Related Commentary  Related HMRC Manuals

History

Section heading substituted for “Credit for UK or foreign tax on same profits” by FA 2016, s. 43(4), with effect in relation to accounting periods ending on or after 28 June 2016.


100(1)  Subsection (2) applies where a company has paid–

(a)corporation tax, or

(b)a tax under the law of a territory outside the United Kingdom which corresponds to corporation tax,

which is calculated by reference to profits of the company (“the taxed profits”).

100(2)  Such credit as is just and reasonable is allowed in respect of that tax against any liability which either–

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