INTM215020 - Controlled Foreign Companies: before CTSA

Information powers: overview

Before the introduction of self assessment for corporation tax, a direction from the Board of HM Revenue & Customs was needed to charge a United Kingdom company under Chapter IV Part XVII ICTA 1988 in respect of the profits of a controlled foreign company.

The legislation includes information powers which can be used by the Board for accounting periods prior to the introduction of self assessment to get enough facts to determine whether a company is a controlled foreign company, to find out whether a direction should be made and to help work out the tax to be paid. The following pages give further detail on these provisions:

As far as the self assessment regime is concerned, INTM216000 provides guidance on the management of groups with significant numbers of controlled foreign companies.