Section 938L | Foreign companies and foreign permanent establishments

(1)References in this Part to a company not bringing amounts into account as debits or credits for the purposes of Part 5 or 7 of CTA 2009 do not include the company not bringing amounts into account by virtue of—

(a)the company being non-UK resident, or

(b)an election under section 18A of CTA 2009 (profits or losses of foreign permanent establishments).

(2)See section 938M for provision about controlled foreign companies.