Income Tax Act 2007 (c. 3)

Part 14 U.K. Income tax liability: miscellaneous rules

Chapter 1 U.K. Limits on liability to income tax of non-UK residents

Limit for non-UK resident companies U.K.

815 Limit on liability to income tax of non-UK resident companies U.K.

(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,

(b) any amounts representing income tax that are treated as deducted from or paid in respect of that income, and

(c) any tax credits in respect of that income.

(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.