Respond to a Corporation Tax penalty or enquiry
- 1 step
UK Act of Parliament
2009
United Kingdom
Corporation Tax Act 2009
At a glance
Enforced by
What's here
16 compliance obligations, 8 practical guides across 2 topics · 9 journeys
Penalty landscape
1 of 16 obligations carry a criminal penalty. 1 carries different penalties and 14 have no criminal penalty — flagged in the list below.
Who this Act binds
Business-side actors with duties under this Act, ranked by how often they appear.
- Trader 11
- Any Person 1
- Director or Officer 1
Plus 3 non-business duties on Crown ministers, regulators, local authorities or tribunals — shown collapsed under each section below.
Step-by-step journeys using this legislation
Walkthroughs that take you from a real business situation to compliance.
Set up a limited company
- 1 step
Manage your tax compliance
- 1 step
File your first Corporation Tax return
- 4 steps
Corporation Tax quick compliance check
- 2 steps
Start a business
- 1 step
Relevant guidance
Practical guides for businesses affected by this Act, ordered by how closely they engage with it.
Direct — cites this Act
1 guidesSupporting — topic alignment
5 guidesMentioned in related content
2 guidesOther Acts binding the same actors
For each actor bound by this Act, the other UK Acts that bind them most often. Useful for understanding the full compliance landscape facing each role.
Traders also bound by 219 other Acts (top 5 shown)
- Value Added Tax Regulations 1995 1995 952 duties
- TULRCA 1992 1992 39 duties
- Companies Act 2006 2006 39 duties
- Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 2013 39 duties
- The Customs (Import Duty) (EU Exit) Regulations 2018 2018 33 duties
Any Person also bound by 749 other Acts (top 5 shown)
- Human Medicines Regulations 2012 2012 110 duties
- Licensing Act 2003 2003 105 duties
- Merchant Shipping Act 1995 1995 97 duties
- Road Traffic Act 1988 1988 95 duties
- Air Navigation Order 2016 2016 86 duties
Directors and Officers also bound by 224 other Acts (top 5 shown)
- Insolvency (England and Wales) Rules 2016 2016 75 duties
- Companies Act 2006 2006 63 duties
- Insolvency Act 1986 1986 46 duties
- CCBSA 2014 2014 22 duties
- CAICEA 2004 2004 18 duties
What this Act requires
Sections that create concrete duties on businesses or carry penalties. Procedural and definitional sections are folded into the “Browse other sections” expander at the bottom of each group. Click any section title to read the source text on legislation.gov.uk.
Part 1 — Introduction
Browse 1 other section in this Part — procedural / definitional / commencement
Overview of the Corporation Tax Acts
Part 2 — Charge to corporation tax: basic provisions
Browse 14 other sections in this Part — procedural / definitional / commencement
Arrangements for avoiding tax
End of accounting period
Companies being wound up
Companies treated as non-UK resident under double taxation arrangements
Chargeable gains etc
Income arising from immovable property
Anti-diversion rule
The low profit margin exemption
The tax exemption
Streamed opening negative amounts: “matching”
Profits attributable to permanent establishment: introduction
Provision of goods or services for permanent establishment
Transfer of financial assets
Restriction on deductions: costs
Part 3 — Trading income
Replacement of animals in herd
- Account for costs and receipts when replacing herd animals Trader
Information if election made
Amended 1 timeDividends etc granted by registered societies
Amended 1 timeExtent of charge to tax
Amended 1 timeBrowse 59 other sections in this Part — procedural / definitional / commencement
Charge to tax on trade profits
Commercial occupation of woodlands
Profits of mines, quarries and other concerns
Effect of company starting or ceasing to be within charge to corporation tax
Caravan sites where trade carried on
Payments for wayleaves
Losses calculated on same basis as profits
Money's worth
Animals kept for trade purposes
Relationship between rules prohibiting and allowing deductions
Expenses not wholly and exclusively for trade and unconnected losses
Car ... hire
Hiring cars (but not motor cycles) with low CO 2 emissions before 1 April 2013
Connected persons: application of section 56
Rental rebates
Tenants dealing with land as property employed for purposes of trade
Replacement and alteration of trade tools
Employees seconded to charities and educational establishments
