SCHEDULES

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

PART 3Commencement and transitional provisions

48Transitional provisions

Where on the commencement date—

a

a non-UK resident company ceases to be within the charge to income tax and comes within the charge to corporation tax by reason of this Schedule, and

b

an accounting period of the company begins in accordance with section 9(1)(a) of CTA 2009,

the Corporation Tax (Instalment Payments) Regulations 1998 (S.I. 1998/3175) do not have effect in relation to that accounting period.