3Exclusion of charge to income taxU.K.
This
adran has no associated
Nodiadau Esboniadol
(1)The provisions of the Income Tax Acts relating to the charge to income tax do not apply to income of a company if—
(a)the company is UK resident, or
[F1(b)the company is not UK resident and—
(i)the income is profits of a trade of dealing in or developing UK land, or
(ii)the income is within its chargeable profits as defined by section 19.]
(2)Subsection (1) does not apply to income accruing to a company in a fiduciary or representative capacity.
Textual Amendments
F1S. 3(1)(b) substituted (with effect in accordance with s. 81 of the amending Act) by Finance Act 2016 (c. 24), s. 76(6) (and also with effect in accordance with Finance (No. 2) Act 2017 (c. 32), s. 39(1)(2))