INTM215030 - Controlled Foreign Companies:
before CTSA
Information powers: definitions
ICTA88/S755 (1) and (2)
The Board can use its information powers for periods prior to
self assessment to get facts from a corporate body only. This body
must be a 'controlling company' of a 'foreign subsidiary'. For this
purpose
- a 'foreign subsidiary' is any company not
resident in the United Kingdom
- a 'controlling company', in relation to a
foreign subsidiary or any other company, is a resident United
Kingdom company that has control of the other company. The control
can be alone or together with other United Kingdom resident
persons. These persons do not have to be connected or
associated.
ICTA88/S755 cannot be used to get information from a third
party.
The Board has two information powers:
- the power to ask companies to give it
particulars – see
INTM215040
- the power to ask companies to let it see
documents – see
INTM215050
