Finance Act 2012 (c. 14)

SCHEDULES

SCHEDULE 20 U.K. Controlled foreign companies and foreign permanent establishments

PART 5 U.K. Transitional provision

Designer rate tax provisions U.K.

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. U.K.

(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.