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HMRC internal manual

Company Taxation Manual

From
HM Revenue & Customs
Updated
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Corporation Tax: introduction: close companies

There are special rules for ‘close companies’. Close companies are defined in CTA10/S439 (formerly ICTA88/S414).

The rules govern:

  • the computation of income,
  • the definition of distribution, and
  • the assessment of certain loans.

For guidance on close companies see CTM60000 onwards.