http://www.legislation.gov.uk/ukpga/2010/4/section/1Corporation Tax Act 2010An Act to restate, with minor changes, certain enactments relating to corporation tax and certain enactments relating to company distributions; and for connected purposes.texttext/xmlenStatute Law Database2026-05-20Expert Participation2026-03-18 Part 1IntroductionOverview of Act11Part 2 is about calculation of the corporation tax chargeable on a company's profits, in particular—athe rates at which corporation tax on profits is charged (see Chapter 2),bascertaining the amount of profits to which the rates of tax are applied (see Chapter 3), andcthe currency in which profits are to be calculated and expressed (see Chapter 4).2 Parts 3A to 7 make provision for the following reliefs—a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .arelief for companies with small profits (other than ring-fence profits) (see Part 3A),brelief for trade losses (see Chapters 2 and 3 of Part 4),crelief for losses from property businesses (see Chapter 4 of Part 4),drelief for losses on a disposal of shares (see Chapter 5 of Part 4),erelief for losses from miscellaneous transactions (see Chapter 6 of Part 4),fgroup relief (see Part 5),fagroup relief for carried-forward losses (see Part 5A),grelief for qualifying charitable donations (see Part 6), ...garelief for expenditure on grassroots sport (see Part 6A), andhcommunity investment tax relief (see Part 7).2APart 7ZA contains provision restricting the amount of certain deductions which may be made in calculating the profits of a company on which corporation tax is chargeable.3 Parts 7A to 13 make provision about special types of business and company etc, in particular—zabanking companies (see Part 7A),aoil activities (see Part 8),aaoil contractor activities (see Part 8ZA),abprofits arising from the exploitation of patents etc (see Part 8A),actrading profits taxable at Northern Ireland rate (see Part 8B),adrestitution interest (see Part 8C),bleasing plant or machinery (see Part 9),cclose companies (see Part 10),dcharitable companies etc (see Part 11),eReal Estate Investment Trusts (see Part 12),fcorporate beneficiaries under trusts (see Chapter 1 of Part 13),gopen-ended investment companies, authorised unit trusts and court investment funds (see Chapter 2 of Part 13),h. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .isecuritisation companies (see Chapter 4 of Part 13),jcompanies in liquidation or administration (see Chapter 5 of Part 13),kbanks etc in compulsory liquidation (see Chapter 6 of Part 13),lco-operative housing associations and self-build societies (see Chapters 7 and 8 of Part 13), andmcommunity amateur sports clubs (see Chapter 9 of Part 13).4Parts 14 to 21C contain provisions relating to tax avoidance, in particular with respect to—achange in company ownership (see Part 14),aatransfer of deductions (see Part 14A),abcarried-forward losses (see Part 14B),btransactions in securities (see Part 15),cfactoring of income (see Part 16),d. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .damanufactured dividends (see Part 17A),e. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .fthe sale and lease-back of assets (see Part 19),gleasing plant or machinery (see Part 20), ...hother arrangements involving asset leasing (see Part 21) ...irisk transfer schemes (see Part 21A).jgroup mismatch schemes (see Part 21B)., andjatax mismatch schemes (see Part 21BA),ktainted donations made to charities (see Part 21C).5Part 22 contains miscellaneous provisions, including provision with respect to—atransfers of trade without a change of ownership (see Chapter 1),btransfers of trade to obtain balancing allowances (see Chapter 2),ctransfer of relief within partnerships (see Chapter 3),dthe surrender of tax refunds within groups of companies (see Chapter 4),ethe set off of income tax deductions against corporation tax (see Chapter 5),fthe assessment, collection and recovery of corporation tax from