Under the new rules introduced in 2011, a UK company has the option of making an election such that all profits of non-UK branches would be exempt from Corporation Tax in the UK. Similarly, any losses of non-UK branches would not be available for offset against profits of the UK company. These rules do not apply to profits and losses of a company whose business constitutes primarily investment activities.
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Thanks, ***** ***** need to include any figures and amounts of branch profit or loss in my annual accounts and CT600?
A UK company with a non-UK branch (or branches) must opt into the regime by making an election. There is a cooling off period, which ends on the filing date for the tax return for the first accounting period in which the exemption will have effect, following which the effect of the election is permanent.
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Hi, so why is it a good practice to adopt co-terminus accounting period end (both having same year end). Thanks.
Can the branch use LTD vat registration for activities when trading in EU?
Gerard, thank you for your reply.This question is outside and not related to your original question. You should put fres question as per JustAnswer rules.I will answer on this occasion only .. No you can't use the LTD VAT registration for activities undertaken by it from within a different EU country.
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