Introduction Overview Overview Section 9: Non-UK resident company preparing return of accounts in currency other than sterling
58.This section sets out the fourth special rule. It is based on sections 92C and 92E of FA 1993.
59.This special rule applies to a non-UK resident company which trades in the United Kingdom through a permanent establishment, and which in the preparation of its return of accounts for the permanent establishment has prepared its accounts in a currency which is not sterling.
60.When this special rule applies, profits or losses (adjusted to comply with corporation tax rules) must be translated from the accounts currency into sterling.