Section 934 | Non-UK resident companies

(1)A payment is an excepted payment if each of the following conditions is met in relation to the payment.

(2)The person beneficially entitled to the income in respect of which the payment is made must be a non-UK resident company.

(3)The non-UK resident company must carry on a trade in the United Kingdom through a permanent establishment.

(4)The payment must be one that is required to be brought into account in calculating the chargeable profits (within the meaning given by section 19 of CTA 2009) of the non-UK resident company.^F1