Corporation Tax Act 2009 section 3

Exclusion of charge to income tax

Section 3 ensures that a company's income is not subject to both income tax and corporation tax at the same time.

• UK-resident companies are excluded from the income tax charge on their income
• Non-UK-resident companies are also excluded from income tax where they are chargeable to corporation tax on that income, or would be but for an exemption
• The exclusion does not apply to income a company receives in a fiduciary or representative capacity, such as when acting as a trustee or agent
• The effect is to prevent double taxation of the same income under both the income tax and corporation tax regimes