# Corporation Tax Act 2010, Section 688: Meaning of “significant increase in the amount of a company's capital”

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

(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.
(2) There is a significant increase in the amount of a company's capital if amount B—
(a) exceeds amount A by at least £1 million, , and
(b) is at least 125% of amount A.
(3) For the meaning of—
(a) “amount A” and “amount B”, see sections 689 and 690 respectively, and
(b) “amount of capital”, see section 691.

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/688 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-688
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.