Accounting methods for creditor relationships

Accounting periods on or after 1 January 2012

Approval

Carbon emission trading product, transaction in

Collective investment scheme, transaction in

Distributions designated as interest distributions

Eligibility conditions

Exceptions to charge

Loan relationship, transaction resulting in

Meaning of investment trust

Non-reporting offshore funds

Transactions treated as non-trading

Acquisitions for restructuring purposes

Generally

Requirements of Chapter 3 to be treated as met

Approval

Appeal against rejection

Commissioner's response to application

Conditions for

Contents of application

Effect of acceptance

Eligibility conditions treated as being met

Generally

Holding in a company, meaning

Information, acceptance of application conditional on provision of

Interpretation

Timing of application

Venture capital trust

Withdrawal of application

Approved company, requirements to be met in each accounting period

Breach of requirements, notification

Generally

Income distribution requirement

Revised investment policy, notification of

Authorised unit trusts, investment in

Breach of regulations

Consequence of serious breach

Eligibility conditions

Income distribution requirement

Multiple breaches

Serious breach

Types of

Capital gains tax

Exemption

Financial futures

Options

– see Options

Transfer of assets

Carbon emission trading products

Chargeable gains

Collective investment schemes

Contracts for differences

Corporation tax charge

Delay in admission of company's ordinary share capital to trading on regulated market

Derivative contracts

Distributions

Dividends optional treatment as interest

Duty to deduct tax

Generally

Information and record keeping

Eligibility conditions treated as being met

Delay in admission of company's ordinary share capital to trading on regulated market

Winding up of approved company

Eligible investment income, offshore income gains

Exceptions

First commercial sale condition

No business acquisition condition

Permitted maximum age condition

Futures

Generally

Index tracking funds, interest in

Interest distributions

Interest, dividends to be treated as

Interpretation of Chapter 4 of Part 6

Interpretation of Part 6

Knowledge-intensive company, meaning

Intra-group transfers

Loan relationships

Meaning

Monthly savings schemes

Non-reporting offshore funds, interests in

Offshore income gains, eligible investment income

Offshore non-reporting funds, interests in

Open-ended investment companies

Options

Power to amend Chapter 4 of Part 6

Power to amend Chapters 3 and 4 of Part 6 of ITA 2007

Qualifying holdings

Generally

Maximum risk finance investments, 5-year post-investment period requirement

Maximum risk finance investments, relevant holding is issued requirement

Permitted company age requirement

Proportion of skilled employees requirement

Relevant contracts

Return made by approved company treating itself as not being an investment trust

Transactions entered into

Carbon emission trading product

Collective investment scheme, units in

Contract for differences

Exchange gains and losses

Futures

Loan relationships

Meaning of investment transaction

Options

Otherwise than in the course of trade

Power to make regulations

Relevant contract, meaning

Transactions treated as non-trading transactions

Transfer of company's assets to

Venture capital trusts

Winding up of company approved as