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Income and Corporation Taxes Act 1988

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Income and Corporation Taxes Act 1988, Cross Heading: Taxation of income is up to date with all changes known to be in force on or before 19 March 2024. 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. Help about Changes to Legislation

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Revised legislation carried on this site may not be fully up to date. Changes and effects are recorded by our editorial team in lists which can be found in the ‘Changes to Legislation’ area. Where those effects have yet to be applied to the text of the legislation by the editorial team they are also listed alongside the legislation in the affected provisions. Use the ‘more’ link to open the changes and effects relevant to the provision you are viewing.

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Changes and effects yet to be applied to the whole Act associated Parts and Chapters:

Whole provisions yet to be inserted into this Act (including any effects on those provisions):

  • s. 109A(4B) inserted by 2005 c. 7 Sch. 4 para. 6(3) (This amendment not applied to legislation.gov.uk. The amending provision (2005 c. 7, Sch. 4 para. 6) repealed retrospectively by 2005 c. 22, Sch. 6 para. 4(1)(6))
  • Sch. 19AB para. 5(5)(a)(b) words substituted by S.I. 2001/3629 art. 52(2)(n) (This amendment not applied to legislation.gov.uk. The words to be substituted do not occur in Sch. 19AB para. 5)

Taxation of incomeU.K.

337 Company beginning or ceasing to carry on tradeU.K.

F1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1S. 337 repealed (1.4.2009 with effect in accordance with s. 1329(1) of the repealing Act) by Corporation Tax Act 2009 (c. 4), Sch. 1 para. 103, Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)

[F2[F3337A Computation of company’s profits or income: exclusion of general deductionsU.K.

(1)F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]]

Textual Amendments

F3S. 337A inserted (with effect in accordance with s. 105(1) of the amending Act) by Finance Act 1996 (c. 8), Sch. 14 para. 15 (with Sch. 15)

F4S. 337A(1) repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 23, Sch. 3 Pt. 1 (with Sch. 2)

F5S. 337A(2) repealed (1.4.2010 with effect in accordance with s. 381(1) of the repealing Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), Sch. 7 para. 37, Sch. 10 Pt. 12 (with Sch. 9)

338 Charges on income deducted from total profitsU.K.

F6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F6S. 338 repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 24, Sch. 3 Pt. 1 (with Sch. 2)

[F7338A Meaning of “charges on income"U.K.

F8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F7Ss. 338-338B substituted for s. 338 (24.7.2002) by Finance Act 2002 (c. 23), Sch. 30 para. 1(2)

F8S. 338A repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 25, Sch. 3 Pt. 1 (with Sch. 2)

[F9338B Charges on income: annuities or other annual paymentsU.K.

F10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F9Ss. 338-338B substituted for s. 338 (24.7.2002) by Finance Act 2002 (c. 23), Sch. 30 para. 1(2)

F10S. 338B repealed (with effect in accordance with s. 38(7) of the repealing Act) by Finance (No. 2) Act 2005 (c. 22), Sch. 11 Pt. 2(7), Note

339 Charges on income: donations to charity.U.K.

F11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F11S. 339 repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 26, Sch. 3 Pt. 1 (with Sch. 2); and s. 339 amended (1.4.2010 with effect in accordance with art. 5(2) of the amending S.I.) by The Enactment of Extra-Statutory Concessions Order 2010 (S.I. 2010/157), arts. 1, 5(1)

[F12F13339A. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F12S. 339A inserted (in relation to accounting periods ending on or after 1 October 1990) by Finance Act 1990 (c. 29), s. 27(3)(4)

F13S. 339A repealed (in relation to accounting periods beginning on or after 19.3.1991) by Finance Act 1991 (c. 31), ss. 71(1)(3), 123, Sch. 19 Pt. V, Note 5; and s. 339A modified in its application to accounting periods beginning before 19.3.1991 and ending on or after that date by s. 71(4) of that repealing Act

F14340 Charges on income: interest payable to non-residents.U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F14S. 340 repealed (with effect in accordance with s. 105(1) of the repealing Act) by Finance Act 1996 (c. 8), Sch. 14 para. 17, Sch. 41 Pt. 5(3), Note (with Sch. 15)

F15341 Payments of interest etc. between related companies.U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F15S. 341 repealed (with effect in accordance with s. 105(1) of the repealing Act) by Finance Act 1996 (c. 8), Sch. 14 para. 17, Sch. 41 Pt. 5(3), Note (with Sch. 15)

342 Tax on company in liquidation.U.K.

F16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F16S. 342 repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 27, Sch. 3 Pt. 1 (with Sch. 2)

[F17342ATax on companies in administrationU.K.

F18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F17S. 342A inserted (with effect in accordance with Sch. 41 para. 5(1) of the amending Act) by Finance Act 2003 (c. 14), Sch. 41 para. 3

F18S. 342A repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 28, Sch. 3 Pt. 1 (with Sch. 2)

343 Company reconstructions without a change of ownership.U.K.

F19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F19S. 343 repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 29, Sch. 3 Pt. 1 (with Sch. 2)

[F20343ZATransfers of trade to obtain balancing allowancesU.K.

F21. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F20S. 343ZA inserted (with effect in accordance with s. 89(2) of the amending Act) by Finance Act 2008 (c. 9), s. 89(1)

F21S. 343ZA repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 30, Sch. 3 Pt. 1 (with Sch. 2)

[F22343ACompany reconstructions involving business of leasing plant or machineryU.K.

F23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F22S. 343A inserted (19.7.2007, the inserted subsections (2) and (3) having effect in accordance with Sch. 6 para. 1(3)-(5) of the amending Act) by Finance Act 2007 (c. 11), Sch. 6 para. 1(2)

F23S. 343A repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 31, Sch. 3 Pt. 1 (with Sch. 2)

344 Company reconstructions: supplemental.U.K.

F24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F24S. 344 repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 32, Sch. 3 Pt. 1 (with Sch. 2)

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