Commentary

D7.1310 Sundry provisions modifying the Corporation Tax Acts

Corporate tax
Corporate tax | Commentary

D7.1310 Sundry provisions modifying the Corporation Tax Acts

Corporate tax | Commentary

D7.1310 Sundry provisions modifying the Corporation Tax Acts

Specific provisions modify the corporation tax acts to ensure the securitisation regime applies as intended. These include the following:

  1.  

    (a)     CTA 2009, s 10(1) (end of accounting period; see D1.108) is amended so that an accounting period of a company comes to an end on the company becoming or ceasing to be a securitisation company to which SI 2006/3296, reg 14 applies1

  2.  

    (b)     CTA 2010, s 1000(1) (meaning of distribution; see Division D5.1) is disapplied so that only dividend payments by a securitisation company constitute 'distributions' for the purposes of the Corporation Tax

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