Corporation Tax Act 2010 section 1101

Other distributions etc: returns and information

Section 1101 sets out the reporting requirements for companies that make distributions which are not qualifying distributions (that is, distributions not covered by section 1100), including what must be included in the return, filing deadlines, and HMRC's powers to request further information.

• When a company makes a non-qualifying distribution, it must file a return with HMRC giving details of the transaction, the recipient(s), and the amount or value received by each recipient.
• The return must be filed within 14 days of the end of the accounting period in which the distribution is made, or within 14 days of the distribution date if it falls outside an accounting period.
• Where it is unclear whether a transaction gives rise to a non-qualifying distribution, the company must still file a return within the same deadline, and HMRC may request further information.
• If HMRC believes that transaction details have been omitted from a return, an officer may serve a notice requiring the company to supply the missing information within a specified time.