Corporation Tax Act 2010
Sections and provisions with full text and the judgments that cite each one.
Section 249 — When value is received
When value is received 249 1 For the purposes of this Chapter the investor receives value from the CDFI at any time when the CDFI— a repays, redeems or repurchases any securities or shares included…
Section 250 — The amount of value received
The amount of value received 250 1 In a case falling within a provision listed in column 1 of the following table, the amount of value received for the purposes of this Chapter is given by the…
Section 251 — Value received if there is more than one investment
Value received if there is more than one investment 251 1 This section applies if— a the investor makes two or more investments in the CDFI, b the investor is eligible for and claims CITR in respect…
Section 252 — Effect of receipt of value on future claims
Effect of receipt of value on future claims 252 1 This section applies if the investment consists of securities or shares and— a the investor receives any value (other than an amount of insignificant…
Section 253 — Receipts of value by or from connected persons
Receipts of value by or from connected persons 253 In sections 246 to 252, if the context permits, references to the investor or the CDFI include references to any person who at any time in the 6…
Section 254 — CITR subsequently found not to have been due
CITR subsequently found not to have been due 254 If any CITR has been obtained which is subsequently found not to have been due, the CITR must be withdrawn.
Section 255 — Manner of withdrawal or reduction of CITR
Manner of withdrawal or reduction of CITR 255 1 This section applies if any CITR has been obtained which falls to be withdrawn or reduced under this Chapter. 2 The CITR must be withdrawn or reduced…
Section 256 — Meaning of “loan” and “interest”
Meaning of “loan” and “interest” 256 1 In this Part— a references to a “loan” include references to alternative finance arrangements, and b references to “interest” include references to alternative…
Section 256C — Attributing gains to the non-exempt amount: charitable companies
Attributing gains to the non-exempt amount: charitable companies 256C 1 This section applies if a charitable company has a non-exempt amount under section 493 of CTA 2010 for an accounting period. 2…
Section 256D — How gains are attributed to the non-exempt amount: charitable companies
How gains are attributed to the non-exempt amount: charitable companies 256D 1 This section is about the ways in which attributable gains can be attributed to a non-exempt amount under section 256C.…
Section 257 — Purchase and resale arrangements
Purchase and resale arrangements 257 1 This section applies if, under arrangements to which section 503 of CTA 2009 applies, a person (“the first purchaser”) purchases an asset that is sold to…
Section 258 — Deposit arrangements
Deposit arrangements 258 1 This section applies if, under arrangements to which section 505 of CTA 2009 applies, a person (“the depositor”) deposits money with a financial institution. 2 This Part…
Section 259 — Profit share agency arrangements
Profit share agency arrangements 259 1 This section applies if, under arrangements to which section 506 of CTA 2009 applies, a person (“ the principal ”) appoints a financial institution as agent. 2…
Section 260 — Information to be provided by the investor
Information to be provided by the investor 260 1 If— a the investor has obtained CITR in respect of the investment, and b an event occurs because of which CITR attributable to the investment in…
Section 261 — Disclosure
Disclosure 261 1 No obligation as to secrecy or other restriction on the disclosure of information imposed by statute or otherwise prevents the disclosure of information— a by the Secretary of State…
Section 262 — Nominees
Nominees 262 1 For the purposes of this Part— a loans made by or to, or disposed of by, a nominee for a person are treated as made by or to, or disposed of by, that person, and b securities or shares…
Section 263 — Application for postponement of tax pending appeal
Application for postponement of tax pending appeal 263 No application may be made under section 55(3) or (4) of TMA 1970 (application for postponement of payment of tax pending appeal) on the ground…
Section 264 — Identification of securities or shares on a disposal
Identification of securities or shares on a disposal 264 1 This section applies for the purpose of identifying the securities or shares disposed of in any case where— a the investor disposes of part…
Section 265 — Meaning of “issue of securities or shares”
Meaning of “issue of securities or shares” 265 1 In this Part— a references (however expressed) to an issue of securities of any body are to such securities of that body as carry the same rights and…
Section 266 — Meaning of “disposal”
Meaning of “disposal” 266 1 Subject to subsection (2), in this Part “disposal” is read in accordance with TCGA 1992, and related expressions are read accordingly. 2 An investor is treated as…
Section 267 — Construction of references to being “held continuously”
Construction of references to being “held continuously” 267 1 This section applies if for the purposes of this Part it becomes necessary to determine whether the investor has held the investment (or…
Section 268 — Meaning of “associate”
Meaning of “associate” 268 1 In this Part “ associate ”, in relation to a person, means— a any relative or partner of that person, b the trustee or trustees of any settlement in relation to which…
Section 269 — Minor definitions etc
Minor definitions etc 269 1 In this Part— “ body ” includes an unincorporated association, and “ bonus shares ” means shares which are issued otherwise than for payment (whether in cash or…
Section 269A — Overview of Part
Overview of Part 269A 1 This Part contains provision about banking companies. 2 Chapter 2 defines “banking company” and contains other definitions applying for the purposes of this Part. 3 Chapter 3…
Section 269BA — Excluded entities
Excluded entities 269BA 1 For the purposes of section 269B “ excluded entity ” means any of the following entities— a an insurance company or an insurance special purpose vehicle; b an entity which…
Section 269CA — Restriction on deductions for trading losses
Restriction on deductions for trading losses 269CA 1 This section has effect for determining the taxable total profits of a banking company for an accounting period. 2 Any deduction made by the…
Section 269DA — Surcharge on banking companies
Surcharge on banking companies 269DA 1 If a company is a banking company in relation to an accounting period (a “chargeable accounting period”), a sum equal to 3% of its surcharge profits for the…
Section 269DBA — Meaning of “non-banking group relief for carried-forward losses”
Meaning of “non-banking group relief for carried-forward losses” 269DBA 1 In section 269DA(2) “ non-banking group relief for carried-forward losses ” means group relief for carried-forward losses…
Section 269DCA — Meaning of “non-banking transferred-in loss relief”
Meaning of “non-banking transferred-in loss relief” 269DCA 1 In section 269DA(2), “non-banking transferred-in loss relief” means the sum of any amounts that are deducted under section 2A of TCGA 1992…
Section 269ZA — Overview of Part
Overview of Part 269ZA This Part contains provision restricting the amount of certain deductions which a company may make in calculating its taxable total profits for an accounting period.
