Corporation Tax Act 2009 section 1275

Claim for relief for unremittable income

Section 1275 allows a company to claim relief so that unremittable income is excluded from its corporation tax liability, subject to certain conditions and time limits.

• A company can claim relief to have unremittable income excluded from its taxable profits for the accounting period in which it arises
• Relief can be withdrawn at a later date if circumstances change (under the provisions of section 1276)
• No claim can be made if the company has already received a payment from the Export Credits Guarantee Department (ECGD) in relation to that income
• The claim must be submitted within 2 years after the end of the accounting period in which the income arises