(1)In the application of the Corporation Tax Acts to Scotland—
“assignment” means assignation,
“estate in land” includes the land,
“mortgage” means—
a standard security, or
a heritable security, as defined in the Conveyancing (Scotland) Act 1924, but including a security constituted by ex facie absolute disposition or assignation, and
“surrender” includes renunciation.
(2)In the application of the Corporation Tax Acts to Scotland, any reference to property or rights being held on trust or on trusts is a reference to the property or rights being held in trust.
In the Corporation Tax Acts, a source of income is within the charge to corporation tax or income tax if that tax—
(a)is chargeable on the income arising from it, or
(b)would be so chargeable if there were any income arising from it,
and references to a person, or income, being within the charge to corporation tax or income tax are to be read in the same way.
(1)For the purposes of the Corporation Tax Acts dividends are to be treated as paid on the date when they become due and payable.
(2)Subsection (1) is subject to any provision to the contrary.
(1)Chapter 2 of Part 9 of ITA 2007 (which relates to settlements and trustees) applies for the purposes of the Corporation Tax Acts as it applies for the purposes of the Income Tax Acts.
(2)See (in particular)—
(a)section 466 of that Act, which explains what is meant by references to settled property, and
(b)sections 467 to 473 of that Act, which explain what is meant by references to a settlor in relation to a settlement.
The territorial sea of the United Kingdom is treated for the purposes of the Corporation Tax Acts as part of the United Kingdom.
(1)This section applies to all powers under the Corporation Tax Acts of the Treasury or the Commissioners for Her Majesty's Revenue and Customs to make orders or regulations, other than excluded powers.
(2)All powers under the following are excluded—
(a)ICTA (see instead section 828 of that Act),
(b)TCGA 1992 (see instead section 287 of that Act),
(c)CAA 2001 (see instead section 570B of that Act),
(d)Part 4 of FA 2004 (see instead section 282 of that Act),
(e)CTA 2009 (see instead section 1310 of that Act),
(f)TIOPA 2010 (see instead section [F1499] of that Act), F2...
(g)the following provisions of this Act—
(i)section 204(3) (markets in the United Kingdom on which shares or securities are dealt in), and
(ii)section 1150(1) (meaning of “investment transaction”)[F3, and
(h)Parts 2 and 3 of FA 2012.]
(3)Any power to which this section applies is exercisable by statutory instrument.
(4)Any statutory instrument containing any order or regulations made under a power to which this section applies is subject to annulment in pursuance of a resolution of the House of Commons.
(5)Subsection (4) does not apply in relation to any order or regulations made under—
(a)section 73A of FA 2004 (exemption for designated international organisations), or
(b)either of the following provisions of this Act—
(i)section 1120(2)(e) (designation of international organisations as banks), or
(ii)section 1180(2) (power to make transitional or saving provision in connection with the coming into force of this Act).
(6)Further, subsection (4) does not apply—
(a)if any other Parliamentary procedure is expressly provided to apply in relation to the order or regulations, or
[F4(b)if the order or regulations provide for any provision of the Corporation Tax Acts to come into force or have effect in accordance with the order or regulations.]
(7)Subsection (4) is also subject to any other provision to the contrary.
Textual Amendments
F1Word in s. 1171(2)(f) substituted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 10(4)(c)
F2Word in s. 1171(2)(f) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 230(a)
F3S. 1171(2)(h) and preceding word inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 230(b)
F4S. 1171(6)(b) substituted (with effect in accordance with s. 125(4) of the amending Act) by Finance Act 2015 (c. 11), s. 125(3)
Modifications etc. (not altering text)
C1S. 1171 excluded (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), s. 5(7)
C2S. 1171(4) excluded (26.3.2015) by Finance Act 2015 (c. 11), Sch. 13 para. 6(6)
C3S. 1171(4) excluded (26.3.2015) by Finance Act 2015 (c. 11), s. 29(10)
(1)Any apportionment to different periods which falls to be made under the Corporation Tax Acts is to be made on a time basis according to the respective lengths of the periods.
