At the first two sittings of the public bill committee (PBC) on 27 November, an amendment was made to Sch 1 (disposals by non-UK residents etc). Seven other cls were agreed without amendment.
The amendment to Sch 1 removes CTA 2009 s 2(2A), which currently excludes companies’ gains from the disposal of residential property from corporation tax, either because they are chargeable to ATED-related CGT, or because the company is not UK resident. This reflects the abolition of ATED-related CGT as a consequence of the new rules bringing all non-resident companies’ gains from disposals of interests in UK land within the scope of corporation tax.
Agreed without amendment were:
The PBC will sit next on Thursday 29 November.
At the first two sittings of the public bill committee (PBC) on 27 November, an amendment was made to Sch 1 (disposals by non-UK residents etc). Seven other cls were agreed without amendment.
The amendment to Sch 1 removes CTA 2009 s 2(2A), which currently excludes companies’ gains from the disposal of residential property from corporation tax, either because they are chargeable to ATED-related CGT, or because the company is not UK resident. This reflects the abolition of ATED-related CGT as a consequence of the new rules bringing all non-resident companies’ gains from disposals of interests in UK land within the scope of corporation tax.
Agreed without amendment were:
The PBC will sit next on Thursday 29 November.