Section 968 — Corporation Tax Act 2010: Deductions from payments received by non-UK resident companies

Deductions from payments received by non-UK resident companies 968 1 Subsection (2) applies if—

a a non-UK resident company receives a payment on which it bears income tax by deduction, and b the payment forms part of, or is to be taken into account in calculating, the company's income chargeable to corporation tax.

2 The income tax on the payment is to be set off against any corporation tax assessable on that income for the accounting period in which the payment falls to be taken into account for corporation tax.