Section 938L Foreign companies and foreign permanent establishmentsF1

(1)

References in this Part to a company not bringing amounts into account as debits or credits for the purposes of Part 5 or 7 of CTA 2009 do not include the company not bringing amounts into account by virtue of—

(a)

the company being non-UK resident, or

(b)

an election under section 18A of CTA 2009 (profits or losses of foreign permanent establishments).

(2)

See section 938M for provision about controlled foreign companies.

Annotations

Textual amendments

F1: Pt. 21B inserted (with effect in accordance with Sch. 5 para. 6 of the amending Act) by Finance Act 2011 (c. 11), Sch. 5 para. 2