SCHEDULES

Valid from 10/07/2003

SCHEDULE 27 U.K. Permanent establishment etc: consequential amendments

Finance Act 1995 U.K.

4 (1) Section 126 of the Finance Act 1995 (c. 4) (UK representatives of non-residents) is amended as follows. U.K.

(2) In subsection (1), omit the words “, corporation tax”.

(3) In subsection (2)—

(a) after paragraph (b) insert “ and ”;

(b) in paragraph (c) omit the words from “or fall” to “non-resident”; and

(c) omit sub-paragraph (d) and the word “and” preceding it.

(4) For subsection (8) substitute—

“(8) In this section, “branch or agency” means any factorship, agency, receivership, branch or management.”.

(5) In subsection (9), omit paragraph (b) and the word “and” preceding it.

(6) After subsection (9) insert—

“(10) This section does not apply in relation to income tax chargeable on income of a company otherwise than as a trustee.”.

5 (1) Section 127 of the Finance Act 1995 (persons not treated as UK representatives) is amended as follows. U.K.

(2) In subsection (1) for “(a) to (d)” substitute “ (a) to (c) ”.

(3) In subsection (5)(b) omit “or 129”.

(4) In subsection (17), in the definition of “branch or agency” for “the Management Act” substitute “ section 126 above ”.

(5) In subsection (19) omit paragraph (b) and the word “and” preceding it.

6 U.K. In section 128 of the Finance Act 1989 (limit on income chargeable on non-residents: income tax), after subsection (11) insert—

“(12) This section does not apply in relation to income tax chargeable on income of a company otherwise than as a trustee.”.

7 U.K. Omit section 129 of the Finance Act 1995 (c. 4) (limit on income chargeable on non-residents: corporation tax).