{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-463",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-463.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/463",
  "kind": "section",
  "number": "463",
  "heading": "Taxation of debtor on release of loan to trustees of settlement which has ended",
  "text": "(1) This section applies if each of conditions A to D is met.\n(2) Condition A is that a company (X) is or was chargeable to tax under section 455 (charge to tax in the case of loan to participator) in respect of a loan or advance made to the trustees of a settlement.\n(3) Condition B is that X releases or writes off the whole or part of the debt in respect of the loan or advance.\n(4) Condition C is that the person from which the debt was due at the time of the release or writing off is a company (Y).\n(5) Condition D is that the release or writing off takes place after the settlement has ended.\n(6) When the release or writing off takes place, Y is treated as receiving an amount to which the charge to corporation tax on income applies.\n(7) The amount which Y is treated as receiving is equal to the amount released or written off.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 463(7) substituted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by Finance Act 2016 (c. 24), Sch. 1 para. 31"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/463",
    "retrieved_at": "2026-10-29T09:10:29.433154+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}