CTM17580 - Distributions: purchase of own shares: return of payment

CTA10/S1046

If a company undertakes a purchase of its own shares that it believes falls within CTA10/S1033, it must make a return of the transaction to HMRC (CTA10/S1046 (1)).

This return must:

• be made within 60 days of the payment,
• give particulars of the payment,
• explain why the company believes that CTA10/S1033 applies to the payment so as to exempt it from treatment as a distribution.

The company must make such a return even if the Commissioners have confirmed that CTA10/S1033 will apply to the payment.

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)