The Finance Act 2003, Paragraph 3(3) of Schedule 26, (Designated Transactions) Regulations 2007
Section 150 of the Finance Act 2003 (c. 14) (non-resident companies: assessment, collection and recovery of corporation tax) imposes obligations on the UK representative of a non-resident company in relation to corporation tax. For this purpose, a permanent establishment of the non-resident company through which it carries on a trade is the UK representative of the non-resident company. The meaning of the expression “permanent establishment” is explained in section 148 of the Finance Act 2003; section 148(3) provides that a company is not regarded as having a permanent establishment in a territory by reason of the fact that it carries on business there through an agent of independent status.