Introduction Details of the Schedule Part 1 – Insertion of new Part 9A of CTA 2009
5.This Part of the Schedule includes only one paragraph, which introduces a new Part 9A to CTA. Part 9A replaces the existing rules that tax foreign dividends and that give exemption for UK distributions. Part 9A is divided into four Chapters. The first Chapter establishes a charge to corporation tax on income distributions received from UK or foreign companies. Chapter 2 sets out the conditions for a distribution received by a small company to be exempt from corporation tax and Chapter 3 does the same for large or medium–sized companies. Chapter 4 includes interpretation provisions.