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Taxation (International and Other Provisions) Act 2010

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Changes over time for: Section 371HA

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Point in time view as at 15/09/2016.

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There are currently no known outstanding effects for the Taxation (International and Other Provisions) Act 2010, Section 371HA. Help about Changes to Legislation

[F1371HAThe basic ruleU.K.

This section has no associated Explanatory Notes

(1)The CFC's profits falling within this Chapter for the purposes of step 2 in section 371BB(1) (the CFC charge gateway) are any amounts included in its assumed total profits which are not also included in the CFC's relevant profits amount.

(2)The CFC's “relevant profits amount” is what the relevant profits amount would be for the purposes of Chapter 3A of Part 2 of CTA 2009 (see section 18A(6) of that Act) in relation to the CFC were that amount to be determined as if—

(a)the CFC were a permanent establishment in a territory outside the United Kingdom of the UK resident company mentioned in section 371CG(2)(b) or the UK resident bank mentioned in section 371CG(3), and

(b)the CFC's accounting period were a relevant accounting period of that UK resident company or UK resident bank for the purposes of that Chapter.]

Textual Amendments

F1Pt. 9A inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 20 para. 1 (with ss. 56-58)

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