Section 1275 — Corporation Tax Act 2009: Claim for relief for unremittable income

Claim for relief for unremittable income 1275 1 If a company liable for corporation tax on unremittable income makes a claim for relief under this section in respect of that income, it is not taken into account for corporation tax purposes.

2 Subsection (1) is subject to section 1276.

3 No claim under this section may be made in respect of any income so far as an ECGD payment has been made in relation to it.

4 In subsection (3) “ ECGD payment ” means a payment made by the Export Credits Guarantee Department under an agreement entered into as a result of arrangements made under—

a section 2 of the Export and Investment Guarantees Act 1991 (c. 67) (insurance in connection with overseas investment), or b section 11 of the Export Guarantees and Overseas Investment Act 1978 (c. 18).

5 A claim under this section must be made before the expiry of 2 years after the end of the accounting period in which the income arises.