Section 1138B | Exempt foreign permanent establishments

For the purposes of this Part in its application to an accounting period, a company’s expenditure is “attributable to an exempt foreign permanent establishment” if—^F1

(a)an election by the company under section 18A applies to the period, and^F1

(b)the expenditure is brought into account in calculating a relevant profits amount or a relevant losses amount for the purposes of that section as it applies in relation to the period.^F1