# Corporation Tax Act 2010, Section 54: Non-UK resident company: receipts of interest, dividends or royalties

Extent: E+W+S+N.I.

(1) This section applies if—
(a) a non-UK resident company carries on a trade in the United Kingdom, and
(b) tax-exempt receipts of interest, dividends or royalties arise to the company.
(2) The receipts are not to be excluded from the profits of the trade so as to give rise to a loss to be deducted under section 37 , 45, 45A or 45B .
(3) For the purposes of subsection (1) a receipt is “tax-exempt” if it has been treated as tax-exempt under arrangements having effect under section 2 of TIOPA 2010.

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/54 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-54
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.