Business tax (local); Rates relief; Acquisitions (business); Capital investment; Taxation
Life insurance
Business finance
Corporation tax
Insurance
Business development
en
King's Printer of Acts of Parliament
2020-04-16
SCHEDULES
SCHEDULE 20Controlled foreign companies and foreign permanent establishments
PART 5Transitional provision
56First accounting periods
1
This paragraph applies in relation to a CFC the first accounting period of which is determined in accordance with paragraph 49(2) or 50(4) above.
2
For the purposes of sections 371SD(6), 371SK(3) and 371SM(3) of TIOPA 2010, assume that the CFC became a CFC at the time mentioned in paragraph 49(2) or 50(4) (as the case may be).