Retraining courses: recovery of tax
Meaning of “local enterprise organisation”
Contributions to flood and coastal erosion risk management projects
Expenses of research and development
Deductions in relation to salaried members
Debts incurred and later released
Tax treatment of reverse premiums
Industrial development grants
s.104A
s.104B
s.104H
s.104N
s.104O
Other interpretative provisions
Sale of animals from herd
Five year gap in which no production herd kept
Slaughter under disease control order
Adjustment: cessation of trading
Interpretation
Conversion etc of securities held as circulating capital
Incidental costs of issuing qualifying shares
Companies affected by section 133A: amounts treated as received
The disclosure condition
“Excluded company”
Mineral exploration and access
Deduction for deemed employment payment
Intermediaries providing worker's services to public authority or medium or large client
Allowable deductions: niches
Allowable deductions: inscriptions
Allocation of expenditure
Reserves of marketing authorities and certain other statutory bodies
Interpretation of sections 153 and 154
Meaning of “trading stock”
Sale basis of valuation: sale to connected person
Meaning of “sale” and related expressions
Cases where adjustment not required until assets realised or written off
Change from realisation basis to mark to market
Charge to tax on post-cessation receipts
Transfer of trading stock
Further rules about allowable deductions
Deductions already made are not displaced
Part 4 — Property income
Activities not for generating income from land
Amended 1 timeCharge to tax on profits of a property business
Amended 1 timeProfits of a property business: application of trading income rules
Amended 6 timesMeaning of “eligible” in relation to a dwelling-house
Amended 1 timeEffect of wear and tear allowance election
Amended 1 timeUnder-used holiday accommodation: averaging elections
Amended 3 timesCapital allowances and loss relief: overseas property business
Amended 3 timesOther rules about what counts as a “post-cessation receipt”
Amended 1 timeBrowse 21 other sections in this Part — procedural / definitional / commencement
Meaning of “property business”
Items treated as receipts and expenses
Certain amounts brought into account under Part 3
Lease premiums
Amount treated as lease premium where work required
Sums payable instead of rent
Sums payable for surrender of lease
Sums payable for variation or waiver of terms of lease
Sums to which sections 217 to 221 do not apply
Deductions for expenses under section 232
Payment of tax by instalments
Rules for determining effective duration of lease
Interpretation
Regulations
Giving effect to positive and negative adjustments
Charge to tax on rent receivable in connection with a UK section 39(4) concern
Meaning of “rent receivable in connection with a UK section 39(4) concern”
Charge to tax on rent receivable for a UK electric-line wayleave
Extent of charge to tax
Allowable deductions
Election to carry back
Part 5 — Loan Relationships
Method of bringing non-trading deficits into account
- Account for non-trading deficits from loan relationships Trader
Calculation of non-trading profits and deficits from loan relationships: non-trading credits and debits
Amended 3 timesOverview of Chapter
Amended 4 timesPower to make regulations about recognised amounts
Amended 5 timesBasis of accounting: “amortised cost basis”, “fair value accounting” and “fair value”
Amended 12 timesChange of accounting basis following cessation of loan relationship
Amended 6 timesCredits and debits treated as relating to capital expenditure
Amended 3 timesHybrid capital instruments: amounts recognised in equity
Amended 3 timesSubstantial modification: cases where credits not required to be brought into account
Amended 2 timesWriting off government investments
Amended 2 timesMeaning of “relevant exchange gain” and “relevant exchange loss”
Amended 12 timesCompany ceasing to be party to loan relationship
Amended 1 timeIntroduction to Chapter
Amended 3 timesThe debt-for-debt exception
Amended 5 timesThe equity-for-debt exception
Amended 5 timesArrangements for avoiding section 361 or 362
Amended 5 timesLending between partners and the partnership
Amended 2 timesTreatment of exchange gains and losses
Amended 1 timeBasic rule: deficit set off against income and gains of deficit period
