SCHEDULES
C1SCHEDULE 5Non-UK resident companies carrying on UK property businesses etc
Annotations:
Modifications etc. (not altering text)
PART 3Commencement and transitional provisions
Transitional provisions
I147
1
This paragraph applies if—
a
before the commencement date a company incurs expenditure for the purposes of a UK property business it is about to carry on,
b
the company begins to carry on the business on or after the commencement date, and
c
when the company begins to carry on the business it is non-UK resident.
2
Subsection (7) of section 1147 of CTA 2009 (which enables a company to obtain relief for expenditure on contaminated or derelict land incurred prior to carrying on a UK property business) does not apply in relation to the expenditure.
Sch. 5 modified (22.7.2020) by Finance Act 2020 (c. 14), Sch. 6 para. 10