Introduction Details of the Schedule Part 1 – Insertion of new Part 9A of CTA 2009 Chapter 1 of Part 9A of CTA
6.Section 931A establishes that in principle UK and foreign distributions are subject to corporation tax on income, unless they are exempt according to the rules given later in the Part.
7.Subsection (2) limits the scope of the Part by excluding distributions of a capital nature. Capital distributions will continue to be taxed or exempt according to the rules applying to chargeable gains and are unaffected by this legislation.