F1PART 9AControlled foreign companies
Chapter 20Residence of CFCs
371TAThe basic rule
(1)
For the purposes of this Part a CFC is taken to be resident for an accounting period (“the relevant accounting period”) in—
(a)
the territory determined by applying section 371TB, or
(b)
if no territory can be determined by applying that section—
(i)
if subsection (2) applies, the territory in which the CFC is taken to be resident under the double taxation arrangements in question, or
(ii)
otherwise, the territory in which the CFC is incorporated or formed.
(2)
This subsection applies if the CFC is incorporated or formed in the United Kingdom but is taken to be non-UK resident by virtue of section 18 of CTA 2009 (companies treated as non-UK resident under double taxation arrangements).
(3)
This section is subject to section 371KC and step 1 in section 371NB(1).