Modifications etc. (not altering text)
C1Pt. 5 applied (with effect in accordance with Sch. 24 paras. 13-16 of the amending Act) by Finance Act 2009 (c. 10), Sch. 24 para. 15(2)(3)
C2Pt. 5 applied (with modifications) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 990(5), 1184(1) (with Sch. 2)
C3Pt. 5 modified (15.11.2011 for specified purposes, 30.3.2012 for E.W.) by Localism Act 2011 (c. 20), ss., 240(5)(o), Sch. 24 para. 5; S.I. 2012/628, art. 3(b)
C4Pt. 5 modified (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 4 para. 2; S.I. 2011/2576, art. 5
(1)The amounts which are brought into account in accordance with this Part in respect of any matter are the only amounts which may be brought into account for corporation tax purposes in respect of it.
(2)Subsection (1) is subject to any express provision to the contrary.
(3)For further provisions relating to the rule in this section, see in particular—
(a)section 445(2) (disapplication of section 444 where [F1Part 4 of TIOPA 2010] applies),
(b)section 465 (exclusion of distributions except in tax avoidance cases),
(c)section 700 (relationship of Part 7 to this Part),
(d)[F2section 96(4) of CTA 2010] (write-off of government investment),
(e)[F3sections 286 [F4to 287A] of CTA 2010 (oil] activities: loan relationships),
(f)[F5section 31(5) of TIOPA 2010] (computation of income subject to foreign tax),
(g)[F6section 112(5) of TIOPA 2010] (deduction for foreign tax where no credit available),
(h)F7... and
(i)[F8section 640(2) of CTA 2010] (banks etc in compulsory liquidation: taxation of certain receipts).
(4)See also the following sections (under which amounts prevented from being brought into account under this Part are treated as if they were so brought into account for the purposes of this section)—
(a)section 327(5) and (6) (disallowance of imported losses etc), F9...
(b)section 441(4) and (5) (loan relationships for unallowable purposes) [F10, and
(c)section 455A(3) (debits arising from derecognition of creditor relationships).]
Textual Amendments
F1Words in s. 464(3)(a) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 138 (with Sch. 9 paras. 1-9, 22)
F2Words in s. 464(3)(d) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 622(a) (with Sch. 2)
F3Words in s. 464(3)(e) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 622(b) (with Sch. 2)
F4Words in s. 464(3)(e) substituted (with effect in accordance with s. 87(3) of the amending Act) by Finance Act 2013 (c. 29), s. 87(2)
F5Words in s. 464(3)(f) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 90(a) (with Sch. 9 paras. 1-9, 22)
F6Words in s. 464(3)(g) substituted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 90(b) (with Sch. 9 paras. 1-9, 22)
F7S. 464(3)(h) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 158
F8Words in s. 464(3)(i) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 622(c) (with Sch. 2)
F9Word in s. 464(4)(a) omitted (19.7.2011) (with effect in accordance with Sch. 4 para. 13 of the amending Act) by virtue of Finance Act 2011 (c. 11), Sch. 4 para. 6
F10S. 464(4)(c) and word inserted (19.7.2011) (with effect in accordance with Sch. 4 para. 13 of the amending Act) by Finance Act 2011 (c. 11), Sch. 4 para. 6
Modifications etc. (not altering text)
C6S. 464(1) excluded (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 96(4), 640, 1184(1) (with Sch. 2)