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Version status: Deleted | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2012 - onwards
  Version 5 of 5    

449. Credit for foreign tax not otherwise credited.

Deleted from 1 January 2012

(1) In this section -

"an amount receivable from the sale of goods" means an amount which -

(a) being an amount receivable from the sale of computer software, or

(b) by virtue of section 443(10)(b)(ii), 445(9)(b) or 446(10)(b),

is regarded as receivable from the sale of goods for the purposes of relief under this Part;

"relevant foreign tax", where borne by a company in respect of an amount receivable from the sale of goods, means tax -

(a) which under the laws of any foreign territory has been deducted from that amount,

(b) which corresponds to income tax or corporation tax,

(c) which has not been repaid to the company,

(d) for which credit is not allowable under arrangements within the meaning of Schedule 24, and

(e) which is not treated under Schedule 24 as reducing the amount of any income;

"the total amount receivable from the sale of goods", in relation to a company in the course of a trade in a relevant accounting period, means the aggregate of amounts, receivable by the co

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