A company1 resident2 in the United Kingdom3 is chargeable to corporation tax on income on:
(1) all its profits4 wherever arising5;
(2) profits accruing for its benefit under any trust, or arising under any partnership, in any case in which it would be so chargeable if the profits accrued to it directly6; and
(3) profits arising in the winding up of the company7.
For this purpose, 'profits' means income and chargeable gains, except in so far as the context otherwise requires8. A company which is resident in the United Kingdom in an accounting period is chargeable to corporation tax on
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