CTM36770 | Particular topics: dividend-stripping: exempt bodies: repayments of capital

From HM Revenue & Customs · Company Taxation Manual

ICTA88/S235 does not apply to payments treated as distributions by virtue of ICTA88/S209 (3), ICTA88/S210 or ICTA88/S211, which may instead be caught by ICTA88/S237, see and . See also ICTA88/S731 - S735 regarding bond washing by exempt bodies (IM4385 onwards).