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Finance Act 2015

Details of the Section

2.Subsection (1) states that the section applies where section 86 applies for an accounting period, the “mismatch condition” is met and the “actual provision condition” is met. The “mismatch condition” is defined in subsection (2) of section 86. The circumstances where the “actual provision condition” is met are defined in subsection (8) of section 88.

3.Subsection (2) determines the tax diverted profits that arise in the accounting period to the foreign company. These are equal to the notional PE profits for the period. The notional PE profits are defined in subsection (4) of section 88.

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