Corporation Tax Act 2009 section 1218B

"Company with investment business" and "investment business"

Section 1218B defines what is meant by a "company with investment business" and clarifies how the term "investment business" should be interpreted for the purposes of Part 16 of the Act.

  • A company with investment business is one whose business consists wholly or partly of making investments
  • Credit unions are specifically excluded from being treated as companies with investment business
  • The term "investment business" takes its meaning from section 1219(2), which deals with expenses of management
  • The definition of "investment business" under section 1219(2) does not alter the broader definition of "company with investment business"

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