http://www.legislation.gov.uk/ukpga/2010/4/section/1003/2010-04-01
Corporation Tax Act 2010
An Act to restate, with minor changes, certain enactments relating to corporation tax and certain enactments relating to company distributions; and for connected purposes.
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Statute Law Database
2024-06-11
Expert Participation
2010-04-01
Corporation Tax Act 2010
s. 658(1)(d)
(e)
Finance Act 2010
Sch. 6
para. 31
Sch. 6
para. 35
Corporation Tax Act 2010
s. 357
CHA
Finance Act 2024
Sch. 2
para. 14(7)
Sch. 2
para. 16(2)
Part 23Company distributions
Chapter 2Matters which are distributions
Redeemable share capital
1003Redeemable share capital
1
Subsection (2) applies if—
a
a company issues redeemable share capital, and
b
the issue is partly (but not wholly) for new consideration.
2
The part (if any) of the share capital that is properly referable to the new consideration does not fall within paragraph C in section 1000(1).
3
In determining, for the purposes of paragraph C in section 1000(1), the amount of the distribution constituted by the issue of any redeemable share capital, the value of the share capital is taken to be the sum of—
a
the amount of the share capital, and
b
the amount of any premium payable on redemption, in a winding up, or in any other circumstances.