SCHEDULES

SCHEDULE 20Controlled foreign companies and foreign permanent establishments

PART 5Transitional provision

Designer rate tax provisions

59

1

The Controlled Foreign Companies (Designer Rate Tax Provisions) Regulations 2000 (S.I. 2000/3158) are to have effect for the purposes of section 371ND of TIOPA 2010 as if they had been made by the HMRC Commissioners under that section.

2

The power of the HMRC Commissioners to make regulations under that section includes power to revoke or amend the 2000 Regulations for the purposes of that section.