UK representatives of non-UK resident companies (see Chapter 6),gthe recovery of unpaid corporation tax due from non-UK resident companies (see Chapter 7), andhexemptions (see Chapter 8).6Part 23 contains provisions about the meaning of “distribution” and certain associated matters.7Part 24 contains definitions that apply for the purposes of the Corporation Tax Acts and other general provisions that have effect for the purposes of those Acts.8Part 25 contains provisions of general application, including definitions for the purposes of the Act.9For abbreviations and defined expressions used in this Act, see section 1174 and Schedule 4.Word in s. 1(4)(g) omitted (with effect in accordance with Sch. 16 para. 5 of the amending Act) by virtue of Finance Act 2010 (c. 13), Sch. 16 para. 2S. 1(4)(i) inserted (with effect in accordance with Sch. 16 para. 5 of the amending Act) by Finance Act 2010 (c. 13), Sch. 16 para. 2Figure in s. 1(4) substituted (with effect in accordance with Sch. 3 para. 27 of the amending Act) by Finance Act 2011 (c. 11), Sch. 3 para. 20(a)Word in s. 1(4)(h) omitted (with effect in accordance with Sch. 5 para. 6 of the amending Act) by virtue of Finance Act 2011 (c. 11), Sch. 5 para. 1S. 1(4)(j) inserted (with effect in accordance with Sch. 5 para. 6 of the amending Act) by Finance Act 2011 (c. 11), Sch. 5 para. 1S. 1(4)(k) and word inserted (with effect in accordance with Sch. 3 para. 27 of the amending Act) by Finance Act 2011 (c. 11), Sch. 3 para. 20(b)S. 1(4)(aa) inserted (with effect in accordance with Sch. 14 para. 3 of the amending Act) by Finance Act 2013 (c. 29), Sch. 14 para. 2(1)S. 1(4)(ja) inserted (with effect in accordance with Sch. 20 para. 6(1) of the amending Act) by Finance Act 2013 (c. 29), Sch. 20 para. 2S. 1(4)(d) omitted (1.1.2014) by virtue of Finance Act 2013 (c. 29), Sch. 29 paras. 42, 52(a)S. 1(4)(da) inserted (1.1.2014) by Finance Act 2013 (c. 29), Sch. 29 paras. 42(b), 52S. 1(3)(aa)(ab) inserted (retrospective to 1.4.2014) by Finance Act 2014 (c. 26), Sch. 16 paras. 2, 6S. 1(3)(h) omitted (6.4.2014) by virtue of The Unauthorised Unit Trusts (Tax) Regulations 2013 (S.I. 2013/2819), regs. 1(3), 39(2) (with reg. 32)S. 1(2)(a) omitted (with effect in accordance with Sch. 1 para. 22 of the amending Act) by virtue of Finance Act 2014 (c. 26), Sch. 1 para. 2(b)S. 1(4)(ab) inserted (with effect and application in accordance with Sch. 3 Pt. 2 of the amending Act) by Finance Act 2015 (c. 11), Sch. 3 para. 2S. 1(3)(ac) inserted (with effect in accordance with s. 5 of the amending Act) by Corporation Tax (Northern Ireland) Act 2015 (c. 21), Sch. 2 para. 5Words in s. 1(3) substituted (with effect in accordance with Sch. 2 paras. 7, 8 of the amending Act) by Finance Act 2015 (c. 11), Sch. 2 para. 4(a)S. 1(3)(za) inserted (with effect in accordance with Sch. 2 paras. 7, 8 of the amending Act) by Finance Act 2015 (c. 11), Sch. 2 para. 4(b)S. 1(3)(ad) inserted (18.11.2015) (with effect in accordance with s. 38(9)-(12) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 38(2)S. 1(4)(e) omitted (with effect in accordance with s. 81 of the amending Act) by virtue of Finance Act 2016 (c. 24), s. 77(2) (and also with effect in accordance with Finance (No. 2) Act 2017 (c. 32), s. 39(1)(2))S. 1(2A) inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 146(3)S. 1(2)(ga) inserted (with effect in accordance with s. 22(6) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), s. 22(2)(b)S. 1(2)(fa) inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 146(2)Word in s. 1(2)(g) omitted (with effect in accordance with s. 22(6) of the amending Act) by virtue of Finance (No. 2) Act 2017 (c. 32), s. 22(2)(a)Words in s. 1(2) substituted (with effect in accordance with Sch. 1 para. 34 of the amending Act) by Finance Act 2021 (c. 26), Sch. 1 para. 19(a)S. 1(2)(a) inserted (with effect in accordance with Sch. 1 para. 34 of the amending Act) by Finance Act 2021 (c. 26), Sch. 1 para. 19(b)