Corporation Tax Act 2009
Sections and provisions with full text and the judgments that cite each one.
Section 149E — Costs of the building
Costs of the building 149E 1 For the purposes of sections 149B to 149D, the costs of a building are to be determined in accordance with this section. 2 If the building was acquired for the purposes…
Section 150 — Revenue nature of expenditure
Revenue nature of expenditure 150 1 If a company carrying on a trade incurs expenditure on the production or acquisition of the original master version of a sound recording, the expenditure is…
Section 151 — Allocation of expenditure
Allocation of expenditure 151 1 This section applies in calculating for corporation tax purposes the profits or losses of a company from a trade if— a the trade consists of or includes the…
Section 151E — Exchange gains and losses from loan relationships: regulations
Exchange gains and losses from loan relationships: regulations 151E 1 The Treasury may by regulations make provision for or in connection with bringing into account in prescribed circumstances for…
Section 151F — Treatment of alternative finance arrangements
Treatment of alternative finance arrangements 151F 1 This section applies if under arrangements to which section 503 (purchase and resale arrangements), 504 (diminishing shared ownership…
Section 151G — Regulations where non-qualifying shares conditions altered
Regulations where non-qualifying shares conditions altered 151G 1 If the Treasury make regulations under section 533 of CTA 2009 (power to change conditions for non-qualifying shares) adding, varying…
Section 152 — Interpretation of sections 150 and 151
Interpretation of sections 150 and 151 152 1 For the purposes of sections 150 and 151— a “ sound recording ” does not include a film soundtrack, b “ original master version ” means the master tape or…
Section 153 — Reserves of marketing authorities and certain other statutory bodies
Reserves of marketing authorities and certain other statutory bodies 153 1 This section applies to a statutory body if its object (or one of its objects) is— a marketing an agricultural product, or b…
Section 154 — Conditions to be met by reserve fund
Conditions to be met by reserve fund 154 1 These are the conditions to be met by the reserve fund (see section 153(2)). 2 The first condition is that no sum may be withdrawn from the fund without the…
Section 155 — Interpretation of sections 153 and 154
Interpretation of sections 153 and 154 155 1 In sections 153 and 154 “ Minister ” means— a a Minister of the Crown, b the Scottish Ministers, c the Welsh Ministers, or d a Minister within the meaning…
Section 156 — Meaning of “trading stock”
Meaning of “trading stock” 156 1 In this Chapter “ trading stock ”, in relation to a trade, means anything (whether land or other property)— a which is sold in the ordinary course of the trade, or b…
Section 156ZA — Intangible fixed assets: roll-over relief
Intangible fixed assets: roll-over relief 156ZA 1 This section applies if a company is entitled to relief under Chapter 7 of Part 8 of CTA 2009 (roll-over relief in case of realisation and…
Section 156ZB — Intangible fixed assets: interaction with relief under Chapter 7 of Part 8 of CTA 2009
Intangible fixed assets: interaction with relief under Chapter 7 of Part 8 of CTA 2009 156ZB 1 This section applies if there is a disposal on or after 1 April 2002 of an asset that is both— a an…
Section 157 — Trading stock appropriated by trader
Trading stock appropriated by trader 157 1 This section applies if trading stock of a company's trade is appropriated by the company for any other purpose. 2 In calculating the profits of the trade—…
Section 158 — Trading stock supplied by trader
Trading stock supplied by trader 158 1 This section applies if something that— a belongs to a company carrying on a trade, but b is not trading stock of the trade, becomes trading stock of the trade.…
Section 159 — Disposals not made in the course of trade
Disposals not made in the course of trade 159 1 This section applies if— a trading stock of a trade is disposed of otherwise than in the course of the trade, and b section 157 does not apply. 2 In…
Section 160 — Acquisitions not made in the course of trade
Acquisitions not made in the course of trade 160 1 This section applies if— a trading stock of a trade has been acquired otherwise than in the course of the trade, and b section 158 does not apply. 2…
Section 161 — Transfer pricing rules to take precedence
Transfer pricing rules to take precedence 161 1 Section 159 or 160 does not apply if the relevant consideration— a falls to be adjusted for tax purposes under Part 4 of TIOPA 2010 , or b falls within…
Section 162 — Valuation of trading stock on cessation
Valuation of trading stock on cessation 162 1 If a company permanently ceases to carry on a trade, in calculating the profits of the trade— a trading stock belonging to the trade at the time of the…
Section 163 — Meaning of “trading stock”
Meaning of “trading stock” 163 1 In this Chapter “ trading stock ” means— a any property (whether land or other property) which is sold in the ordinary course of the trade or would be so sold if it…
Section 164 — Basis of valuation of trading stock
Basis of valuation of trading stock 164 1 The value of trading stock belonging to the trade at the time of the cessation is determined as follows. 2 If the stock is sold to a person who— a carries…
Section 165 — Sale basis of valuation: sale to unconnected person
Sale basis of valuation: sale to unconnected person 165 1 The value of trading stock is determined in accordance with this section if— a it is sold to a person who carries on, or intends to carry on,…
Section 166 — Sale basis of valuation: sale to connected person
Sale basis of valuation: sale to connected person 166 1 The value of trading stock is determined in accordance with this section if— a it is sold to a person who carries on, or intends to carry on, a…
Section 167 — Sale basis of valuation: election by connected persons
Sale basis of valuation: election by connected persons 167 1 The value of trading stock is determined in accordance with this section if— a it is sold to a person who carries on, or intends to carry…
Section 168 — Connected persons
Connected persons 168 For the purposes of sections 164 to 167 two persons are connected with each other if any of the following tests is met— a they are connected with each other within the meaning…
Section 169 — Cost to buyer of stock valued on sale basis of valuation
Cost to buyer of stock valued on sale basis of valuation 169 1 This section applies for the purpose of calculating the profits of the trade carried on by the buyer of trading stock. 2 If the value of…
Section 170 — Meaning of “sale” and related expressions
Meaning of “sale” and related expressions 170 1 In sections 164 to 167 (except in section 167(5)) references to a sale include a transfer for valuable consideration. 2 In relation to a transfer which…
Section 171 — Determination of questions
Determination of questions 171 Any question arising under section 164(3) or sections 165 to 167 (sale basis of valuation of trading stock) must be determined in the same way as an appeal.
