- Latest available (Revised)
- Original (As enacted)
This is the original version (as it was originally enacted).
1Section 5 of CTA 2009 (territorial scope of charge to corporation tax) is amended as follows.
2In subsection (2) (circumstances in which non-UK resident company is within the charge)—
(a)omit “or” at the end of paragraph (a), and
(b)after paragraph (b) insert “,
(c)it carries on a UK property business, or
(d)it has other UK property income.”
3After 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.”
4In subsection (4) for “(2A) and (3)” substitute “and (2A) to (3B)”.
5At the end insert—
“(6)In this Part “other UK property income” means income dealt with by any of the following Chapters of Part 4—
(a)Chapter 7 (rent receivable in connection with a UK section 39(4) concern);
(b)Chapter 8 (rent receivable for UK electric-line wayleaves);
(c)Chapter 9 (post-cessation receipts arising from a UK property business).”
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: