# Corporation Tax Act 2010, Section 194: Distributions

Extent: E+W+S+N.I.

(1) A payment is disqualified under this section if it is to be regarded as a distribution by reason of any provision of the Taxes Acts (within the meaning of TMA 1970) except section 1020 (transfers of assets or liabilities treated as distributions).
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) A payment (other than a dividend) made by a company which is wholly owned by a charity is not to be regarded as a distribution for the purposes of subsection (1).

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/194 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-194
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.