{
  "url": "https://openlegislation.uk/taxes-management-act-1970/section-109",
  "json_url": "https://openlegislation.uk/taxes-management-act-1970/section-109.json",
  "legislation": "ukpga/1970/9",
  "legislation_title": "Taxes Management Act 1970",
  "legislation_url": "https://openlegislation.uk/taxes-management-act-1970",
  "path": "section/109",
  "kind": "section",
  "number": "109",
  "heading": "Corporation tax on close company in connection with loans or benefits to participators etc.",
  "text": "(1) The provisions of sections 455 to 459 and 464A and 464B of CTA 2010 (charge of tax in connection with loans or benefits to participators etc.) directing that tax be assessed and recoverable as if it were an amount of corporation tax shall be taken as applying, subject to the provisions of the Taxes Acts, and to any necessary modifications, all enactments applying generally to corporation tax, including those relating to the assessing, collecting and receiving of corporation tax, those conferring or regulating a right of appeal and those concerning administration, penalties, interest on unpaid tax and priority of tax in cases of insolvency under the law of any part of the United Kingdom.\n(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(3) For the purposes of section 87A of this Act as applied by subsection (1) above—\n(a) the date when tax under section 455 of CTA 2010 became due and payable is that determined in accordance with subsection (3) of that section, and\n(b) the date when tax under section 464A of CTA 2010 became due and payable is that determined in accordance with subsection (4) of that section.\n(3A) If\n(a) there is such a repayment of the whole or any part of a loan or advance as is referred to in subsection (2) of section 458 of CTA 2010, or\n(b) there is such a release or writing off of the whole or any part of the debt in respect of a loan or advance as is referred to in that subsection,\ninterest under section 87A of this Act on so much of the tax under section 455 of CTA 2010 as is referable to the amount repaid, released or written off shall not be payable in respect of any period after the date on which the repayment was made or the release or writing off occurred.\n(3B) If there is a payment which for the purposes of section 464B of CTA 2010 is a return payment in respect of a benefit conferred, interest under section 87A of this Act on so much of the tax under section 464A of CTA 2010 as is referable to the return payment is not payable in respect of any period after the date on which the return payment was made.\n(4) Section 91 of this Act shall not apply in consequence of any discharge or repayment of tax under section 458 or 464B of CTA 2010.\n(5) For the purposes of the said section 91, a relief from tax under sections 455 to 459 or 464A and 464B of CTA 2010 shall not be treated as affecting tax charged by any assessment unless the assessment is to tax under that section.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 109 substituted (in relation to times after 5 April 1973) by Finance Act 1972 (c. 41), s. 111, Sch. 24 para. 13 (subject to s. 111(3))."
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 109(1) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 158(2) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 109(1) inserted (retrospective to 20.3.2013) by Finance Act 2013 (c. 29), Sch. 30 paras. 11(2)(a), 12"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 109(1) substituted (retrospective to 20.3.2013) by Finance Act 2013 (c. 29), Sch. 30 paras. 11(2)(b), 12"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "S. 109(2) omitted (with effect with respect to loans or advances made (or treated as made) in any accounting period ending after 30.9.1993) by virtue of Finance (No. 2) Act 1987 (c. 51), s. 91(1) (with s. 91(4)); S.I. 1992/3066, art. 2(2)(a)"
    },
    {
      "type": "F",
      "label": "F6",
      "text": "S. 109(3) substituted (retrospective to 20.3.2013) by Finance Act 2013 (c. 29), Sch. 30 paras. 11(3), 12"
    },
    {
      "type": "F",
      "label": "F7",
      "text": "S. 109(3A) inserted (with effect with respect to loans or advances made (or treated as made) in any accounting period ending after 30.9.1993) by Finance (No. 2) Act 1987 (c. 51), s. 91(3) (with s. 91(4)); S.I. 1992/3066, art. 2(2)(a)"
    },
    {
      "type": "F",
      "label": "F8",
      "text": "Word in s. 109(3A) inserted (with effect in accordance with Sch. 3 para. 6(3) of the amending Act) by Finance Act 1998 (c. 36), Sch. 3 para. 6(2)(a)"
    },
    {
      "type": "F",
      "label": "F9",
      "text": "Words in s. 109(3A)(a) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 158(4)(a) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F10",
      "text": "Words in s. 109(3A) inserted (with effect in accordance with Sch. 3 para. 6(3) of the amending Act) by Finance Act 1998 (c. 36), Sch. 3 para. 6(2)(b)"
    },
    {
      "type": "F",
      "label": "F11",
      "text": "Words in s. 109(3A) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 158(4)(b) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F12",
      "text": "Words in s. 109(3A) inserted (with effect in accordance with Sch. 3 para. 6(3) of the amending Act) by Finance Act 1998 (c. 36), Sch. 3 para. 6(2)(c)"
    },
    {
      "type": "F",
      "label": "F13",
      "text": "Words in s. 109(3A) inserted (with effect in accordance with Sch. 3 para. 6(3) of the amending Act) by Finance Act 1998 (c. 36), Sch. 3 para. 6(2)(d)"
    },
    {
      "type": "F",
      "label": "F14",
      "text": "S. 109(3B) inserted (retrospective to 20.3.2013) by Finance Act 2013 (c. 29), Sch. 30 paras. 11(4), 12"
    },
    {
      "type": "F",
      "label": "F15",
      "text": "Words in s. 109(4) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 158(5) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F16",
      "text": "Words in s. 109(4) inserted (retrospective to 20.3.2013) by Finance Act 2013 (c. 29), Sch. 30 paras. 11(5), 12"
    },
    {
      "type": "F",
      "label": "F17",
      "text": "Words in s. 109(5) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 158(6) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F18",
      "text": "Words in s. 109(5) inserted (retrospective to 20.3.2013) by Finance Act 2013 (c. 29), Sch. 30 paras. 11(6), 12"
    },
    {
      "type": "F",
      "label": "F19",
      "text": "Words in s. 109 heading inserted (retrospective to 20.3.2013) by Finance Act 2013 (c. 29), Sch. 30 paras. 11(7), 12"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1970/9/section/109",
    "retrieved_at": "2026-10-29T10:51:31.747484+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."
}