Point in time view as at 01/04/2010.
Corporation Tax Act 2010, Section 1025 is up to date with all changes known to be in force on or before 23 June 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)This section applies if—
(a)share capital is issued at a premium representing new consideration, and
(b)a distribution is made in respect of shares representing the share capital.
(2)The amount of the premium is treated as forming part of the share capital for the purpose of determining under this Chapter whether the distribution is a repayment of share capital.
(3)Subsection (2) does not have effect in relation to any part of the premium after that part has been applied to paying up share capital.
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