Introduction Overview
2954.This Part sets out what is and what is not a company distribution for the purposes of the Corporation Tax Acts. It rewrites Part 6 and section 418 of ICTA and elements of sections 477A, 486 and 490 of ICTA.
2955.The definition of “the Corporation Tax Acts” in the Interpretation Act 1978 refers to enactments relating to the taxation of company distributions and associated income tax provisions. Some income tax rules are included in this Act. But the income tax effect of some provisions (notably sections 249 and 252 of ICTA) are relocated in ITTOIA.
2956.Provisions of an administrative nature relating to specific aspects of distributions have been located alongside the provisions to which they relate. More general provisions about returns and information are in Chapter 6.
2957.The structure of the Part is as follows.
	Chapter 2 sets out what is treated as a distribution.
	Chapter 3 sets out what is not a distribution.
	Chapter 4 deals with certain special cases.
	Chapter 5 deals with demergers.
	Chapter 6 contains provisions about returns and information.
	Chapter 7 deals with tax credits in connection with distributions.
	Chapter 8 provides interpretation.