Section 269ZBA — Restriction on deductions from chargeable gains
Restriction on deductions from chargeable gains 269ZBA 1 This section has effect for determining the taxable total profits of a company for an accounting period. 2 The sum of any deductions made by…
Section 269ZDA — References to a company’s “deductions allowance”
References to a company’s “deductions allowance” 269ZDA 1 This section applies for the purposes of sections 269ZB to 269ZD and 269ZFC. 2 A company’s “deductions allowance” for an accounting period is…
Section 269ZFA — “Relevant profits”
“Relevant profits” 269ZFA 1 A company’s “relevant profits” for an accounting period are— a the company’s qualifying profits for the accounting period, less b the company’s deductions allowance for…
Section 269ZSA — Group allowance nomination: former groups
Group allowance nomination: former groups 269ZSA 1 This section applies where— a a group ceases to be a group for the purposes of this Part (because the companies that were members of the group no…
Section 269ZVA — Group allowance allocation statement: former groups
Group allowance allocation statement: former groups 269ZVA 1 This section applies where— a a group ceases to be a group for the purposes of this Part (because the companies that were members of the…
Section 269ZWA — Increase of deductions allowance for insolvent companies
Increase of deductions allowance for insolvent companies 269ZWA 1 This section applies in relation to a company if— a the company has gone into insolvent liquidation (see subsection (4) ), or b a…
Section 269ZYA — Deductions allowance for company without a source of chargeable income
Deductions allowance for company without a source of chargeable income 269ZYA 1 This section applies in relation to a company and a financial year (“the relevant financial year”) if— a the company…
Section 269ZYZA — Other relevant credits
Other relevant credits 269ZYZA 1 For the purposes of section 269ZX a “relevant remeasurement credit” is a credit, or other income, brought into account in respect of a relevant remeasurement excess.…
Section 269ZZA — Excessive specifications of deductions allowance
Excessive specifications of deductions allowance 269ZZA 1 This section applies if a company's tax return for an accounting period specifies an excessive amount as— a the company's deductions…
Section 269B — Meaning of “banking company”
Meaning of “banking company” 269B 1 In this Part “ banking company ”, in relation to an accounting period, means— a a company which meets conditions A to E, b a company which— i meets conditions A…
Section 269BB — Relevant regulated activities
Relevant regulated activities 269BB In this Part “ relevant regulated activity ” means an activity which is a regulated activity for the purposes of FISMA 2000 by virtue of any of the following…
Section 269CB — Restriction on deductions for non-trading deficits from loan relationships
Restriction on deductions for non-trading deficits from loan relationships 269CB 1 This section has effect for determining the taxable total profits of a banking company for an accounting period. 2…
Section 269DB — Meaning of “non-banking group relief”
Meaning of “non-banking group relief” 269DB 1 In section 269DA(2), “ non-banking group relief ” means group relief that relates to losses or other amounts that the surrendering company has for a…
Section 269ZB — Restriction on deductions from trading profits
Restriction on deductions from trading profits 269ZB 1 This section has effect for determining the taxable total profits of a company for an accounting period. 2 The sum of any deductions made by the…
Section 269ZFB — Modifications for certain insurance companies
Modifications for certain insurance companies 269ZFB 1 This section has effect for determining the taxable total profits of a company for an accounting period if the company— a is an insurance…
Section 269ZYB — Provisional application of section 269ZYA
Provisional application of section 269ZYA 269ZYB 1 This section applies in relation to a company and an accounting period if— a the conditions in section 269ZYA (3) (a) and (b) are met in relation to…
Section 269ZZB — Meaning of “group”
Meaning of “group” 269ZZB 1 In this Part “ group ” means two or more companies which together meet the following condition. 2 The condition is that one of the companies is— a the ultimate parent of…
Section 269BC — Banking companies: supplementary definitions
Banking companies: supplementary definitions 269BC 1 This section contains definitions of terms used in sections 269B to 269BB (and this section). 2 “ Asset management activities ” means activities…
Section 269ZC — Restriction on deductions from non-trading profits
Restriction on deductions from non-trading profits 269ZC 1 This section has effect for determining the taxable total profits of a company for an accounting period. 2 The sum of any deductions made by…
Section 269ZFC — Restriction on deductions of non-BLAGAB allowable losses from BLAGAB chargeable gains
Restriction on deductions of non-BLAGAB allowable losses from BLAGAB chargeable gains 269ZFC 1 This section has effect for determining the taxable total profits of an insurance company for an…