Explanatory Notes

Corporation Tax Act 2010

2010 CHAPTER 4

3 March 2010

Introduction

Part 23: Company distributions

Chapter 4: Special rules for distributions made by certain companies
Section 1065: Exception for benefits treated as employment income etc

3114.This section sets out the first circumstance where section 1064 does not apply. It is based on section 418(3) of ICTA.

3115.The exceptions are set out in a table. The exceptions arise where the participator is also an employee within the benefit in kind rules of ITEPA (the benefits in kind rules apply instead), or in the case of certain death or retirement benefits for dependents of participators.