Corporation Tax Act 2010
Sections and provisions with full text and the judgments that cite each one.
Section 905 — Current lessor taxed by reference to accountancy rental earnings
Current lessor taxed by reference to accountancy rental earnings 905 1 This section applies if, in the case of any period of account of the current lessor (“L”)— a this Chapter applies in relation to…
Section 906 — Reduction of taxable rent by cumulative rental excesses: introduction
Reduction of taxable rent by cumulative rental excesses: introduction 906 1 This section and sections 907 to 910 provide for reductions of the taxable rent of a current lessor (“L”) under a lease to…
Section 907 — Meaning of “accountancy rental excess” and “cumulative accountancy rental excess”
Meaning of “accountancy rental excess” and “cumulative accountancy rental excess” 907 1 For the purposes of this Chapter, there is an “ accountancy rental excess ” in relation to the lease for a…
Section 908 — Reduction of taxable rent by the cumulative accountancy rental excess
Reduction of taxable rent by the cumulative accountancy rental excess 908 1 This section applies if a period of account of the current lessor (“L”) is one for which— a the normal rent in relation to…
Section 909 — Meaning of “normal rental excess” and “cumulative normal rental excess”
Meaning of “normal rental excess” and “cumulative normal rental excess” 909 1 For the purposes of this Chapter, there is a “ normal rental excess ” in relation to a lease for any period of account of…
Section 910 — Reduction of taxable rent by the cumulative normal rental excess
Reduction of taxable rent by the cumulative normal rental excess 910 1 This section applies if a period of account of the current lessor (“L”) is one for which— a the taxable rent in relation to the…
Section 911 — Relief for bad debts: reduction of cumulative accountancy rental excess
Relief for bad debts: reduction of cumulative accountancy rental excess 911 1 This section applies if in relation to the lease for any period of account of the current lessor— a there is a cumulative…
Section 912 — Recovery of bad debts following reduction under section 911
Recovery of bad debts following reduction under section 911 912 1 This section applies if in relation to the lease— a the cumulative accountancy rental excess for any period of account of the current…
Section 913 — Relief for bad debts: reduction of cumulative normal rental excess
Relief for bad debts: reduction of cumulative normal rental excess 913 1 This section applies if in relation to the lease for any period of account of the current lessor— a there is a cumulative…
Section 914 — Recovery of bad debts following reduction under section 913
Recovery of bad debts following reduction under section 913 914 1 This section applies if in relation to the lease— a the cumulative normal rental excess for any period of account of the current…
Section 915 — Effect of disposals of leases: general
Effect of disposals of leases: general 915 1 This section applies if the current lessor (“L”) or a person connected with L disposes of— a the lessor's interest under the lease, b the leased asset, or…
Section 916 — Assignments on which neither a gain nor a loss accrues
Assignments on which neither a gain nor a loss accrues 916 1 This section applies if— a the current lessor (“L”) assigns the lessor's interest under the lease, and b the assignment is a disposal on…
Section 917 — Effect of capital allowances: introduction
Effect of capital allowances: introduction 917 1 This section and sections 918 to 922 apply if an occasion occurs on which a major lump sum falls to be paid in relation to the lease of the asset. 2…
Section 918 — Cases where expenditure taken into account under Part 2, 5 or 8 of CAA 2001
Cases where expenditure taken into account under Part 2, 5 or 8 of CAA 2001 918 1 This section applies if capital expenditure incurred by the current lessor (“L”) in respect of the leased asset is or…
Section 919 — Cases where expenditure taken into account under other provisions of CAA 2001
Cases where expenditure taken into account under other provisions of CAA 2001 919 1 This section applies if any allowance is or has been given in respect of capital expenditure incurred by the…
Section 920 — Capital allowances deductions: waste disposal and cemeteries
Capital allowances deductions: waste disposal and cemeteries 920 1 This section applies if any deduction is or has been allowed to the current lessor (“L”) in respect of capital expenditure incurred…
Section 921 — Capital allowances deductions: films
Capital allowances deductions: films 921 1 This section applies if— a any relevant film deduction has been allowed to the current lessor (“L”) in respect of expenditure incurred in connection with…
Section 922 — Contributors to capital expenditure
Contributors to capital expenditure 922 1 This section applies if— a section 918 or 919 applies in relation to a leased asset, b allowances are or have been made to a person (“ the contributor ”) as…
Section 923 — Pre-26 November 1996 schemes where this Chapter does not at first apply
Pre-26 November 1996 schemes where this Chapter does not at first apply 923 1 This section applies if— a the lease of an asset forms part of a pre-26 November 1996 scheme, but b the conditions in…
Section 924 — Post-25 November 1996 schemes to which Chapter 3 applied first
Post-25 November 1996 schemes to which Chapter 3 applied first 924 1 This section applies if— a the conditions in section 902 become met in the case of the lease of the asset, and b immediately…
Section 925 — Introduction to Chapter
Introduction to Chapter 925 1 This Chapter applies to arrangements involving the lease of an asset that— a fall to be treated, in accordance with generally accepted accounting practice, as a finance…
Section 926 — Purpose of this Chapter
Purpose of this Chapter 926 1 The main purpose of this Chapter where there are arrangements to which this Chapter applies is, in relation to a company entitled to the lessor's interest under the…
Section 927 — Leases to which this Chapter applies
Leases to which this Chapter applies 927 1 This Chapter applies if— a a lease of an asset is or has been granted on or after 26 November 1996, b the lease forms part of a post-25 November 1996…
Section 928 — Current lessor taxed by reference to accountancy rental earnings
Current lessor taxed by reference to accountancy rental earnings 928 1 This section applies if, in the case of any period of account of the current lessor (“L”)— a this Chapter applies in relation to…
