Corporation Tax Act 2010
Sections and provisions with full text and the judgments that cite each one.
Section 627 — Meaning of “main rate of corporation tax” for companies with ring fence profits or small profits
Meaning of “main rate of corporation tax” for companies with ring fence profits or small profits 627 1 This section applies if corporation tax chargeable on any profits of a company for a financial…
Section 628 — Company in liquidation: corporation tax rates
Company in liquidation: corporation tax rates 628 1 This section applies, in the case of a company that is being wound up, in relation to profits of the company arising in its final year (see…
Section 629 — Company in liquidation: making of assessment to tax
Company in liquidation: making of assessment to tax 629 1 This section applies if— a an assessment to corporation tax is made on the profits of a company that is being wound up, and b the assessment…
Section 630 — Company in administration: corporation tax rates
Company in administration: corporation tax rates 630 1 This section applies, in the case of a company in administration, in relation to profits of the company arising in its final year (see…
Section 631 — Company in administration: making of assessment to tax
Company in administration: making of assessment to tax 631 1 This section applies if— a an assessment to corporation tax is made on the profits of a company in administration, and b the assessment is…
Section 632 — Meaning of rate being “fixed” or “proposed”
Meaning of rate being “fixed” or “proposed” 632 1 This section applies for the purposes of sections 628 and 630. 2 A rate of corporation tax is “fixed”— a in the case of a company that is being wound…
Section 633 — Exemption for interest on overpaid tax in final accounting period
Exemption for interest on overpaid tax in final accounting period 633 1 This section applies if, in the final accounting period of a company that is being wound up or is in administration, interest…
Section 634 — Overview of Chapter
Overview of Chapter 634 1 This Chapter provides for the receipts of certain types of company being wound up to be charged to corporation tax. 2 For provision charging the receipts of such companies…
Section 635 — Application of Chapter
Application of Chapter 635 1 This Chapter applies if— a a company is being or has been wound up by the court in the United Kingdom, and b conditions A, B and C are met. 2 Condition A is that the…
Section 636 — Charge to corporation tax on winding up receipts
Charge to corporation tax on winding up receipts 636 1 The charge to corporation tax on income applies to winding up receipts arising from the deposit-taking trade. 2 Subsection (1) applies in…
Section 637 — Transfer of rights to payment
Transfer of rights to payment 637 1 This section applies if— a the company or its liquidator transfers for value to another person the right to receive a sum arising from the deposit-taking trade,…
Section 638 — Allowable deductions
Allowable deductions 638 1 In calculating the amount on which corporation tax is charged under this Chapter for an accounting period, deductions are allowed in accordance with this section from the…
Section 639 — Election to carry back
Election to carry back 639 1 This section applies if a winding up receipt arising from the deposit-taking trade is received in an accounting period beginning no later than 6 years after the company…
Section 640 — Relationship of Chapter with other corporation tax provisions
Relationship of Chapter with other corporation tax provisions 640 1 If a winding up receipt arising from the deposit-taking trade is chargeable to corporation tax under this Chapter it is not…
Section 641 — Interpretation of Chapter
Interpretation of Chapter 641 1 This section applies for the purposes of this Chapter. 2 Winding up proceedings start against a company at the time when the petition for its winding up by the court…
Section 642 — Disregard of rent from members and of interest payable
Disregard of rent from members and of interest payable 642 1 Subsections (2) and (3) apply if a housing association makes a claim under this section for an accounting period or part of an accounting…
Section 643 — Exemption for gains on a sale of property
Exemption for gains on a sale of property 643 1 This section applies if— a chargeable gains accrue to a housing association on a disposal by way of sale of any property which has been occupied, or is…
Section 644 — Approval of housing associations
Approval of housing associations 644 1 In the case of a housing association in Great Britain, the power to approve housing associations for the purposes of this Chapter— a is exercisable by the…
Section 645 — Tests to be satisfied by the association
Tests to be satisfied by the association 645 1 The authority mentioned in section 644(1) or (2) must not approve a housing association unless it is satisfied that the association satisfies each of…
Section 646 — Delegation of powers to the Regulator of Social Housing
Delegation of powers to the Regulator of Social Housing 646 1 In relation to a housing association which is a registered provider of social housing (see section 80(2) of the Housing and Regeneration…
Section 647 — Claims under section 642 or 643
Claims under section 642 or 643 647 1 A claim under section 642 or 643 must be made— a within two years after the end of the accounting period to which it relates, or b if it relates to part of an…
Section 648 — Adjustments of liability
Adjustments of liability 648 1 If an adjustment of a housing association's liability to corporation tax is necessary as a result of a claim under section 642, the adjustment may be made by an…
Section 649 — Power to make further provision
Power to make further provision 649 1 The Secretary of State may by statutory instrument make regulations with respect to England and Scotland for the purpose of carrying out the provisions of this…
Section 650 — Meaning of “self-build society”
Meaning of “self-build society” 650 1 Subsections (2) and (3) give the meaning of “self-build society” in this Chapter. 2 In England, Scotland and Wales “ self-build society ” has the same meaning as…
Section 651 — Disregard of rent from members
Disregard of rent from members 651 1 If a self-build society makes a claim under this section for an accounting period or part of an accounting period during which the society was approved for the…
