Corporation Tax Act 2009
Sections and provisions with full text and the judgments that cite each one.
Section 1021 — How the relief is given
How the relief is given 1021 1 The relief is given for the accounting period in which the shares are acquired. 2 The amount of relief is allowed as a deduction in calculating the profits of the…
Section 1022 — Takeover of company whose shares are subject to option
Takeover of company whose shares are subject to option 1022 1 This section applies if— a a person (“P”) obtains a qualifying option to acquire shares in a company, b subsequently there is a takeover…
Section 1023 — Supplementary provision for purposes of section 1022
Supplementary provision for purposes of section 1022 1023 1 This section applies for the purposes of section 1022. 2 An option is a qualifying option if condition 3 in section 1016 would be met in…
Section 1024 — Transfer of qualifying business by group transfers
Transfer of qualifying business by group transfers 1024 1 This section applies in relation to relief to be given under this Chapter if— a during the option period, the whole, or substantially the…
Section 1025 — Additional relief available if shares acquired are restricted shares
Additional relief available if shares acquired are restricted shares 1025 1 This Chapter applies if— a relief (“the original relief”) is available under Chapter 2 or 3 in relation to an acquisition…
Section 1025A — Application of Chapter: employees of overseas companies who take up employment with, or work for, a UK company
Application of Chapter: employees of overseas companies who take up employment with, or work for, a UK company 1025A 1 This section applies if— a a person (“E”) has, or had, an employment (“the…
Section 1025B — Application of Chapter where original relief a consequence of section 1007A, 1015A or 1015B
Application of Chapter where original relief a consequence of section 1007A, 1015A or 1015B 1025B 1 This section applies if the original relief is available under— a Chapter 2 as a consequence of…
Section 1026 — Relief available on occurrence of chargeable event
Relief available on occurrence of chargeable event 1026 1 This section applies in relation to relief available as a result of the occurrence of a chargeable event. 2 The relief is given for the…
Section 1027 — Relief available on death of employee
Relief available on death of employee 1027 1 This section applies in relation to relief available as a result of the employee's death. 2 The relief is given for the accounting period in which the…
Section 1028 — Supplementary provision for purposes of sections 1026 and 1027
Supplementary provision for purposes of sections 1026 and 1027 1028 1 If section 1012 or 1020 (reduction in amount of relief) applies in relation to the original relief, that section applies in…
Section 1029 — Transfer of qualifying business by group transfers
Transfer of qualifying business by group transfers 1029 1 This section applies in relation to relief to be given under this Chapter if— a during the interim period (see subsections (5) to (7)), the…
Section 1030 — Application of Chapter
Application of Chapter 1030 1 This Chapter applies if relief under Chapter 2 or 3 is available in relation to an acquisition of convertible shares. 2 This Chapter also applies if— a there is an…
Section 1030A — Application of Chapter: employees of overseas companies who take up employment with, or work for, a UK company
Application of Chapter: employees of overseas companies who take up employment with, or work for, a UK company 1030A 1 This section applies if— a a person (“E”) has, or had, an employment (“the…
Section 1030B — Application of Chapter where original relief a consequence of section 1007A, 1015A or 1015B
Application of Chapter where original relief a consequence of section 1007A, 1015A or 1015B 1030B 1 This section applies if the original relief is, or would have been, available under— a Chapter 2 as…
Section 1031 — Additional relief available if shares acquired are convertible shares etc
Additional relief available if shares acquired are convertible shares etc 1031 1 Relief under this Chapter is available to the employing company if, after the acquisition of the acquired securities,…
Section 1032 — Meaning of “chargeable event”
Meaning of “chargeable event” 1032 1 In this Chapter “ chargeable event ” means an event that— a is a chargeable event for the purposes of section 438 of ITEPA 2003, b is within section 439(3)(a) of…
Section 1033 — Relief available on occurrence of chargeable event
Relief available on occurrence of chargeable event 1033 1 This section applies in relation to relief available as a result of the occurrence of a chargeable event. 2 The relief is given for the…
Section 1034 — Relief available following death of employee
Relief available following death of employee 1034 1 This section applies in relation to relief available as a result of the employee's death. 2 The relief is given for the accounting period in which…
Section 1035 — Supplementary provision for purposes of sections 1033 and 1034
Supplementary provision for purposes of sections 1033 and 1034 1035 1 If section 1012 or 1020 (reduction in amount of relief) applies or would have applied in relation to the original relief, that…
Section 1036 — Transfer of qualifying business by group transfers
Transfer of qualifying business by group transfers 1036 1 This section applies in relation to relief to be given under this Chapter if— a during the interim period (see subsections (5) to (7)), the…
Section 1037 — Priority of Chapter 1 of Part 11
Priority of Chapter 1 of Part 11 1037 1 Deductions available under Chapter 1 of Part 11 (relief for particular employee share acquisition schemes: share incentive plans) are to be given priority over…
Section 1038 — Exclusion of other deductions
Exclusion of other deductions 1038 1 Subsection (2) applies if relief is or, apart from condition 2 in section 1009(1), would be available under this Part. For this purpose, it does not matter if the…
Section 1038A — Exclusion of deductions for share options: shares not acquired
Exclusion of deductions for share options: shares not acquired 1038A 1 Subsection (2) applies if— a a person obtains an option to acquire shares and the requirements of section 1015(1)(a) to (c) are…
Section 1038B — Employee shareholder shares
Employee shareholder shares 1038B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1039 — Overview of Part
Overview of Part 1039 1 This Part provides relief for companies that invest in research and development. 2 Chapter 1A makes relief available in the form of a credit in respect of expenditure on…
Section 1040 — No overlapping claims under Chapters 1A and 2
No overlapping claims under Chapters 1A and 2 1040 A company is not entitled to relief under Chapter 2 in respect of expenditure if it is entitled to, and claims, relief under Chapter 1A in respect…
Section 1040A — R&D expenditure credits
R&D expenditure credits 1040A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 1040ZA — Restriction on claiming other tax reliefs
Restriction on claiming other tax reliefs 1040ZA A1 For provision prohibiting audiovisual expenditure credit or video game expenditure credit being given where relief is available under this Part,…
Section 1041 — “Research and development”
“Research and development” 1041 In this Part “ research and development ” has the meaning given by section 1138 of CTA 2010 .
