Paragraph 5

United Kingdom

(1)

This paragraph applies in the case of a non-resident company—

(a)

which is resident in any EEA territory, or

(b)

which is not so resident but which carries on a trade in an EEA territory through a permanent establishment,

and for the purposes of this paragraph “the EEA territory concerned” means the EEA territory in which the company is resident or (as the case may be) in which it carries on a trade through a permanent establishment.

(2)

An amount meets the qualifying loss condition in so far as the amount—

(a)

cannot be given qualifying relief for any period (“the current period”) or any other period, and

(b)

has not been given any other qualifying relief under the law of any territory outside the United Kingdom (other than the EEA territory concerned).

(3)

Paragraph 6 determines whether the amount cannot be given qualifying relief for the current period or any previous period.

(4)

Paragraph 7 determines whether the amount cannot be given qualifying relief for any period after the current period.

(5)

Paragraph 8 determines whether the amount has not been given qualifying relief under the law of any territory outside the United Kingdom (other than the EEA territory concerned).

Notes on Schedule 18A

Textual amendments

F1: Sch. 18A repealed (1.4.2010 with effect in accordance with s. 1184(1) of the repealing Act) by Corporation Tax Act 2010 (c. 4), Sch. 1 para. 141, Sch. 3 Pt. 1 (with Sch. 2)
F2: Sch. 18A inserted (with effect in accordance with Sch. 1 para. 9 of the amending Act) by Finance Act 2006 (c. 25), Sch. 1 para. 7