Corporation Tax Act 2010
Sections and provisions with full text and the judgments that cite each one.
Section 579 — Effects of cessation: corporation tax
Effects of cessation: corporation tax 579 1 Subsections (3) to (7) apply if— a a group or company ceases to be a UK REIT, or b a company ceases to be a member of a group UK REIT. 2 For the purposes…
Section 580 — Effects of cessation: CAA 2001
Effects of cessation: CAA 2001 580 1 Subsections (3) to (5) apply for the purposes of CAA 2001 if a group or a company ceases to be a UK REIT. 2 Subsections (3) to (5) also apply for those purposes…
Section 581 — Early exit by notice
Early exit by notice 581 1 Subsection (6) applies if conditions A, B and C are met. 2 Condition A is that a group or company ceases to be a UK REIT as a result of a notice under section 571. 3…
Section 582 — Early exit
Early exit 582 1 This section applies if— a a group or a company ceases to be a UK REIT as a result of section 572 or 578, and b the group or company has been a UK REIT for a continuous period…
Section 583 — Overview of Chapter
Overview of Chapter 583 1 This Chapter makes provision about how this Part applies in relation to property rental business carried on— a by a joint venture company (as defined by section 584), or b…
Section 584 — Meaning of “joint venture company” and “joint venture group”
Meaning of “joint venture company” and “joint venture group” 584 1 In this Chapter “ joint venture company ” means a company carrying on property rental business (“the joint venture”) in…
Section 585 — Meaning of “venturing group” and “venturing company”
Meaning of “venturing group” and “venturing company” 585 1 In this Chapter “ venturing group ” means a group UK REIT the principal company of which has given a notice under section 586(1) or 587(1).…
Section 586 — Notice for Part to apply: joint venture company
Notice for Part to apply: joint venture company 586 1 The principal company of a group UK REIT may give notice that this Part is to apply (in accordance with this Chapter) in relation to property…
Section 587 — Notice for Part to apply: joint venture group
Notice for Part to apply: joint venture group 587 1 The principal company of a group UK REIT may give notice that this Part is to apply (in accordance with this Chapter) in relation to property…
Section 588 — Effect of notice under section 586
Effect of notice under section 586 588 1 If a notice is given under section 586(1), this Part applies in relation to the property rental business carried on by the joint venture company as if the…
Section 589 — Effect of notice under section 587
Effect of notice under section 587 589 1 If a notice is given under section 587(1), this Part applies in relation to the property rental business carried on by the member or members of the joint…
Section 590 — Duration of notice under section 586 or 587
Duration of notice under section 586 or 587 590 1 A notice given under section 586(1) ceases to have effect if— a the venturing group ceases to meet either of the 40% tests in relation to the joint…
Section 591 — Conditions as to balance of business
Conditions as to balance of business 591 1 This section applies if— a a notice is given under section 586 in respect of a joint venture company, or b a notice is given under section 587 in respect of…
Section 592 — Joint venture groups: financial statements
Joint venture groups: financial statements 592 1 This section applies if a notice is given under section 587 in respect of a joint venture group. 2 The principal company of the joint venture group…
Section 593 — Financial statements under section 532: joint venture groups
Financial statements under section 532: joint venture groups 593 1 This section applies if a notice is given under section 587 in respect of a joint venture group. 2 The amount to be included in the…
Section 594 — Modifications of Chapter 3
Modifications of Chapter 3 594 1 Section 534(4) (profits) has effect in relation to a joint venture company or a member of a joint venture group as if for the words from “is to be treated” to the end…
Section 595 — Joint venture company liable for additional charge
Joint venture company liable for additional charge 595 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 596 — Member of joint venture group liable for additional charge
Member of joint venture group liable for additional charge 596 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 597 — Cases where no additional charge due
Cases where no additional charge due 597 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 598 — Chapter 10: supplementary
Chapter 10: supplementary 598 1 References in this Chapter to an “ equity holder ”, in relation to a company, are to a person who— a holds ordinary shares in the company, or b is a loan creditor of…
Section 599 — Calculation of profits
Calculation of profits 599 1 This section is about the calculation of profits for the purposes of any provision of this Part which provides that profits are to be calculated in accordance with this…
Section 599A — Amount of distribution consisting of share capital issued in lieu of cash dividend
Amount of distribution consisting of share capital issued in lieu of cash dividend 599A 1 For the purposes of this Part, the amount of a distribution, so far as it consists of share capital issued in…
Section 600 — Power to make regulations about cases involving related persons
Power to make regulations about cases involving related persons 600 1 If they consider it expedient in the public interest the Treasury may make regulations about the application of this Part to…
Section 601 — Availability of group reliefs
Availability of group reliefs 601 1 In the application of a provision specified in subsection (2) to a group of companies, the group so far as it carries on property rental business while it is a UK…
Section 602 — Effect of deemed disposal and reacquisition
Effect of deemed disposal and reacquisition 602 A deemed disposal and reacquisition of an asset under this Part is to be taken into account for the purposes of any subsequent disposal (whether actual…
