Modifications etc. (not altering text)
C1 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
(1)Subsection (2) applies if—
(a)an election under section 18A of CTA 2009 has effect in relation to a company, and
(b)the company carries on any trade which consists of, or includes, the working of a source of mineral deposits.
(2)That trade so far as carried on through one or more permanent establishments outside the United Kingdom is treated for the purposes of this Part as a trade—
(a)separate from any other trade of the company, and
(b)all the profits and gains from which are not, or (if there were any) would not be, chargeable to tax.]
Textual Amendments
F1Ss. 431A-431C inserted (with effect in accordance with s. 67(9) of the amending Act) by Finance Act 2014 (c. 26), s. 67(7)