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The Controlled Foreign Companies (Excluded Countries) Regulations 1998

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Citation, commencement and effect

1.—(1) These Regulations may be cited as the Controlled Foreign Companies (Excluded Countries) Regulations 1998, shall come into force on 31st December 1998, and shall have effect with respect to any appropriate accounting period of a relevant company.

(2) In this regulation–

“appropriate accounting period” means an accounting period ending on or after the day to be appointed under section 199 of the Finance Act 1994(1) (corporation tax self-assessment);

“relevant company” means a company resident in the United Kingdom that had a relevant interest in a controlled foreign company at any time during an accounting period of the controlled foreign company ending in an appropriate accounting period of the relevant company;

“relevant interest” shall be construed in accordance with section 752A(2) of the Taxes Act.


1994 c. 9. The day to be appointed under section 199 of the Finance Act 1994 is 1st July 1999.


Sections 752 to 752C were substituted for section 752 by paragraph 7 of Schedule 17 to the Finance Act 1998.

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