3(1)A reference in this Schedule to a UK resident company is a reference to a company which—U.K.
(a)is resident in the United Kingdom, and
(b)is not resident in another place in accordance with the law of that place relating to taxation.
(2)A reference in this Schedule to UK profits of a group is a reference to—
(a)amounts shown in the financial statements of G (property rental business) as profits of UK resident members of the group, and
(b)amounts shown in the financial statements of G (property rental business) as profits of business in the United Kingdom of other members.
(3)A reference to UK business of a group is a reference to—
(a)the business of UK resident members of the group, and
(b)business in the United Kingdom of other members.