Overseas branches

[tom 7000]

A company registered in England has branches in London, Ukraine and Poland. All revenue arose in the UK branch but all 3 branches made a loss. Should the figures from all 3 branches be included in the UK corporation tax return? If the UK branch had made a profit, could the overseas losses be offset against the UK profit? Are the overseas branches subject to tax in their respective countries and how does this impact on the UK tax? Are there any other issues to be considered?

[hashman]

The company is UK resident (I assume) so is taxable on worldwide profits. Losses incurred by the foreign branches would be allowable against UK profits. Branches probably liable to local tax (claim DTR).

[tom 7000]

Thank you

tom