INTM209190 - Controlled Foreign Companies: Computation of Chargeable Profits and Creditable Tax

Limitations on scope of ICTA88/SCH24/PARA9

Claims under ICTA88/SCH24/PARA9 are competent only in respect of trading losses (or charges treated as losses - ICTA88/S393(9)). No relief is due in respect of management expenses brought forward from accounting periods prior to the first period for which an apportionment falls to be made (ICTA88/S75(3)).