Finance Act 2019 (c. 1)

SCHEDULES

SCHEDULE 5 U.K. Non-UK resident companies carrying on UK property businesses etc

Modifications etc. (not altering text)

C1 Sch. 5 modified (22.7.2020) by Finance Act 2020 (c. 14), Sch. 6 para. 10

PART 2 U.K. Supplementary & Consequential amendments

CTA 2010 U.K.

28 U.K. CTA 2010 is amended as follows.

Commencement Information

I1 Sch. 5 para. 28 in force at 6.4.2020, see Sch. 5 para. 35

29 (1) Section 9 (non-UK resident company preparing return of accounts in currency other than sterling) is amended as follows. U.K.

(2) For subsection (1) substitute—

“(1) This section applies if a non-UK resident company within the charge to corporation tax prepares its return of accounts for a period of account in a currency other than sterling (the “accounts currency”).”

(3) In subsection (4) omit from “of its” to “United Kingdom”.

Commencement Information

I2 Sch. 5 para. 29 in force at 6.4.2020, see Sch. 5 para. 35

30 U.K. In section 107 (group relief: restriction on losses etc surrenderable by non-UK resident) in subsection (1) for “company” (in the second place it occurs) to the end substitute “ company within the charge to corporation tax ”.

Commencement Information

I3 Sch. 5 para. 30 in force at 6.4.2020, see Sch. 5 para. 35

31 U.K. In section 188BI (group relief for carried-forward losses: restriction on surrender of losses made when non-UK resident) in subsection (1) for “company” (in the second place it occurs) to the end substitute “ company within the charge to corporation tax ”.

Commencement Information

I4 Sch. 5 para. 31 in force at 6.4.2020, see Sch. 5 para. 35