Corporation Tax Act 2010(c. 4) - Explanatory Notes

Explanatory Notes

Corporation Tax Act 2010

2010 CHAPTER 4

3 March 2010

Introduction

Part 15: Transactions in securities

Sections 731 to 734: Overview of Part; meaning of “corporation tax advantage”; company liable to counteraction of corporation tax advantages; exception where no tax avoidance object shown

2260. These sections introduce the Part and provide definitions of “corporation tax advantage” and the company liable to counteraction. They are based on sections 703(1) and (2) and 709(1) and (2A) of ICTA.

2261. Except as noted in the Overview above, these sections replicate exactly sections 682 to 685 of ITA.