Amended 1 timeMeaning of “available profits”
Amended 8 timesPostponement until redemption of debits for connected companies' deeply discounted securities
Amended 7 timesSection 418: supplementary
Amended 2 timesProcedure on application for clearance
Amended 4 timesDecision on application for clearance
Amended 4 timesOther duties (1) — Crown / regulator
- HMRC must decide on tax clearance applications within 30 days Statutory regulator
Introduction to Chapter
Amended 8 timesTransfer of loan relationship at notional carrying value
Amended 2 timesInterpretation
Amended 4 timesTransactions not at arm's length: general
Amended 2 timesBringing into account adjustments made under Part 4 of TIOPA 2010
Amended 6 timesExchange gains and losses on debtor relationships: loans disregarded under Part 4 of TIOPA 2010
Amended 6 timesExchange gains and losses on debtor relationships: equity notes where holder associated with issuer
Amended 2 timesExchange gains and losses where loan not on arm's length terms
Amended 21 timesConnected parties deriving benefit from creditor relationships
Amended 1 timeDisposals for consideration not fully recognised by accounting practice
Amended 2 timesCounteracting effect of avoidance arrangements
Amended 2 timesInterpretation of section 455B
Amended 2 timesBasic rule for deficits: carry forward to accounting periods after deficit period
Amended 4 timesClaim to set off deficit against profits of deficit period or earlier periods
Amended 3 timesClaim to set off deficit against profits for the deficit period
Amended 3 timesCarry forward of unrelieved deficit against total profits
Amended 3 timesPriority of this Part for corporation tax purposes
Amended 13 timesCompanies connected for an accounting period
Amended 2 timesMeaning of “hybrid capital instrument”
Amended 1 timeBrowse 16 other sections in this Part — procedural / definitional / commencement
Overview of Part
“Money debt”
Companies without GAAP-compliant accounts
Power to make regulations about changes from amortised cost basis
Disallowance of imported losses etc
Meaning of company replacing another as party to loan relationship
Introduction: meaning of “connected companies relationship”
Exception to section 354: swapping debt for equity
Determinations of credits and debits by company partners: general
Credit unions
Gilt strips
Meaning of “strip”
Restriction on deductions etc relating to FOTRA securities
Tax avoidance etc
Connection between companies to be ignored in some circumstances
Creditors who are financial traders
Part 6 — Relationships treated as loan relationships etc
Overview of Part
Amended 3 timesRelevant non-lending relationships involving discounts
Amended 3 timesOverview
Amended 2 timesExcluded shares
Amended 2 timesHolding coming within section 490: calculation to undo avoidance
Amended 1 time- Adjust corporation tax to counteract tax avoidance from fund holdings Trader
Provision not at arm's length: exclusion of arrangements from sections 503 to 507
Amended 3 timesDiminishing shared ownership arrangements
Amended 7 timesDiminishing shared ownership arrangements: further provision in respect of refinancing
Amended 1 timeInvestment bond arrangements: other provisions
Amended 6 timesShares becoming or ceasing to be shares to which section 521B applies
Amended 1 timeIntroduction to Chapter
Amended 1 timeMeaning of securities and similar securities
Amended 8 timesIntroduction to Chapter
Amended 2 timesMeaning of “investment life insurance contract”
Amended 1 timeBrowse 14 other sections in this Part — procedural / definitional / commencement
Meaning of “qualifying investments”
Exclusion of interest where failure to make return
Application of Part 5: general
Treatment of bond-holder under investment bond arrangements
Application of Part 5 to certain shares as rights under creditor relationship
Regulations about income-producing assets
The redemption return condition
Power to change conditions for non-qualifying shares
Introduction to Chapter
Meaning of creditor repo
Ignoring effect on lender etc of sale of securities
Power to modify this Chapter
Gains on deemed surrenders to be brought into account on related transactions
Restriction on credits on old contracts: fair value accounting cases
Part 7 — Derivative contracts
“Contract for differences”
Amended 1 timeGeneral principles about the bringing into account of credits and debits
