Part 2

Charge to corporation tax: basic provisions
Chapter 1

The charge to corporation tax

General scheme of corporation tax

Profits accruing in fiduciary or representative capacity
6
1
A company is not chargeable to corporation tax on profits which accrue to it in a fiduciary or representative capacity except as respects its own beneficial interest (if any) in the profits.
2
The exception under subsection (1) from chargeability does not apply to profits arising in the winding up of the company.