SCHEDULES

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

PART 4 U.K.Commencement provision

Commencement provision relating to controlled foreign companies etc U.K.

49 (1) The CFC charge is charged in relation to accounting periods of CFCs beginning on or after 1 January 2013. U.K.

(2) The first accounting period of a company which is a CFC at the beginning of 1 January 2013 begins at that time.

(3) Sub-paragraph (2) is subject to paragraph 50 below.

(4) This paragraph is to be read as if contained in Part 9A of TIOPA 2010.