When a company becomes resident in the UK part way through a year of assessment an accounting period ends and another one begins, CTA09/S9 and S10. For the accounting period when the company is resident it is within the charge to Corporation Tax. Any gains arising in that part of the year of assessment will be assessed to Corporation Tax on chargeable gains in accordance with CTA09/S2. For further guidance on accounting periods see CTM01410.

For the part of the year of assessment when the company is not resident in the UK

if the company is not carrying on a trade in the UK through a permanent establishment it is not within the charge to Corporation Tax, CTA09/S5 (2), see CTM34210

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