Section 1042 — “Relevant research and development”
“Relevant research and development” 1042 1 In this Part “ relevant research and development ”, in relation to a company, means research and development— a related to a trade carried on by the…
Section 1042A — Overview of Chapter
Overview of Chapter 1042A 1 This Chapter provides an entitlement to a credit (called an “R&D expenditure credit”) in respect of certain expenditure on research and development. 2 Section 1042B and…
Section 1042B — Entitlement to credit
Entitlement to credit 1042B 1 A company is entitled to an R&D expenditure credit for an accounting period if it meets conditions A, B and C in this section. 2 Condition A is that the company carries…
Section 1042C — Claiming the credit
Claiming the credit 1042C 1 To obtain an R&D expenditure credit the company must make a claim (see Part 9A of Schedule 18 to the FA 1998). 2 A company may not make the claim (“the RDEC claim”) after…
Section 1042D — Qualifying expenditure: in-house R&D
Qualifying expenditure: in-house R&D 1042D 1 Expenditure of a company is qualifying Chapter 1A expenditure if it meets each of conditions A to D in this section. 2 Condition A is that the expenditure…
Section 1042E — Qualifying expenditure: payments for contracted out R&D
Qualifying expenditure: payments for contracted out R&D 1042E 1 Expenditure of a company is qualifying Chapter 1A expenditure if it meets each of conditions A to D in this section. 2 Condition A is…
Section 1042F — Qualifying expenditure: activity as contractor for irrelievable client
Qualifying expenditure: activity as contractor for irrelievable client 1042F 1 Expenditure of a company is qualifying Chapter 1A expenditure if it meets conditions A, B and C in this section. 2…
Section 1042G — Percentage of qualifying expenditure translated into credit
Percentage of qualifying expenditure translated into credit 1042G 1 The relevant percentage for the purposes of section 1042B (5) is— a 49%, in the case of a ring fence trade within the meaning given…
Section 1042H — Expenditure credit to count as taxable receipt
Expenditure credit to count as taxable receipt 1042H If a company is entitled to, and claims, an R&D expenditure credit for an accounting period, it must bring the amount of the credit into account…
Section 1042I — Redemption of value of expenditure credit
Redemption of value of expenditure credit 1042I If a company is entitled to, and claims, an R&D expenditure credit for an accounting period, the credit is to be dealt with as follows. Step 1 The…
Section 1042J — Treatment of deduction to comply with PAYE and NIC limit
Treatment of deduction to comply with PAYE and NIC limit 1042J 1 This section applies if an amount is deducted under step 3 in section 1042I . 2 The amount is to be added to the amount of R&D…
Section 1042K — Amount of notional tax deduction
Amount of notional tax deduction 1042K 1 This section determines the amount of the notional tax deduction for the purposes of step 2 in section 1042I . 2 The amount of the deduction is the amount (if…
Section 1042L — Treatment of notional tax deduction
Treatment of notional tax deduction 1042L 1 This section applies if an amount is deducted under step 2 in section 1042I . 2 If the company is a member of a group, it may, in respect of the accounting…
Section 1042M — Priority of discharge
Priority of discharge 1042M 1 An amount within subsection (2) is to be applied as described in that subsection before any amount within subsection (3) is applied as described in that subsection. 2 An…
Section 1042N — Amounts surrendered to other group companies
Amounts surrendered to other group companies 1042N 1 Subsection (3) applies if an amount of expenditure credit is surrendered by the qualifying company to another member of its group under step 5 in…
Section 1042O — Adaptation of entitlement for certain insurance businesses
Adaptation of entitlement for certain insurance businesses 1042O 1 This section applies if— a for an accounting period, an insurance company is charged to tax in respect of its basic life assurance…
Section 1043 — Overview of Chapter
Overview of Chapter 1043 1 This Chapter provides relief for companies that are small or medium-sized enterprises, invest heavily in research and development, and do not make associated trading…
Section 1044 — Additional deduction in calculating profits of trade
Additional deduction in calculating profits of trade 1044 1 A company is entitled to corporation tax relief for an accounting period if it meets each of conditions A to F . 2 Condition A is that the…
Section 1045 — Alternative treatment for pre-trading expenditure: deemed trading loss
Alternative treatment for pre-trading expenditure: deemed trading loss 1045 1 A company is entitled to corporation tax relief for an accounting period if it meets each of conditions A to D . 2…
Section 1045A — Requirement to make a claim notification
Requirement to make a claim notification 1045A 1 A company may not make a claim under section 1044(6) (an “additional deduction claim”) after the end of the claim notification period unless— a the…
Section 1045ZA — R&D intensity condition
R&D intensity condition 1045ZA 1 This section determines whether a company meets the R&D intensity condition in an accounting period for the purposes of sections 1044 and 1045. 2 If the company is…