SCHEDULES

SCHEDULE 5Non-UK resident companies carrying on UK property businesses etc

PART 2Supplementary & Consequential amendments

27CTA 2009

In section 863 (asset becoming chargeable intangible asset), in subsection (1)(b)—

a

after “held” insert

—

i

b

after “establishment,” insert—

ii

for the purposes of a trade carried on by the company of dealing in or developing UK land,

iii

for the purposes of a UK property business carried on by the company, or

iv

for the purposes of enabling the company to generate other UK property income (within the meaning given by section 5(6)),