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Legislation
Corporation Tax Act 2010

Chapter 6 Banks etc in compulsory liquidation

  • Section 634 Overview of Chapter
  • Section 635 Application of Chapter
  • Section 636 Charge to corporation tax on winding up receipts
  • Section 637 Transfer of rights to payment
  • Section 638 Allowable deductions
  • Section 639 Election to carry back
  • Section 640 Relationship of Chapter with other corporation tax provisions
  • Section 641 Interpretation of Chapter
  1. Chapter 6 · Banks etc in compulsory liquidation
  2. Relationship of Chapter with other corporation tax provisions

Section 640 | Relationship of Chapter with other corporation tax provisions

From legislation.gov.uk

(1)If a winding up receipt arising from the deposit-taking trade is chargeable to corporation tax under this Chapter it is not chargeable to corporation tax under any other provision.

(2)This Chapter has effect regardless of section 464(1) of CTA 2009 (priority of loan relationship provisions).

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