Corporation Tax Act 2009
Sections and provisions with full text and the judgments that cite each one.
Section 1218ZCF — Amount of additional deduction
Amount of additional deduction 1218ZCF 1 The amount of an additional deduction to which a company is entitled as a result of a claim under section 1218ZCE is calculated as follows. 2 For the first…
Section 1218ZF — Regulations about activities in relation to an exhibition
Regulations about activities in relation to an exhibition 1218ZF The Treasury may by regulations amend section 1218ZBC (costs of the production) or 1218ZCD (“core expenditure”) for the purpose of…
Section 1218ZCG — “Qualifying expenditure”
“Qualifying expenditure” 1218ZCG 1 In this Chapter “qualifying expenditure”, in relation to the production of an exhibition, means core expenditure (see section 1218ZCD) on the production that— a…
Section 1218ZCH — Museums and galleries exhibition tax credit claimable if company has surrenderable loss
Museums and galleries exhibition tax credit claimable if company has surrenderable loss 1218ZCH 1 A company which qualifies for museums and galleries exhibition tax relief in relation to the…
Section 1218ZCI — Amount of surrenderable loss
Amount of surrenderable loss 1218ZCI 1 The company’s surrenderable loss in the accounting period is— a the company’s available loss for the period in the separate exhibition trade (see subsections…
Section 1218ZCJ — Payment in respect of museums and galleries exhibition tax credit
Payment in respect of museums and galleries exhibition tax credit 1218ZCJ 1 If a company— a is entitled to a museums and galleries exhibition tax credit for an accounting period, and b makes a claim,…
Section 1218ZCK — Maximum museums and galleries exhibition tax credits payable
Maximum museums and galleries exhibition tax credits payable 1218ZCK 1 Subsections (2) and (3) prescribe the maximum amount of museums and galleries exhibition tax credits which may be paid to a…
Section 1218ZCL — No account to be taken of amount if unpaid
No account to be taken of amount if unpaid 1218ZCL 1 In determining for the purposes of this Chapter the amount of costs incurred on a production of an exhibition at the end of a period of account,…
Section 1218ZCM — Tax avoidance arrangements
Tax avoidance arrangements 1218ZCM 1 A company does not qualify for museums and galleries exhibition tax relief in relation to the production of an exhibition if there are any tax avoidance…
Section 1218ZCN — Transactions not entered into for genuine commercial reasons
Transactions not entered into for genuine commercial reasons 1218ZCN 1 A transaction is to be ignored for the purpose of determining museums and galleries exhibition tax relief so far as the…
Section 1219 — Expenses of management of a company's investment business
Expenses of management of a company's investment business 1219 1 In calculating the corporation tax to which a company with investment business is liable for an accounting period, expenses of…
Section 1220 — Meaning of “unallowable purpose”
Meaning of “unallowable purpose” 1220 1 For the purposes of section 1219, investments are held for an unallowable purpose during an accounting period so far as they are held during the period— a for…
Section 1221 — Amounts treated as expenses of management
Amounts treated as expenses of management 1221 1 Section 1219(3)(a) (no deduction allowed for expenses of a capital nature) does not apply to amounts that are treated as expenses of management under—…
Section 1222 — Income from a source not charged to tax
Income from a source not charged to tax 1222 1 This section applies to a UK resident company if— a income arises to the company from a source not charged to tax, b the company has the source in the…
Section 1223 — Carrying forward expenses of management and other amounts
Carrying forward expenses of management and other amounts 1223 1 This section applies if, in an accounting period of a company with investment business, any amount falling within subsection (2)…
Section 1223A — Exception for basic life assurance and general annuity business
Exception for basic life assurance and general annuity business 1223A 1 Sections 1219 to 1223 do not apply in relation to an accounting period of an insurance company with investment business so far…
Section 1224 — Accounting period to which expenses are referable
Accounting period to which expenses are referable 1224 1 Sections 1225 to 1227A explain which is the accounting period to which expenses of management are referable. 2 But those sections do not…
Section 1225 — Accounts conforming with GAAP
Accounts conforming with GAAP 1225 1 If— a expenses of management are debited in accounts drawn up by a company for a period of account, b the treatment of those expenses in those accounts is in…
Section 1226 — Accounts not conforming with GAAP
Accounts not conforming with GAAP 1226 1 Subsection (2) applies if— a a company incurs expenses of management, and b the company draws up accounts for a particular period of account, and c the…
Section 1227 — Accounts not drawn up
Accounts not drawn up 1227 1 If— a a company does not draw up accounts, or does not draw them up for a particular period, and b as a result, expenses of management are not referable to an accounting…
Section 1227A — Management expenses in relation to salaried members of limited liability partnerships
Management expenses in relation to salaried members of limited liability partnerships 1227A 1 This section applies in relation to a company if— a as a member of a limited liability partnership, the…
Section 1228 — Credits that reverse debits
Credits that reverse debits 1228 For the purposes of sections 1229 and 1230, a credit reverses the whole or part of a debit in any case where the credit falls to be made because— a the sum…
Section 1229 — Claw back of relief
Claw back of relief 1229 1 This section applies if— a a credit is brought into account by a company in a period of account (“the period of the credit”), b the credit reverses (in whole or in part) a…
Section 1230 — Meaning of “reversal amount”
Meaning of “reversal amount” 1230 1 This section gives the meaning of “ reversal amount ” for the purposes of this Part. 2 If a credit reverses the whole or part of a debit, the reversal amount is…
Section 1231 — Absence of accounts
Absence of accounts 1231 1 This section sets out how section 1229 operates if a company has an accounting period that neither coincides with nor falls within any period of account. 2 Section 1229…
