My client is a Hong Kong resident company that runs a UK property business, and this is their only activity. Can my non-resident company client benefit from the small profits rates and marginal relief for corporation tax purposes?

Corporate landlords that generate income from UK land and property were brought within the scope of UK corporation tax from April 2020 under section 5, Corporation Tax Act 2009.

As a result, these entities will be impacted by the recent corporation tax rate changes, an overview of which can be found here in a previous tax question of the week.