SCHEDULES

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

PART 2Supplementary & Consequential amendments

6FA 1998

1

Paragraph 2 of Schedule 18 to FA 1998 (duty to give notice of chargeability) is amended as follows.

2

After sub-paragraph (1) insert—

1A

But a company is not required to give notice under sub-paragraph (1) in respect of an accounting period if for the period —

a

all the income on which it is chargeable to tax consists of payments on which it bears income tax by deduction, and

b

the company has no chargeable gains.

3

In sub-paragraph (2) for “The notice” substitute “A notice required to be given under this paragraph”.