INTM215230 - Controlled Foreign Companies: before CTSA

Notice of direction: procedure following revision of chargeable profits or creditable tax

The Inspector may find out that the amount of the chargeable profits or creditable tax given in a notice of direction is incorrect. If so, a notice of the correct amount must be issued - see ICTA88/S753 (6) and INTM215140. The Inspector should use form CT 14(Z) Revision to issue this notice. The form CT14(Z) Revision can be obtained from CT & VAT, International CT.