Section 815 | Limit on liability to income tax of non-UK resident companies

(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^F1

(b)any amounts representing income tax that are treated as deducted from or paid in respect of that income, ...^F2

(c)Repealed^F2

(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.