Statute
Section 431A — Finance Act 2014: Foreign permanent establishment exemption
Text of the provision Official document
Foreign permanent establishment exemption 431A 1 Subsection (2) applies if—
a an election under section 18A of CTA 2009 has effect in relation to a company, and b the company carries on any trade which consists of, or includes, the working of a source of mineral deposits.
2 That trade so far as carried on through one or more permanent establishments outside the United Kingdom is treated for the purposes of this Part as a trade—
a separate from any other trade of the company, and b all the profits and gains from which are not, or (if there were any) would not be, chargeable to tax.
Official source: legislation.gov.uk
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