Part III Income Tax, Corporation Tax and Capital Gains Tax

Chapter I General

Miscellaneous

C166 Company residence.

1

Subject to the provisions of Schedule 7 to this Act, a company which is incorporated in the United Kingdom shall be regarded for the purposes of the Taxes Acts as resident there; and accordingly, if a different place of residence is given by any rule of law, that place shall no longer be taken into account for those purposes.

2

For the purposes of the Taxes Acts, a company which—

a

is no longer carrying on any business; or

b

is being wound up outside the United Kingdom,

shall be regarded as continuing to be resident in the United Kingdom if it was so regarded for those purposes immediately before it ceased to carry on business or, as the case may be, before any of its activities came under the control of a person exercising functions which, in the United Kingdom, would be exercisable by a liquidator.

3

In this section “the Taxes Acts” has the same meaning as in the M1Taxes Management Act 1970.

4

This section and Schedule 7 to this Act shall be deemed to have come into force on 15th March 1988.