Corporation Tax Act 2010 section 997

Overview of Part

Section 997 provides a roadmap to Part 23 of the Corporation Tax Act 2010, which deals with company distributions — explaining what the Part covers and where to find its various rules.

• Chapters 2 to 5 define what counts as a distribution and what does not, including rules on demergers (Chapter 5) that can trigger income tax or corporation tax charges on certain payments
• Additional rules cover who is treated as receiving a distribution, how distribution amounts are calculated, special rules for distributions by certain types of company, and requirements for returns and information
• Chapter 6 sets out general rules on returns and information relating to distributions, while Chapter 8 contains definitions and interpretation provisions for the whole Part
• Section 152(3)(b) of the Finance Act 1995 allows regulations to modify various distribution rules as they apply to open-ended investment companies and their deemed distributions