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Corporation Tax Act 2010
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1025Share capital issued at a premium representing new consideration
This section has no associated Explanatory Notes
(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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