PART 2A

STRUCTURES AND BUILDINGS ALLOWANCES
CHAPTER 3

QUALIFYING USE AND QUALIFYING ACTIVITIES

Qualifying activities

Foreign permanent establishments
270CC
A business carried on through one or more permanent establishments outside the United Kingdom by a company in relation to which an election under section 18A of CTA 2009 (exemption for profits or losses of foreign permanent establishments) has effect—
a
is an activity separate from any other activity of the company, and
b
is to be regarded for the purposes of this Part as an activity all the profits and gains from which are not, or (if there were any) would not be, chargeable to tax.
S. 45H(2) modified (with effect in accordance with s. 167 of the amending Act) by Finance Act 2003 (c. 14) , Sch. 30 para. 7
Pt. 2A inserted (5.7.2019) by The Capital Allowances (Structures and Buildings Allowances) Regulations 2019 (S.I. 2019/1087), regs. 1, 2