HC Deb 07 July 2004 vol 423 c870

Amendment made: No. 71, in page 24, line 10, at end insert


(c) at the end of the paragraph insert—

"(7) In determining for the purposes of sub-paragraph (1) above the amount that would be taken for tax purposes to be the amount of the profits or losses for a year of assessment in the case of a person who is not resident in the United Kingdom, there shall be left out of account any income of that person which is—

  1. excluded income for the purposes of section 128 of the Finance Act 1995 (limit on income chargeable on nonresidents: income tax), or
  2. income to which section 151 of the Finance Act 2003 applies (non-resident companies: extent of charge to income tax).".'.—[Dawn Primarolo.

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