Part 2 Foreign Permanent Establishments
Finance Act 2012 (2012 c 14) | Legislation

Part 2 Foreign Permanent Establishments

Main provision

2

Chapter 3A of Part 2 of CTA 2009 (foreign permanent establishments of UK resident companies) is amended as follows.

3

In section 18A(1) omit “UK residentâ€.

4

After section 18C insert—

“18CA Income arising from immovable property

The references in section 18A(6) to profits which would be taken to be attributable to the permanent establishment of a company in a territory include any income arising from immovable property which has been used for the purposes of the business carried on by the company through the permanent establishment in the territory (to such extent as is appropriate having regard to the extent to which it has been so used); and the references to losses in section 18A(7) are to be construed accordingly.

18CB Profits and losses from investment business

(1)     In determining any relevant profits amount or relevant losses amount under section 18A(6) or (7) in relation to a company, there are to be left out of account any profits or losses of any part of the company's business which consists of the making of investments.

(2)     Subsection (1) does not apply to profits or losses arising from assets

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