Section 603 — Regulations
Regulations 603 Regulations under this Part— a may make provision which applies generally or only in specified cases or circumstances, b may make different provision for different cases or…
Section 604 — Property rental business: exclusion of listed business
Property rental business: exclusion of listed business 604 1 Business of a class listed in the table in subsection (2) is not property rental business. 2 This is the table— Class Description Class 1…
Section 605 — Property rental business: exclusion of business producing listed income
Property rental business: exclusion of business producing listed income 605 1 Business is not property rental business so far as it gives rise to income of a class listed in the table in subsection…
Section 606 — Groups
Groups 606 1 For the purposes of this Part a company (“the principal company”) and all its 75% subsidiaries form a group; and if any of those subsidiaries have 75% subsidiaries the group includes…
Section 607 — Meaning of “entry” and “cessation” etc
Meaning of “entry” and “cessation” etc 607 1 In this Part “ entry ” means— a in the case of a group, the time when the group becomes a group UK REIT, and b in the case of a company, the time when the…
Section 608 — References to assets
References to assets 608 1 A reference in this Part to an asset includes a reference to— a part of an asset, and b an interest in, or right in relation to, an asset. 2 A reference in this Part to…
Section 609 — Definitions
Definitions 609 In this Part— “ accounting period 1 ”, in relation to a company that is, or is a member of, a UK REIT, means the accounting period that begins on entry (in accordance with section…
Section 610 — Discretionary payments by trustees to companies
Discretionary payments by trustees to companies 610 1 This section applies if— a the trustees of a settlement make a payment to a company, b sections 494 and 495 of ITA 2007 (grossing up of trustees'…
Section 611 — Income tax provisions to apply in relation to trustees' expenses
Income tax provisions to apply in relation to trustees' expenses 611 1 This section applies in a case of a kind mentioned in section 499(1) of ITA 2007 (beneficiary entitled to some or all of the…
Section 612 — Overview of Chapter
Overview of Chapter 612 1 This Chapter contains provision about taxation in relation to— a open-ended investment companies (see sections 613 and 614), b authorised unit trusts (see sections 616 to…
Section 613 — Meaning of “open-ended investment company”
Meaning of “open-ended investment company” 613 In this Chapter “ open-ended investment company ” means a company incorporated in the United Kingdom to which section 236 of FISMA 2000 applies.
Section 614 — Applicable corporation tax rate
Applicable corporation tax rate 614 The rate of corporation tax in relation to an open-ended investment company for any financial year is the rate at which income tax at the basic rate is charged for…
Section 615 — Umbrella companies
Umbrella companies 615 1 In this section “ umbrella company ” means an open-ended investment company— a whose instrument of incorporation provides arrangements for separate pooling of the…
Section 616 — Meaning of “authorised unit trust” and “unit holder”
Meaning of “authorised unit trust” and “unit holder” 616 1 In this Chapter “ authorised unit trust ” means, in relation to an accounting period, a unit trust scheme in respect of which an order under…
Section 617 — Authorised unit trust treated as UK resident company
Authorised unit trust treated as UK resident company 617 1 In respect of income arising to the trustees of an authorised unit trust, and for the purposes of the provisions relating to relief for…
Section 618 — Applicable corporation tax rate
Applicable corporation tax rate 618 The rate of corporation tax in relation to an authorised unit trust for any financial year is the rate at which income tax at the basic rate is charged for the tax…
Section 619 — Umbrella schemes
Umbrella schemes 619 1 In this section “ umbrella scheme ” means a unit trust scheme— a which provides arrangements for separate pooling of the contributions of the participants and the profits or…
Section 620 — Court investment funds
Court investment funds 620 1 In this section “ court investment fund ” means a fund established under section 42 of the Administration of Justice Act 1982 (investment funds for money paid into…
Section 621 — Treatment of income
Treatment of income 621 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 622 — Treatment of capital expenditure
Treatment of capital expenditure 622 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 622A — Power to make provision about treatment of transactions
Power to make provision about treatment of transactions 622A 1 The Treasury may by regulations provide that a transaction of a specified kind entered into by an investment trust is to be treated for…
Section 623 — Meaning of “securitisation company”
Meaning of “securitisation company” 623 1 In this Chapter “ securitisation company ” means a company to which subsection (2) or (6) applies. 2 This subsection applies to a company if— a conditions A,…
Section 624 — Power to make regulations about the taxation of securitisation companies
Power to make regulations about the taxation of securitisation companies 624 1 The Treasury may by regulations make provision about the application of the Taxes Acts in relation to a securitisation…
Section 625 — Regulations: supplementary
Regulations: supplementary 625 1 Regulations under this Chapter may— a make different provision for different descriptions of company, b contain incidental, supplemental, consequential and…
Section 626 — Meaning of “final year”, “penultimate year” etc
Meaning of “final year”, “penultimate year” etc 626 1 This section applies for the purposes of this Chapter. 2 In relation to a company that is being wound up— “ the final year ” means the financial…