408. Exemption Of Distributions Received By Companies That Are Not Small. | Taxation Law | LexisNexis

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408. Exemption of distributions received by companies that are not small.

A dividend or other distribution¹ of a company² that is received in an accounting period³ of the recipient⁴ in which the recipient is not a small company⁵ is exempt if:

(1) the distribution falls into an exempt class⁶,
(2) the distribution is not of a specified kind⁷ in respect of non-commercial or special securities; and

(10) Company Distributions Etc

406. Corporation tax charge on distributions received.

407. Exemption of distributions received by small companies.

408. Exemption of distributions received by companies that are not small.

409. Distributions from controlled companies.

410. Distributions in respect of non-redeemable ordinary shares.

411. Distributions in respect of portfolio holdings.

412. Distributions derived from transactions not designed to reduce tax.

413. Dividends in respect of shares accounted for as liabilities.

414. Exclusions from exempt classes.

415. Election that distribution should not be exempt.

416. Charge to tax.

417. Returns for certain distributions.

418. Tax certificates.

419. Taxation of non-UK resident recipients of certain distributions.

420. Exempt distributions.

421. Purchase by unquoted trading company of own shares.