INTM215010 - Controlled Foreign Companies: before CTSA

Controlled Foreign Companies: before CTSA - overview

Before the introduction of self assessment for corporation tax, a direction from the Board of HM Revenue & Customs was needed to charge a UK company under Chapter IV Part XVII ICTA 1988 in respect of the profits of a controlled foreign company. Under self assessment, companies are obliged to make their own assessment of any liability relating to controlled foreign companies as part of their tax return. The introduction of self assessment does not change the principles of Chapter IV. However, some aspects of procedure have changed.

This chapter explains the key features of the Chapter IV regime which applied before the introduction of self assessment for companies.

The main topics covered are:

• information powers (see INTM215020 onwards)
• notices of direction (see INTM215090 onwards)
• notices of declaration (see INTM215250 onwards)
• apportionment (see INTM215290 onwards)
• assessment (see INTM215360 onwards)
• reliefs and losses (see INTM215430 onwards)
• reports and submissions to Business International, Outward Investment team (see INTM215550 onwards)

A detailed list of the topics covered is given in the table of contents at INTM215000.