Amended 3 timesExchange gains and losses
Amended 15 timesCompany is not, or has ceased to be, party to derivative contract
Amended 2 timesDebits referable to times before UK property business etc carried on
Amended 2 timesCompany ceasing to be party to derivative contract
Amended 1 timeGroup member replacing another as party to derivative contract
Amended 6 timesTransferor using fair value accounting
Amended 3 timesCreditor relationships: embedded derivatives which are options
Amended 2 timesProperty based total return swaps
Amended 3 timesShares issued or transferred as a result of exercise of deemed option
Amended 1 timeMeaning of “relevant credits” and “relevant debits”
Amended 1 timeMeaning of G, L and CV in section 672
Amended 1 timeIntroduction to Chapter
Amended 6 timesDisapplication of Chapter where transparent entities involved
Amended 1 timeBringing into account adjustments under Part 4 of TIOPA 2010
Amended 5 timesBrowse 21 other sections in this Part — procedural / definitional / commencement
Profits and losses to be calculated using credits and debits given by this Part
Trading credits and debits to be brought into account under Part 3
“Relevant contract”
Relevant contracts of a company and being party to such contracts
“Underlying subject matter”
Other contracts with embedded derivatives
Disregard of subordinate or small value underlying subject matter
Contracts where part of underlying subject matter is excluded property
Contract which is or forms part of financial asset or liability
Contract becoming one relating to holding in OEIC, unit trust or offshore fund
Election for section 616 not to apply
Determination of credits and debits by company partners
Derivative contracts to be taxed on a chargeable gains basis
Exclusions from section 645
Meaning of “exactly tracking contract” in section 656
Contract relating to holding in OEIC, unit trust or offshore fund
Contracts to which section 641 applies
Meaning of certain expressions in section 663
Shares acquired on running of future to delivery
Power to amend some provisions
“Securities house”
Part 8 — Intangible fixed assets
“Intangible asset”
Amended 3 timesApplication of this Part to goodwill
Amended 4 timesNegative goodwill
- Account for tax on negative goodwill from business acquisitions Trader
Writing down at fixed rate: calculation
Amended 1 time- Calculate tax deductions for intangible assets using the fixed-rate method Trader
Abortive expenditure on realisation
Amended 1 time“Non-trading credits” and “non-trading debits”
Amended 6 timesTreatment of non-trading losses
Amended 6 timesRelief on realisation and reinvestment: application to group member
Amended 1 timeDeemed realisation and reacquisition at market value
Amended 5 timesFurther requirements about elections under section 792
Amended 6 timesIntroduction
Amended 3 timesTransfer of assets on European cross-border transfer of business
Amended 3 timesInterpretation of sections 821 and 822
Amended 3 timesOverview of Chapter
Amended 4 timesTransfer between company and related party treated as at market value
Amended 7 timesFurther provision about regulations under section 854
Amended 1 timeFungible assets
Amended 2 timesAsset becoming chargeable intangible asset
Amended 2 timesAsset becoming chargeable intangible asset: EU exit charge
Amended 2 timesAssumptions for calculating chargeable profits
Amended 2 timesCertain assets acquired on transfer of business or transfer within a group
Amended 3 timesWhen an intangible fixed asset is a restricted asset: the first case
Amended 1 timeSpecial rule: section 900C or 900D case
Amended 1 timeMeaning of “relieving acquisition”
Amended 1 timeEffect of application of the I - E basis: non-trading amounts
Amended 1 timeBrowse 30 other sections in this Part — procedural / definitional / commencement
Introduction
References to expenditure on an asset
Apportionment in case of part realisation
Realisation of assets previously subject to Northern Ireland rate
Introduction
Assets held for purposes of mines, transport undertakings, etc
Assets held for purposes falling within more than one section
The relief: the “old asset” and “other assets”
Determination of appropriate proportion of cost and adjusted cost
General rule: a company and its 75% subsidiaries form a group
Rules that apply to cases within section 778(1)
Right to dispose of or acquire excluded asset also excluded