Section 1232 — Chapter applies to amounts not otherwise relieved
Chapter applies to amounts not otherwise relieved 1232 The following provisions of this Chapter treat amounts as expenses of management only so far as the amounts— a would not otherwise be treated as…
Section 1233 — Excess capital allowances
Excess capital allowances 1233 1 This section applies if a company with investment business is entitled to allowances by virtue of section 15(1)(g) or 270CA(f) of CAA 2001 (qualifying activities…
Section 1234 — Payments for restrictive undertakings
Payments for restrictive undertakings 1234 1 This section applies if a payment— a is treated as earnings of an employee by virtue of section 225 of ITEPA 2003 (payments for restrictive undertakings),…
Section 1235 — Employees seconded to charities and educational establishments
Employees seconded to charities and educational establishments 1235 1 This section applies if a company carrying on a business that consists wholly or partly of making investments (“ the employer ”)…
Section 1236 — Payroll deduction schemes
Payroll deduction schemes 1236 1 This section applies if— a a company with investment business (“ the employer ”) is liable to make payments to an individual, b income tax falls to be deducted from…
Section 1237 — Counselling and other outplacement services
Counselling and other outplacement services 1237 1 This section applies if— a a company with investment business (“ the employer ”) incurs counselling expenses, b the expenses are incurred in…
Section 1238 — Retraining courses
Retraining courses 1238 1 This section applies if— a a company with investment business (“ the employer ”) incurs retraining course expenses, b they are incurred in relation to a person (“ the…
Section 1239 — Redundancy payments and approved contractual payments
Redundancy payments and approved contractual payments 1239 1 Sections 1240 to 1242 apply if— a a company with investment business (“ the employer ”) makes a redundancy payment or an approved…
Section 1240 — Payments in respect of employment wholly in employer's business
Payments in respect of employment wholly in employer's business 1240 1 This section applies if the payment is in respect of the employee's employment wholly in the employer's investment business. 2…
Section 1241 — Payments in respect of employment in more than one capacity
Payments in respect of employment in more than one capacity 1241 1 This section applies if the payment is in respect of the employee's employment with the employer— a partly in the employer's…
Section 1242 — Additional payments
Additional payments 1242 1 This section applies if the employer's business, or part of it, ceases (permanently) to be carried on and the employer makes a payment to the employee in addition to— a the…
Section 1243 — Payments made by the Government
Payments made by the Government 1243 1 This section applies if— a a redundancy payment or an approved contractual payment is payable by a company with investment business (“ the employer ”), b a…
Section 1244 — Contributions to local enterprise organisations or urban regeneration companies
Contributions to local enterprise organisations or urban regeneration companies 1244 1 This section applies if a company with investment business (“ the contributor ”) incurs expenses in making a…
Section 1244A — Contributions to flood and coastal erosion risk management projects
Contributions to flood and coastal erosion risk management projects 1244A 1 This section applies if a company with investment business (“ the contributor ”) incurs expenses in making a qualifying…
Section 1245 — Payments to Export Credits Guarantee Department
Payments to Export Credits Guarantee Department 1245 1 This section applies if— a a sum is payable by a company with investment business to the Export Credits Guarantee Department, and b the sum is…
Section 1246 — Levies under FISMA 2000
Levies under FISMA 2000 1246 1 Sums— a spent by a company with investment business in paying a levy, or b paid by a company with investment business as a result of an award of costs under costs…
Section 1247 — Introduction
Introduction 1247 1 This Chapter contains provisions that restrict the deduction of expenses of management under section 1219. 2 Other provisions that prohibit or restrict the deduction of expenses…
Section 1248 — Expenses in connection with arrangements for securing a tax advantage
Expenses in connection with arrangements for securing a tax advantage 1248 1 No deduction is allowed under section 1219 for any particular expenses of management if any part of those expenses is…
Section 1249 — Unpaid remuneration
Unpaid remuneration 1249 1 This section applies if— a an amount is charged in respect of employees' remuneration in the accounts for a period of a company with investment business, b the amount would…
Section 1250 — Unpaid remuneration: supplementary
Unpaid remuneration: supplementary 1250 1 For the purposes of section 1249 an amount charged in the accounts in respect of employees' remuneration includes an amount for which provision is made in…
Section 1251 — Car ... hire
Car ... hire 1251 1 Subsection (2) applies if, in calculating the total profits of a company with investment business, a deduction is allowed under section 1219 for expenses incurred on the hiring of…
Section 1252 — Industrial development grants
Industrial development grants 1252 1 If a company with investment business receives a payment by way of a grant under— a section 7 or 8 of the Industrial Development Act 1982 (c. 52), or b Article 7,…
Section 1253 — Contributions to local enterprise organisations or urban regeneration companies: disqualifying benefits
Contributions to local enterprise organisations or urban regeneration companies: disqualifying benefits 1253 1 This section applies if— a a deduction has been made under section 1219 by virtue of…
Section 1253A — Contributions to flood and coastal erosion risk management projects: refunds etc
Contributions to flood and coastal erosion risk management projects: refunds etc 1253A 1 This section applies if— a a deduction has been made under section 1219 by virtue of section 1244A…
Section 1254 — Repayments under FISMA 2000
Repayments under FISMA 2000 1254 1 If as a result of a repayment provision a payment— a is made to a company with an investment business, and b is not brought into account as a receipt of a trade…