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HMRC internal manual

Company Taxation Manual

Close companies: general: special provisions

If a company is a close company, the special provisions that apply are as below.

  • Provisions affecting the computation of profits chargeable to CT (CTM60520).
  • Provisions affecting the definition of distributions and, so, prior to 6 April 1999, the amounts on which the company had to account for tax under CTA2010/S1136 (formerly ICTA88/S14) and ICTA88/SCH13 (CTM60500 onwards).
  • Provisions charging tax (‘as if it were an amount of CT’) in respect of certain loans made by the company (CTM61500 onwards).
  • provisions imposing certain restrictions on close investment-holding companies (CTM60700 onwards).