Section 2C — Taxation of Chargeable Gains Act 1992: Non-UK resident company with UK permanent establishment

Non-UK resident company with UK permanent establishment 2C 1 For the purposes of section 2B(3) a company has a UK permanent establishment at any time if, at that time, the company carries on a trade in the United Kingdom through a permanent establishment there. 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

3 Section 2B(3) does not apply to a company which, as a result of Part 2 of TIOPA 2010 (double taxation arrangements), is exempt from corporation tax for the accounting period in respect of the profits of the permanent establishment.

4 In the case of the long-term business of an overseas life insurance company, subsection (2) has effect as if for paragraph (b) there were substituted—

b it is, or was, used or held for the purposes of the permanent establishment at or before that time (irrespective of where it is situated at that time), .

5 In this section references to a trade include an office and references to carrying on a trade include holding an office.