SCHEDULE 6 Non-UK Resident Companies Carrying on UK Property Businesses etc

SCHEDULE 6 Non-UK Resident Companies Carrying on UK Property Businesses etc

Section 32

Calculation of non-trading profits and deficits from loan relationships or derivative contracts

1

In section 301 of CTA 2009 (calculation of non-trading profits and deficits from loan relationships), for the subsection (1A) inserted into that section by paragraph 15(3) of Schedule 5 to FA 2019 substitute—

“(1A)     In the case of a non-UK resident company, subsections (4) to (7) need to be read with section 5(3), (3A)(b) and (3B)(b) (territorial scope of charge to corporation tax).”

2

In section 574 of CTA 2009 (derivative contracts: non-trading credits and debits to be brought into account), for the subsection (2A) inserted into that section by paragraph 18 of Schedule 5 to FA 2019 substitute—

“(2A)     In the case of a non-UK resident company, subsection (2) needs to be read with section 5(3), (3A)(b) and (3B)(b) (territorial scope of charge to corporation tax).”

Debits referable to times before UK property business etc is carried on

3

After section 330 of CTA 2009 insert—

“Pre-commencement debits of property businesses etc of non-UK resident companies
330ZA Debits referable to times before UK property business etc carried on

(1)     This section applies

Powered by Lexis+®

Popular documents