Section 938M — Corporation Tax Act 2010: Controlled foreign companies

Controlled foreign companies 938M 1 Section 371SL(1) of TIOPA 2010 (assumption that a CFC is not a member of any group for the purposes of any provision of the Tax Acts) does not apply for the purposes of this Part.

2 References in this Part to a company bringing amounts into account, or not bringing them into account, as debits or credits for the purposes of Part 5 or 7 of CTA 2009 include bringing amounts into account, or not bringing them into account, as debits or credits under that Part in determining the assumed taxable total profits of the company (or in determining that there were no such profits) for the purposes of Part 9A of TIOPA 2010 (controlled foreign companies).