SCHEDULES
C1SCHEDULE 5Non-UK resident companies carrying on UK property businesses etc
Annotations:
Modifications etc. (not altering text)
PART 1Extension of scope of charge
I13
After subsection (3) insert—
3A
A non-UK resident company which carries on a UK property business is chargeable to corporation tax on income on all its profits that are—
a
profits of that business, or
b
profits arising from loan relationships or derivative contracts that the company is a party to for the purposes of that business.
3B
A non-UK resident company which has other UK property income is chargeable to corporation tax on income on all its profits that—
a
consist of that income, or
b
are profits arising from loan relationships or derivative contracts that the company is a party to for the purposes of enabling it to generate that income.
Sch. 5 modified (22.7.2020) by Finance Act 2020 (c. 14), Sch. 6 para. 10