Corporation Tax Act 2009 (c. 4)

SCHEDULES

SCHEDULE 1 U.K. Minor and consequential amendments

Part 2 U.K. Other enactments

Income Tax (Trading and Other Income) Act 2005 (c. 5) U.K.

637 (1) Amend section 839 (annual payments payable out of relevant foreign income) as follows. U.K.

(2) In subsection (1) for “A to C” substitute “ A, B1 or B2 and C ”.

(3) In subsection (3)—

(a) for “B” substitute “ B1 ”, and

(b) omit “or to corporation tax under Case III of Schedule D”.

(4) After subsection (3) insert—

“(3A) Condition B2 is that, had the payment arisen in the United Kingdom it would have been—

(a) required to be brought into account under Part 5 of CTA 2009 (loan relationships) as a non-trading credit, or

(b) chargeable to corporation tax under Chapter 5 of Part 10 of that Act (distributions from unauthorised unit trusts) or Chapter 7 of that Part (annual payments not otherwise charged).”