Section 929 — Application of provisions of Chapter 2 for purposes of this Chapter
Application of provisions of Chapter 2 for purposes of this Chapter 929 Sections 906 to 916 apply for the purposes of this Chapter as they apply for the purposes of Chapter 2, but taking the…
Section 930 — Pre-26 November 1996 schemes and post-25 November 1996 schemes
Pre-26 November 1996 schemes and post-25 November 1996 schemes 930 1 For the purposes of this Part, a lease of an asset— a forms part of a pre-26 November 1996 scheme if (and only if) the conditions…
Section 931 — Time apportionment where periods of account do not coincide
Time apportionment where periods of account do not coincide 931 1 Subsection (2) applies if a period of account of the lessor (“L”) does not coincide with a period of account of a person connected…
Section 932 — Periods of account and related periods of account and accounting periods
Periods of account and related periods of account and accounting periods 932 1 In this Part “ period of account ” means a period for which accounts are made up. 2 Except for the purposes of sections…
Section 933 — Connected persons
Connected persons 933 1 For the purposes of this Part in its application as a result of any leasing arrangements, if a person (“A”) is connected with another (“B”) at some time during the relevant…
Section 934 — Assets which represent the leased asset
Assets which represent the leased asset 934 1 For the purposes of this Part, the assets described in subsection (2) are treated as representing the leased asset. 2 Those assets are— a any asset…
Section 935 — Parent undertakings and consolidated group accounts
Parent undertakings and consolidated group accounts 935 1 This Part has effect in relation to a body corporate that— a is a parent undertaking, but b for accounting purposes is not required to…
Section 936 — Assessments and adjustments
Assessments and adjustments 936 All such assessments and adjustments must be made as are necessary to give effect to this Part.
Section 937 — Interpretation of Part
Interpretation of Part 937 In this Part, unless the context otherwise requires— “ accountancy rental earnings ” has the meaning given by section 897(1), “accountancy rental excess” is to be read— for…
Section 937A — Overview
Overview 937A This Part contains rules about the treatment of certain losses made by companies as a result of risk transfer schemes.
Section 937NA — Priority
Priority 937NA For the purposes of this Part, the provisions of Part 10 of TIOPA 2010 (corporate interest restriction) are to be treated as of no effect.
Section 937B — Group schemes and single company schemes
Group schemes and single company schemes 937B 1 A risk transfer scheme may be— a a group scheme, or b a risk transfer scheme other than a group scheme (a “single-company scheme”). 2 A risk transfer…
Section 937C — Meaning of “risk transfer scheme”
Meaning of “risk transfer scheme” 937C 1 A scheme to which a company (“company A”) is a party is a “risk transfer scheme” if conditions 1 to 3 are met. 2 Condition 1 is that the purpose, or one of…
Section 937D — Meaning of “the scheme rate, index or value”
Meaning of “the scheme rate, index or value” 937D In this Part “ the scheme rate, index or value ”, in relation to a risk transfer scheme, means the rate, index or value mentioned in section…
Section 937E — Scheme losses and scheme profits
Scheme losses and scheme profits 937E 1 A loss or profit made by a company in an accounting period is a “scheme loss” or “ scheme profit ” in relation to a risk transfer scheme to which the company…
Section 937F — Ring-fenced scheme losses and relevant scheme profits
Ring-fenced scheme losses and relevant scheme profits 937F 1 Subsection (2) applies if— a a company makes one or more scheme losses in an accounting period in relation to a risk transfer scheme, and…
Section 937G — Ring-fenced scheme loss: treatment in period in which made
Ring-fenced scheme loss: treatment in period in which made 937G 1 This section applies for the purpose of determining the amount (if any) of a ring-fenced scheme loss that may be brought into account…
Section 937H — Ring-fenced scheme loss: treatment in subsequent periods
Ring-fenced scheme loss: treatment in subsequent periods 937H 1 This section applies where— a a company makes one or more scheme profits in an accounting period in relation to a risk transfer scheme,…
Section 937I — A company's losses pool and profits pool
A company's losses pool and profits pool 937I 1 The amount of a company's losses pool for a risk transfer scheme as at the beginning of an accounting period (“the current accounting period”) is— A +…
Section 937J — Tax capacity assumption
Tax capacity assumption 937J 1 This section applies for the purpose of determining whether condition 2 in section 937C is met. 2 Where a member of the relevant group (“ the company ”) makes a scheme…
Section 937K — Meaning of “associated with”
Meaning of “associated with” 937K 1 For the purposes of this Part a company (“company B”) is associated with another company (“company A”) at a time (“ the relevant time ”) if any of the following…
Section 937L — Interpretation of references to economic losses and profits
Interpretation of references to economic losses and profits 937L 1 A reference in this Part to an “economic” loss or profit made by any person in a period is to a loss or profit made by that person…
Section 937M — Foreign currency accounting
Foreign currency accounting 937M 1 In determining under this Part amounts that a company may or may not bring into account in an accounting period, economic losses and profits are to be computed in…
Section 937N — Meaning of “scheme”
Meaning of “scheme” 937N In this Part “ scheme ” includes any scheme, arrangements or understanding of any kind whatever, whether or not legally enforceable, involving a single transaction or two or…
Section 937O — Power to amend this Part in its application to dealers in securities
Power to amend this Part in its application to dealers in securities 937O 1 The Treasury may by order amend any enactment contained in this Part so as to apply (with or without modifications) the…
Section 938A — Losses and profits from group mismatch schemes to be disregarded
Losses and profits from group mismatch schemes to be disregarded 938A 1 This section applies to a company that— a is (at any time) a party to a group mismatch scheme, and b is a member of the scheme…