Commentary

D9.110 The prescribed circumstances—general

Corporate tax
Corporate tax | Commentary

D9.110 The prescribed circumstances—general

Corporate tax | Commentary

D9.110 The prescribed circumstances—general

These provisions apply for corporation tax purposes. For details of the income tax regime see D9.116A–D9.119.

Counteraction can only be taken where a tax advantage (see D9.103) is obtained in one of the Circumstances described in D9.113–D9.115. These fall into the following categories:

  1.  

    (a)     Circumstance C: receipt of consideration representing company's assets, future receipts or trading stock , see D9.113;

  2.  

    (b)     Circumstance D: extraction of funds from a company, see D9.114; or

  3.  

    (c)     Circumstance E: consideration on the form of company shares or securities, see D9.115.

If

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