Commentary

A1.137 Savings and investment income

Administration and compliance

A1.137 Savings and investment income

A1.137 Savings and investment income

ITTOIA 2005, Pt 4 deals with most cases of savings and investment income (and in particular interest, distributions and their foreign income equivalents; see Division E1.4.

The income is computed without any deduction. All interest receivable from loan relationships1 and non-trading foreign exchange and debt related profits (net of any losses) is chargeable to corporation tax. This legislation is now contained within CTA 2009, Pts 5 and 6.

The charge in respect of distributions extends to capital dividends and other distributions of companies resident in the UK. The term 'distribution' includes certain bonus issues of shares and

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