SCHEDULES
SCHEDULE 5Non-UK resident companies carrying on UK property businesses etc
PART 2Supplementary & Consequential amendments
15CTA 2009
1
Section 301 (calculation of non-trading profits and deficits from loan relationships: non-trading credits and debits) is amended as follows.
2
In subsection (1) for “as follows” substitute “in accordance with subsections (4) to (7)”.
3
After subsection (1) insert—
1A
But in the case of a non-UK resident company the only non-trading credits and non-trading debits to be used are those in respect of loan relationships that the company is a party to for a purpose mentioned in section 5(3A)(b) or (3B)(b).