Double taxation relief
In this lesson, you'll learn how double taxation relief applies to corporation tax when UK resident companies pay tax on both their worldwide income and overseas income.
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In this lesson
- 0:00 Double taxation relief for corporation tax
- 0:20 How corporation tax applies to worldwide income
- 0:47 Unilateral relief method explained
About this lesson
You'll discover the unilateral relief method—the approach you'll use in your exams—which simply means taking the lower of the overseas tax paid or the equivalent UK tax liability. This is essential knowledge for the TX and ATX papers, where you'll need to correctly adjust corporation tax calculations when your clients have foreign income.
Duration: 1m
Transcript
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