Section 815 Limit on liability to income tax of non-UK resident companies

United Kingdom

(1)

This section applies to income tax to which a non-UK resident company is liable, otherwise than as a trustee.

(2)

The non-UK resident company's liability to income tax for a tax year is limited to the sum of amounts A and B.

(3)

Amount A is the sum of—

(a)

any amounts representing income tax deducted from the non-UK resident company's disregarded company income for the tax year, F1and

(b)

any amounts representing income tax that are treated as deducted from or paid in respect of that income, F2...

(c)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

Amount B is the amount that, apart from this section, would be the non-UK resident company's liability to income tax for the tax year if the non-UK resident company's disregarded company income for the tax year were left out of account.

Annotations

Textual amendments

F1: Word in s. 815(3) inserted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by Finance Act 2016 (c. 24), Sch. 1 para. 63(15)(a)
F2: S. 815(3)(c) and word omitted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by virtue of Finance Act 2016 (c. 24), Sch. 1 para. 63(15)(b)

Notes on Chapter 1

Modifications

C1: Pt. 14 Ch. 1 excluded by 2005 c. 5, s. 608X(3)(a) (as inserted (with effect in accordance with Sch. 3 para. 7 of the amending Act) by Finance Act 2019 (c. 1), Sch. 3 para. 4)