6Profits accruing in fiduciary or representative capacityU.K.
This section has no associated Explanatory Notes
(1)A company is not chargeable to corporation tax on profits which accrue to it in a fiduciary or representative capacity except as respects its own beneficial interest (if any) in the profits.
(2)The exception under subsection (1) from chargeability does not apply to profits arising in the winding up of the company.