{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-688",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-688.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/688",
  "kind": "section",
  "number": "688",
  "heading": "Meaning of “significant increase in the amount of a company's capital”",
  "text": "(1) This section and sections 689 to 691 have effect for determining whether, for the purposes of section 677(2), there is a significant increase in the amount of a company's capital after a change in the ownership of the company.\n(2) There is a significant increase in the amount of a company's capital if amount B—\n(a) exceeds amount A by at least £1 million, , and\n(b) is at least 125% of amount A.\n(3) For the meaning of—\n(a) “amount A” and “amount B”, see sections 689 and 690 respectively, and\n(b) “amount of capital”, see section 691.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 688(2)(b) and word substituted (with effect in accordance with s. 37(6) of the amending Act) by Finance Act 2014 (c. 26), s. 37(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/688",
    "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."
}