CTM60070 | Close companies: general: special provisions

If a company is a close company the following special provisions apply.

• Those affecting the computation of profits chargeable to Corporation Tax, CTM60520.

• Those affecting the definition of distributions and, so, prior to 6 April 1999, the amounts on which the company had to account for tax under CTA10/S1136 (qualifying distributions, now repealed) and ICTA88/SCH13, CTM60500 onwards.

• Those charging tax ('as if it were an amount of Corporation Tax') in respect of certain loans made by the company, CTM61500 onwards.

• Those imposing certain restrictions on close investment-holding companies, CTM60700 onwards.