SCHEDULES
SCHEDULE 2Transitionals and savings
Part 5Company residence: exceptions to section 14
13
1
Subject to sub-paragraph (2), section 14 does not apply to a company if—
a
immediately before 15 March 1988 the company was non-UK resident, having ceased to be UK resident under a Treasury consent, and
b
immediately before 1 April 2009 section 66(1) of FA 1988 did not apply to the company because of paragraph 1(1) of Schedule 7 to that Act (certain companies which ceased to be UK resident before 15 March 1988 in pursuance of a Treasury consent).
2
If at any time a company falling within sub-paragraph (1)—
a
ceases to carry on business,
b
becomes UK resident, or
c
if the Treasury consent was a general consent, ceases to be taxable in a territory outside the United Kingdom,
section 14 applies in relation to the company after that time.