Rights in companies, trusts etc
Transfer of business of building society to company
Application of sections 780 and 785 where transfer within section 824 occurs
Exclusion from section 829 of group transfers
Rights and powers held jointly
Grant of licence or other right treated as at market value
Grants involving other taxes
Restrictions in a case within section 849B(6)
Asset ceasing to be chargeable intangible asset: postponement of gain
Treatment of postponed gain on subsequent realisation
Bad debts etc
Election for fixed-rate writing down in relation to resulting asset
Requirement to write down at a fixed rate
Pre-FA 2019 relevant asset: the first case
Pre-FA 2019 relevant asset: the third case
Pre-FA 2019 relevant asset: the fourth case
Meaning of qualifying IP asset
Pre-FA 2002 assets: Lloyd's syndicate capacity
Part 9 — Intellectual property: know-how and patents
Browse 6 other sections in this Part — procedural / definitional / commencement
Winding up of a body corporate
Adjustments where tax has been deducted
Rights to acquire future patent rights
Relief for expenses: patent income
Contributions not made by public bodies nor eligible for tax relief
Questions about apportionments affecting two or more persons
Part 9A — Company distributions
Browse 4 other sections in this Part — procedural / definitional / commencement
Distributions from controlled companies
Dividends in respect of shares accounted for as liabilities
Schemes in the nature of loan relationships
Chargeable gains
Part 10 — Miscellaneous income
Overview of Part
Amended 2 timesCharge to tax on estate income
Amended 2 timesMeaning of “UK estate” and “foreign estate”
Amended 3 timesPower to obtain information from personal representatives and beneficiaries
Amended 1 timeCharge to tax under this Chapter
Amended 4 timesOverview of Chapter
Amended 1 timeBrowse 8 other sections in this Part — procedural / definitional / commencement
Discretionary interests in residue
Absolute interests
Introduction
Holders of limited interests
Basic amount of estate income: successive limited interests
Apportionments
Meaning of “the relevant tax year”
Transfers of assets etc treated as payments
Part 11 — Relief for particular employee share acquisition schemes
Part 12 — Other relief for employee share acquisitions
Groups, consortiums and commercial associations of companies
Amended 1 timeConditions relating to employee's income tax position
Amended 5 timesConditions relating to shares acquired
Amended 3 timesCondition relating to employee's income tax position
Amended 1 timeCalculation of relief if shares are restricted or convertible
Amended 2 timesTakeover of company whose shares are subject to option
Amended 2 timesApplication of Chapter where original relief a consequence of section 1007A, 1015A or 1015B
Amended 1 timeRelief available on death of employee
Amended 2 timesMeaning of “chargeable event”
Amended 1 timeRelief available on occurrence of chargeable event
Amended 2 timesExclusion of deductions for share options: shares not acquired
Amended 1 timeEmployee shareholder shares
Amended 1 timeBrowse 4 other sections in this Part — procedural / definitional / commencement
Overview of Part
Overview of Chapter
Application of Chapter where original relief a consequence of section 1007A, 1015A or 1015B
Transfer of qualifying business by group transfers
Part 13 — ... expenditure on research and development
No overlapping claims under Chapters 1A and 2
Amended 1 time“Relevant research and development”
Amended 2 timesClaiming the credit
Amended 2 timesPercentage of qualifying expenditure translated into credit
Amended 2 timesTreatment of deduction to comply with PAYE and NIC limit
Amended 2 timesRequirement to make a claim notification
Amended 12 timesQualifying expenditure: payments for contracted out R&D
Amended 3 timesQualifying expenditure: activity as contractor for irrelievable client
Amended 3 timesTax credit only available where company is going concern
Amended 5 timesAmount of tax credit
Amended 14 timesRelevant expenditure on workers
Amended 14 timesTotal amount of company's PAYE and NIC liabilities
Amended 4 timesExpenditure on sub-contracted R&D not undertaken in-house
Amended 1 timeSubsidised qualifying expenditure on contracted out R&D
Amended 3 timesAdditional deduction in calculating profits of trade
Amended 2 timesQualifying expenditure on in-house direct R&D
Amended 1 time...