Section 652 — Exemption for gains on disposals of land to members
Exemption for gains on disposals of land to members 652 1 This section applies if— a chargeable gains accrue to a self-build society on a disposal of land to a member of the society, b the gains…
Section 653 — Approval of self-build societies
Approval of self-build societies 653 1 The power to approve self-build societies for the purposes of this Chapter is exercisable— a in relation to England and Scotland, by the Secretary of State, b…
Section 654 — Delegation of powers to the Regulator of Social Housing
Delegation of powers to the Regulator of Social Housing 654 1 The Secretary of State may delegate to the Regulator of Social Housing any function of the Secretary of State under section 653 in a case…
Section 655 — Claims under section 651 or 652
Claims under section 651 or 652 655 1 A claim under section 651 or 652 must be made— a within two years after the end of the accounting period to which it relates, or b if it relates to part of an…
Section 656 — Adjustments of liability
Adjustments of liability 656 1 If an adjustment of a self-build society's liability to corporation tax is necessary as a result of a claim under section 651, the adjustment may be made by an…
Section 657 — Power to make further provision
Power to make further provision 657 1 The Secretary of State may by statutory instrument make regulations with respect to England and Scotland for the purpose of carrying out the provisions of this…
Section 658 — Meaning of “community amateur sports club” and “registered club”
Meaning of “community amateur sports club” and “registered club” 658 1 A club is entitled to be registered as a community amateur sports club if conditions A, B and C are met. 1A Condition A is that…
Section 659 — Meaning of “open to the whole community”
Meaning of “open to the whole community” 659 1 A club is “ open to the whole community ” for the purposes of section 658 if— a its membership is open to all without discrimination, b its facilities…
Section 660 — Meaning of “organised on an amateur basis”
Meaning of “organised on an amateur basis” 660 1 A club is “ organised on an amateur basis ” for the purposes of section 658 if— a it is non-profit making (see subsections (2) and (3)), b it provides…
Section 660A — Clubs consisting mainly of social members
Clubs consisting mainly of social members 660A 1 A club is not to be regarded as a club that has as its main purpose the provision of facilities for, and the promotion of participation in, one or…
Section 661 — Meaning of “eligible sport”, “qualifying purposes” etc
Meaning of “eligible sport”, “qualifying purposes” etc 661 1 For the purposes of this Chapter “ eligible sport ” means a sport which is designated for those purposes by an order made by the Treasury.…
Section 661A — The location condition
The location condition 661A 1 A club meets the location condition for the purposes of section 658 if— a it is established in the United Kingdom ..., and b the facilities that it provides for eligible…
Section 661CA — The income condition
The income condition 661CA 1 A club meets the income condition for the purposes of section 658 if the sum of— a the receipts brought into account in calculating the club’s trading income (“trading…
Section 661B — The management condition
The management condition 661B 1 A club meets the management condition for the purposes of section 658 if its managers are fit and proper persons to be managers of the club. 2 In this paragraph “…
Section 661C — Periods over which management condition treated as met
Periods over which management condition treated as met 661C 1 This paragraph applies in relation to any period throughout which the management condition is not met. 2 The management condition is…
Section 661D — Tax treatment of gifts qualifying for gift aid relief
Tax treatment of gifts qualifying for gift aid relief 661D 1 This section applies if a gift is made to a registered club by an individual and the gift is a qualifying donation for the purposes of…
Section 661E — Tax treatment of gifts of money from companies
Tax treatment of gifts of money from companies 661E If a registered club receives a gift of a sum of money from a company which is not a charity, the gift is treated as an amount in respect of which…
Section 662 — Exemption for UK trading income
Exemption for UK trading income 662 1 A club which is a registered club throughout an accounting period may make a claim for its UK trading income for that period to be exempt from corporation tax if…
Section 663 — Exemption for UK property income
Exemption for UK property income 663 1 A club which is a registered club throughout an accounting period may make a claim for its UK property income for that period to be exempt from corporation tax…
Section 664 — Exemption for interest , gift aid and company gift income
Exemption for interest , gift aid and company gift income 664 1 A club which is a registered club throughout an accounting period may make a claim for— a its interest income for that period, ... b…
Section 665 — Exemption for chargeable gains
Exemption for chargeable gains 665 A registered club to which a gain accrues may make a claim for the gain not to be a chargeable gain for the purposes of TCGA 1992 if the whole of it is applied for…
Section 665A — Claims in relation to interest , gift aid and company gift income
Claims in relation to interest , gift aid and company gift income 665A 1 This section applies to— a claims for repayment of income tax treated as having been paid by virtue of section 661D (tax…
Section 666 — Exemptions reduced if non-qualifying expenditure incurred
Exemptions reduced if non-qualifying expenditure incurred 666 1 This section applies if— a a registered club has relevant income or relevant gains for an accounting period (“the accounting period in…
Section 667 — Rules for attributing surplus amount to earlier periods etc
Rules for attributing surplus amount to earlier periods etc 667 1 This section supplements section 666. 2 An amount exempted under this Chapter for an earlier accounting period is reduced by the…
Section 668 — How income and gains are attributed
How income and gains are attributed 668 1 A registered club may specify the income and gains to be reduced (in whole or in part) as a result of section 666. 2 A specification under subsection (1) is…