Related Commentary  Related HMRC Manuals

3(1)  The provisions of the Income Tax Acts relating to the charge to income tax do not apply to income of a company if–

(a)the company is UK resident, or

(b)the company is not UK resident and it is chargeable to corporation tax in respect of the income, or would be so chargeable but for an exemption.

3(2)  Subsection (1) does not apply to income accruing to a company in a fiduciary or representative capacity.

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