Amended 2 timess.1083
Amended 3 timesOverview of Chapter
Amended 7 timesDeduction in calculating profits of trade
Amended 8 timesSMEs: deemed trading loss for pre-trading expenditure
Amended 3 timesTreatment of deemed trading loss under section 1092
Amended 4 timesSMEs: qualifying expenditure “for” an accounting period
Amended 1 timeQualifying expenditure “for” an accounting period
Amended 1 timeMeaning of “Chapter 7 surrenderable loss”
Amended 1 timeAmount of trading loss which is “unrelieved”
Amended 5 timesTax credit only available where company is going concern
Amended 1 timeTotal amount of company's PAYE and NIC liabilities
Amended 3 timesOverview of Chapter
Amended 5 timesCap by reference to PAYE and NIC liabilities
Amended 5 timesEnterprise treated as an SME where related enterprise becomes large
Amended 2 times“Staffing costs”
Amended 3 timesQualifying expenditure on externally provided workers: connected persons
Amended 13 times“Qualifying earnings”
Amended 1 timeQualifying element of contractor payment: connected persons
Amended 16 times“Subsidised expenditure”
Amended 3 timesExempt foreign permanent establishments
Amended 3 times“R&D claim”
Amended 5 timesRight to payment of credit inalienable
Amended 5 timesBrowse 6 other sections in this Part — procedural / definitional / commencement
Part 14 — Remediation of contaminated or derelict land
“Qualifying land remediation expenditure”
Amended 7 timesExclusion of nuclear sites
Amended 1 time“Relevant derelict land remediation”
Amended 7 timesRestriction on losses carried forward where tax credit claimed
Amended 9 timesAdditional relief
Amended 3 timesRestriction on carrying forward expenses payable where tax credit claimed
Amended 5 timesConnected sub-contractors
Amended 5 timesBrowse 2 other sections in this Part — procedural / definitional / commencement
Tax credit payment not income of company
“Staffing costs”
Part 14A — Films, television programmes and video games
Qualifying companies and productions
Amended 2 timesElection to tax qualifying production as separate trade
Amended 2 timesWhen costs are to be taken as incurred
Amended 2 timesNo credit payable if company in administration or liquidation
Amended 2 timesTheatrical release condition
Amended 2 timesCategories of qualifying programme
Amended 2 timesBroadcast condition
Amended 2 timesTelevision programmes: certification and revocation
Amended 2 timesExpenditure that qualifies for credit
Amended 2 timesExcluded expenditure: research and development and unpaid amounts
Amended 2 timesExcluded expenditure: non-arm’s-length dealings with connected parties
Amended 2 timesPercentage of qualifying expenditure translated into credit
Amended 2 timesWhen the separate trade begins
Amended 2 timesAccounting periods
Amended 2 timesApplication of Chapters 2 and 3 to video games
Amended 2 timesDisclosure of information for certification purposes
Amended 2 timesMeaning of “core expenditure”
Amended 2 timesExcluded expenditure: non-arm’s-length dealings with connected parties
Amended 2 timesWhen the separate trade begins
Amended 2 timesMeaning of “development activities”
Amended 2 timesPart 15 — Film production
Estimates
- Use fair and reasonable estimates for film tax calculations Director or Officer
Availability and overview of film tax relief
Amended 7 timesBritish film
Other duties (1) — Crown / regulator
- Secretary of State must certify films as British for tax relief Crown / Minister / Government department
Film tax credit claimable if company has surrenderable loss
Amended 7 timesUse of losses in later periods
Amended 10 timesTerminal losses
Amended 10 timesCertification as a British film
- Obtain British film certification to claim tax relief Trader
Browse 7 other sections in this Part — procedural / definitional / commencement
“Film production company”
“Film-making activities” etc
Activities of film production company treated as a separate trade
Calculation of profits or losses of separate film trade
Additional deduction for qualifying expenditure
No account to be taken of amount if unpaid
Time limit for amendments and assessments
Part 15A — Television production
UK expenditure
- Ensure at least 10% of TV production expenditure is spent in the UK Trader
Payment in respect of television tax credit
Other duties (1) — Crown / regulator
- HMRC must pay television tax credits and may offset them against tax debt Statutory regulator
The UK expenditure condition
- Report and monitor UK expenditure for television tax relief Trader
Browse 9 other sections in this Part — procedural / definitional / commencement
“Television programme”
“Qualifying co-production” and “co-producer”
“Company tax return”
Calculation of profits or losses of separate programme trade
Intended for broadcast
Amount of additional deduction
Television tax credit claimable if company has surrenderable loss
No account to be taken of amount if unpaid
Application of sections 1216DA and 1216DB
Part 15B — Video games development
Browse 12 other sections in this Part — procedural / definitional / commencement
Overview of Part
Video games development company
