Commentary

D7.321 Significant increase in company capital

Corporate tax
Corporate tax | Commentary

D7.321 Significant increase in company capital

Corporate tax | Commentary

D7.321 Significant increase in company capital

For this purpose the capital of a company (to be expressed in sterling and rounded up to the nearest pound) consists of the total of the following1:

  1.  

    (a)     the amount of its paid up share capital (including any amount in the share premium account)

  2.  

    (b)     the amount of any debt incurred for money borrowed or capital assets acquired by the company

  3.  

    (c)     the amount of any debt incurred for a right to receive income created in favour of the company

  4.  

    (d)     the amount of any debt incurred for a consideration the value of which was (at the time it was incurred) substantially less than the

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