Section 172 — Application of Chapter
Application of Chapter 172 1 This Chapter applies if— a an amount received by, or owed to, a company carrying on a trade (“the trader”) is brought into account as a receipt in calculating the profits…
Section 173 — Relief for unremittable amounts
Relief for unremittable amounts 173 1 If— a the trader has profits from the trade in a period of account, and b an unremittable amount has been brought into account as a receipt for that period, a…
Section 174 — Restrictions on relief
Restrictions on relief 174 1 No deduction is allowed under section 173 in relation to an amount so far as— a it is used to finance expenditure or investment outside the United Kingdom, or b it is…
Section 175 — Withdrawal of relief
Withdrawal of relief 175 1 This section applies if— a some or all of an unremittable amount has been deducted from profits under section 173, and b any of the following events occurs. 2 The events…
Section 176 — Meaning of “know-how” etc
Meaning of “know-how” etc 176 1 In this Chapter “ know-how ” means any industrial information or techniques likely to assist in— a manufacturing or processing goods or materials, b working a source…
Section 177 — Disposal of know-how if trade continues to be carried on
Disposal of know-how if trade continues to be carried on 177 1 This section applies if— a a company carrying on a trade receives consideration for the disposal of know-how which has been used in the…
Section 178 — Disposal of know-how as part of disposal of all or part of a trade
Disposal of know-how as part of disposal of all or part of a trade 178 1 This section applies if — a a person carrying on a trade receives consideration for the disposal of know-how which has been…
Section 179 — Seller controlled by buyer etc
Seller controlled by buyer etc 179 1 This section applies if a disposal of know-how is by way of sale and— a the seller is a body of persons over which the buyer has control, b the buyer is a body of…
Section 180 — Application of Chapter
Application of Chapter 180 1 This Chapter applies if— a a company carrying on a trade changes, from one period of account to the next, the basis on which profits of the trade are calculated for…
Section 181 — Giving effect to positive and negative adjustments
Giving effect to positive and negative adjustments 181 1 An amount by way of adjustment must be calculated in accordance with section 182. 2 If the amount produced by the calculation is positive— a…
Section 182 — Calculation of the adjustment
Calculation of the adjustment 182 The amount of the adjustment is calculated as follows. Step 1 Add together any amounts representing the extent to which, comparing the two bases, profits were…
Section 183 — No adjustment for certain expenses previously brought into account
No adjustment for certain expenses previously brought into account 183 1 This section applies if, as a result of a change of basis, expenses brought into account before the change on the old basis…
Section 184 — Cases where adjustment not required until assets realised or written off
Cases where adjustment not required until assets realised or written off 184 1 This section applies if there is a change of basis resulting from a tax adjustment affecting the calculation of any of…
Section 185 — Change from realisation basis to mark to market
Change from realisation basis to mark to market 185 1 This section applies if there is a change of basis from— a not recognising a profit or loss on an asset until the asset is realised, to b…
Section 186 — Election for spreading if section 185 applies
Election for spreading if section 185 applies 186 1 If section 185 applies, the company carrying on the trade may elect for any receipt treated as arising under this Chapter to be spread over 6…
Section 187 — Transfer of insurance business
Transfer of insurance business 187 1 This section applies if— a an asset to which section 185 or 186 applies is transferred from one insurance company to another, b the transfer is made under an…
Section 188 — Charge to tax on post-cessation receipts
Charge to tax on post-cessation receipts 188 The charge to corporation tax on income applies to post-cessation receipts arising from a trade.
Section 189 — Extent of charge to tax
Extent of charge to tax 189 1 A post-cessation receipt is chargeable to tax under this Chapter only so far as it is not otherwise chargeable to corporation or income tax. 2 Accordingly, a…
Section 190 — Basic meaning of “post-cessation receipt”
Basic meaning of “post-cessation receipt” 190 1 In this Part “ post-cessation receipt ” means a sum— a which is received after a person permanently ceases to carry on a trade, and b which arises from…
Section 191 — Other rules about what counts as post-cessation receipts
Other rules about what counts as post-cessation receipts 191 1 The following provisions treat certain amounts as post-cessation receipts for the purposes of this Part— section 82(6) (contributions to…
Section 192 — Debts paid after cessation
Debts paid after cessation 192 1 This section applies if, in calculating the profits of a trade for corporation or income tax purposes, a deduction is made in respect of a debt under— a section 55…
Section 193 — Debts released after cessation
Debts released after cessation 193 1 This section applies if— a in calculating the profits of a trade of any period for corporation or income tax purposes, a deduction is allowed for the expense…