“Core expenditure”
Income from the video game
When costs are taken to be incurred
British video game
Additional deduction for qualifying expenditure
Confidentiality of information
Wrongful disclosure
Use of losses in later periods
Terminal losses
Certification as a British video game
Part 15C — Theatrical Productions
Clawback of provisional relief
2 years imprisonment- Correct tax returns if Theatre Tax Relief conditions are not met Trader
Browse 9 other sections in this Part — procedural / definitional / commencement
Productions not regarded as theatrical
How a company qualifies for relief
The UK expenditure condition
Claim for additional deduction
When costs are taken to be incurred
No claim if company in administration or liquidation
Application of sections 1217MA to 1217MC
Use of losses in the completion period
Terminal losses
Part 15D — Orchestra tax relief
Clawback of provisional relief
- Report and correct Orchestra Tax Relief if UK spending targets are missed Trader
Browse 5 other sections in this Part — procedural / definitional / commencement
“Orchestral concert”
When costs are taken to be incurred
Overview of orchestra tax relief
Companies qualifying for orchestra tax relief
Provisional entitlement to relief
Part 15E — Museums and galleries exhibition tax relief
Clawback of provisional relief
- Correct tax returns if museum exhibition tax relief conditions are not met Trader
Browse 8 other sections in this Part — procedural / definitional / commencement
“Touring exhibition”
Primary production company
When costs are taken to be incurred
Interpretation of section 1218ZCA(3)(b) and (c)
The UK expenditure condition
Amount of surrenderable loss
Restriction on use of losses before completion period
Use of losses in the completion period
Part 16 — Companies with investment business
Expenses of management of a company's investment business
Amended 5 timesException for basic life assurance and general annuity business
Amended 9 timesExcess capital allowances
Amended 4 timesEmployees seconded to charities and educational establishments
Amended 1 timeBrowse 7 other sections in this Part — procedural / definitional / commencement
Overview of Part
Management expenses in relation to salaried members of limited liability partnerships
Credits that reverse debits
Chapter applies to amounts not otherwise relieved
Payroll deduction schemes
Payments to Export Credits Guarantee Department
Introduction
Part 17 — Partnerships
Allocation of firm's profits or losses between partners
Amended 7 timesInterpretation of sections 1267 and 1268
Amended 1 timeLimited liability partnerships
Amended 2 timesLimited liability partnerships: salaried members
Amended 2 timesBrowse 3 other sections in this Part — procedural / definitional / commencement
Bare trusts
Sale of patent rights: effect of partnership changes
Sale of patent rights: effect of later cessation of trade
Part 18 — Unremittable income
Browse 2 other sections in this Part — procedural / definitional / commencement
Part 19 — General exemptions
Browse 2 other sections in this Part — procedural / definitional / commencement
Part 20 — General calculation rules
Making of “employee benefit contributions”
Amended 4 timesBusiness entertainment and gifts
Amended 1 timePenalties , interest and VAT surcharges and interest
Amended 6 times- Claim tax deductions for tax penalties or interest Any Person
Crime-related payments
Amended 1 timeApportionment etc of miscellaneous profits and losses to accounting period
Amended 2 timesBrowse 2 other sections in this Part — procedural / definitional / commencement
Part 21 — Other general provisions
Browse 4 other sections in this Part — procedural / definitional / commencement
Power to make consequential provision
Power to undo changes
Index of defined expressions
Short title
Schedules
Browse 2 other Schedules — structural / supplementary
Official guidance
Authoritative sources published by regulators or government explaining this legislation.
- R&D advance assurance (opens in a new tab) Detailed Guidance
- Guidelines on what constitutes R&D (opens in a new tab) Publication
- R&D additional information form (opens in a new tab) Detailed Guidance
- Your company's UTR (opens in a new tab) Detailed Guidance
- Corporation Tax accounting periods (opens in a new tab) Detailed Guidance
- File your Company Tax Return (opens in a new tab) Detailed Guidance
- First-year allowances (opens in a new tab) Detailed Guidance
- Writing down allowances (opens in a new tab) Detailed Guidance
- Full expensing guidance (opens in a new tab) Detailed Guidance
- Annual Investment Allowance (opens in a new tab) Detailed Guidance
- ... and 7 more
Enforcement and responsible bodies
The regulators that administer or enforce this legislation.
HM Revenue & Customs
Tax collection, customs duties, national insurance, tax credits, and enforcement of the National Minimum Wage. Regulates all UK businesses for tax compliance …
Explore more
Browse legislation
Find other UK business legislation with related guidance.
Regulators
Learn more about the bodies that enforce this legislation.