F1PART 9AControlled foreign companies
Annotations:
Amendments (Textual)
Chapter 2The CFC charge
371BDChargeable companies
1
A company (“C”) which meets the UK residence condition is a chargeable company for the purposes of step 4 in section 371BC(1) if the total of the following percentages is at least 25%—
a
the percentage of the CFC's chargeable profits apportioned to C at step 3 in section 371BC(1), and
b
the percentages (if any) of those profits which are apportioned at that step to relevant persons who, at any time during the accounting period, are connected or associated with C.
2
Subsection (1) is subject to sections 371BE and 371BF.
Pt. 9A inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 20 para. 1 (with ss. 56-58)