Finance Act 2020 (c. 14)

SCHEDULES

SCHEDULE 6 U.K. Non-UK resident companies carrying on UK property businesses etc

Calculation of non-trading profits and deficits from loan relationships or derivative contracts U.K.

2 U.K. In section 574 of CTA 2009 (derivative contracts: non-trading credits and debits to be brought into account), for the subsection (2A) inserted into that section by paragraph 18 of Schedule 5 to FA 2019 substitute—

“(2A) In the case of a non-UK resident company, subsection (2) needs to be read with section 5(3), (3A)(b) and (3B)(b) (territorial scope of charge to corporation tax).”