue of an estate at the end of the administration…
Section 952 — Applicable rate for determining assumed income entitlement (UK estates)
Applicable rate for determining assumed income entitlement (UK estates) 952 1 The applicable rate by reference to which income tax on a company's share of the residuary income of the estate is…
Section 953 — Introduction
Introduction 953 1 Sections 954 to 959 relate to cases where two or more interests in the whole or part of the residue of an estate are held successively during the administration period by different…
Section 954 — Successive absolute interests
Successive absolute interests 954 1 This section applies if two or more absolute interests in the whole or part of the residue of an estate are held successively during the administration period by…
Section 955 — Assumed income entitlement of holder of absolute interest following limited interest
Assumed income entitlement of holder of absolute interest following limited interest 955 1 This section applies if— a two or more interests in the whole or part of the residue of an estate are held…
Section 956 — Payments in respect of limited interests followed by absolute interests
Payments in respect of limited interests followed by absolute interests 956 1 This section applies if— a two or more interests in the whole or part of the residue of an estate are held successively…
Section 957 — Holders of limited interests
Holders of limited interests 957 1 This section applies if— a two or more interests in the whole or part of the residue of an estate are held successively during the administration period by…
Section 958 — Basic amount of estate income: successive limited interests
Basic amount of estate income: successive limited interests 958 The basic amount of estate income relating to a limited interest within section 957 for an accounting period is the total of the sums…
Section 959 — Apportionments
Apportionments 959 1 Such apportionments as are just and reasonable are to be made for the purposes of this Chapter if— a the part of a residuary estate in which an interest within any of the…
Section 960 — Relief in respect of tax relating to absolute interests
Relief in respect of tax relating to absolute interests 960 1 This section applies if— a United Kingdom corporation tax has been charged on a company for an accounting period on estate income treated…
Section 961 — Relief in respect of tax relating to limited or discretionary interests
Relief in respect of tax relating to limited or discretionary interests 961 1 This section applies if— a United Kingdom corporation tax has been charged on a company for an accounting period on…
Section 961A — Meaning of “the relevant tax year”
Meaning of “the relevant tax year” 961A In sections 960 and 961, “ the relevant tax year ” in relation to an amount of estate income, means the tax year in which the amount of estate income would be…
Section 962 — Income from which basic amounts are treated as paid
Income from which basic amounts are treated as paid 962 1 The part of the aggregate income of the estate from which a basic amount is treated as paid is determined by applying assumptions A and B in…
Section 962A — Income from which sums within section 951(1)(b) are treated as paid
Income from which sums within section 951(1)(b) are treated as paid 962A 1 The part of the aggregate income of the estate from which a sum within section 951(1)(b) is treated as paid is determined by…
Section 963 — Income treated as bearing income tax
Income treated as bearing income tax 963 1 This section has effect for the purposes of— section 946 (the applicable rate for grossing up basic amounts of estate income), section 952 (applicable rate…
Section 964 — Transfers of assets etc treated as payments
Transfers of assets etc treated as payments 964 1 For the purposes of this Chapter— a a transfer of assets, or b the appropriation of assets by personal representatives to themselves, is treated as…
Section 965 — Assessments, adjustments and claims after the administration period
Assessments, adjustments and claims after the administration period 965 1 This subsection applies if after the administration period ends it is apparent that a company is liable for corporation tax…
Section 966 — Power to obtain information from personal representatives and beneficiaries
Power to obtain information from personal representatives and beneficiaries 966 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 967 — Statements relating to estate income
Statements relating to estate income 967 1 If a company within subsection (2) requests it in writing, a personal representative of a deceased person must provide the company with a statement showing—…
Section 968 — Meaning of “personal representatives”
Meaning of “personal representatives” 968 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 969 — Charge to tax on income from holding an office
Charge to tax on income from holding an office 969 1 The charge to corporation tax on income applies to income from the holding of an office. 2 The amount of any income charged to tax under this…
Section 970 — Rule restricting deductions for bad debts
Rule restricting deductions for bad debts 970 1 This section applies only to debts to which Part 5 (loan relationships) does not apply. 2 In calculating the income of an office held by a company, no…
Section 971 — Overview of Chapter
Overview of Chapter 971 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 972 — Charge to tax under this Chapter
Charge to tax under this Chapter 972 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 973 — Amount of income treated as received
Amount of income treated as received 973 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .