SCHEDULE 6 Non-UK Resident Companies Carrying on UK Property Businesses etc
Finance Act 2020 (2020 c 14) | Legislation

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).â€

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).â€

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

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