Section 815 — Income Tax Act 2007: Limit on liability to income tax of non-UK resident companies

Limit on liability to income tax of non-UK resident companies 815 1 This section applies to income tax to which a non-UK resident company is liable, otherwise than as a trustee.

2 The non-UK resident company's liability to income tax for a tax year is limited to the sum of amounts A and B.

3 Amount A is the sum of—

a any amounts representing income tax deducted from the non-UK resident company's disregarded company income for the tax year, and b any amounts representing income tax that are treated as deducted from or paid in respect of that income, ... c . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

4 Amount B is the amount that, apart from this section, would be the non-UK resident company's liability to income tax for the tax year if the non-UK resident company's disregarded company income for the tax year were left out of account.