SCHEDULES
SCHEDULE 18AGroup relief: overseas losses of non-resident companies
Part 2Application of UK rules to non-resident company
Assumptions as to places in which activities carried out
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(1)
In the case of any trade carried on by the EEA company in the loss period wholly or partly in the EEA territory concerned, it is to be assumed that the trade is carried on wholly or partly in the United Kingdom.
(2)
In the case of any estate, interest or rights in or over land in the EEA territory concerned which are held by the EEA company, it is to be assumed that the land is in the United Kingdom.
(3)
For this purpose, the reference to domestic concepts of law in relation to the land in the EEA territory concerned is to be read so as to produce the result that most closely corresponds with that produced for F1the purpose of calculating the profits of a UK property business under Part 4 of CTA 2009 in relation to land in the United Kingdom.