ÀÏ˾»úÎçÒ¹¸£Àû

As the business of a bank and deposit taker (other than a savings bank) are trades, any profits are chargeable to corporation tax as trading income (see D1.3). If the bank/deposit taker is resident in the UK, the charge is on all its profits wherever arising. If the bank/deposit taker is not resident in the UK it is only liable to corporation tax if it carries on a trade in the UK through a permanent establishment in the UK, and the charge is limited to the profits (wherever arising) attributable to that permanent establishment¹. See D7.704 for details of the computation of profits for banks.

There are, however, a number of specific provisions relating to the taxation of banking companies, as summarised in D7.701. These are discussed below and in the following articles.

Savings banks (except for successors to trustee savings banks²) are investment companies³. They are therefore entitled to deductions for management expenses as described in D7.305–D7.311. The capital allowances for machinery and plant used for the purposes of a trade