(2)Subsection (1) is subject to any provision to the contrary.
Modifications etc. (not altering text)
C4S. 1172 applied (with effect in accordance with s. 33(9)(10) of the amending Act) (18.11.2015) by Finance (No. 2) Act 2015 (c. 33), s. 33(12)
C5S. 1172 applied (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 194(5)(a)
(1)In the Corporation Tax Acts references to any provision to which this section applies are references to any provision listed in the following table, so far as the provision relates to corporation tax (but subject to any applicable limitation in subsection (3)).
(2)This is the table—
| Provisions of CTA 2009 | Description |
|---|---|
| Chapter 15 of Part 3 | Post-cessation receipts: trades |
| Chapter 7 of Part 4 | Rent receivable in connection with a UK section 39(4) concern |
| Chapter 8 of Part 4 | Rent receivable for UK electric-line wayleaves |
| Chapter 9 of Part 4 | Post-cessation receipts: UK property businesses |
| Section 752 | Non-trading gains on intangible fixed assets |
| Section 908 | Profits from disposals of know-how |
| Section 912 | Profits from sales of patent rights |
| Section 965(4) | Adjustments after the administration period |
| Chapter 8 of Part 10 | Income not otherwise charged |
| Section 986(4), so far as it relates to an amount treated as received under section 998(3) | Withdrawal of deductions if approval for share incentive plan withdrawn: non-trading cases |
| F5. . . | F5. . . |
| Section 1229 | Management expenses: claw back of relief |
| Section 1252 | Industrial development grants: companies with investment business |
| Section 1253 | Contributions to local enterprise organisations or urban regeneration companies: disqualifying benefits |
| Section 1254 | Repayments under FISMA 2000 |
| Section 1277(4) | Withdrawal of relief for unremittable foreign income after source ceases |
| Provisions of this Act | Description |
|---|---|
| Section 538(3) | Real estate investment trusts: entry charge |
| Section 636(1) | Banks etc in compulsory liquidation |
| Section 779(2) | Loan or credit transactions |
| F6. . . | F6. . . |
| Section 851(8) | Sale and lease-back: taxation of consideration |
| Section 874(1) | Leased assets: capital sums |
| Section 1086(2) | Chargeable payments connected with exempt distributions |
| Other provisions | Description |
|---|---|
| Section 56(2) of ICTA | Transactions in deposits |
| F7. . . | F7. . . |
| F8. . . | F8. . . |
| Section 571(1) of ICTA | Cancellation of tax certificates |
| Section 774(1) of ICTA | Transactions between dealing company and associated company |
| F9. . . | F9. . . |
| F10. . . | F10. . . |
| Section 256(2) of CAA 2001 | Life assurance business: capital allowances |
| Section 254(2) of TIOPA 2010 | Tax arbitrage: calculation or recalculation of income etc following receipt notice |
| Regulation 18(4) of the Offshore Funds (Tax) Regulations 2009 (S.I. 2009/3001) | Offshore income gains |
(3)The reference in Part 1 of the above table to Chapter 8 of Part 10 of CTA 2009 does not include that Chapter so far as relating to income which arises from a source outside the United Kingdom.
Textual Amendments
F5Words in s. 1173(2) omitted (with effect in accordance with Sch. 15 paras. 28, 29 of the amending Act) by virtue of Finance Act 2013 (c. 29), Sch. 15 para. 24(3)
F6Words in s. 1173(2) table omitted (with effect in accordance with s. 81 of the amending Act and and also with effect in accordance with Finance (No. 2) Act 2017 (c. 32), s. 39(1)(2)) by virtue of Finance Act 2016 (c. 24), s. 77(5)
F7S. 1173(2) entry omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 231(a)
F8S. 1173(2) entry omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 231(b)
F9S. 1173(2) entry omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 231(c)
F10S. 1173(2) entry omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 231(d)