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 CT & VAT, International CT (see INTM215550 onwards)
A detailed list of the topics covered is given in the table of contents at INTM215000.
