Commentary

D4.455 Specified CFC reliefs prior to July 2015

Corporate tax
Corporate tax | Commentary

D4.455 Specified CFC reliefs prior to July 2015

Corporate tax | Commentary

Reliefs against assessed CFC tax

D4.455 Specified CFC reliefs prior to July 2015

The provisions in this article were repealed from 8 July 2015. Where a company's accounting period straddled this date it was split into two accounting periods so that the CFC profits could be allocated between the two periods. The allocation was made on a just and reasonable basis so that, for example, profits which arise after the commencement date were allocated entirely to the later period.

A company resident in the UK which was assessed to CFC tax for an accounting period could claim a reduction in the amount of that tax in respect of specified reliefs ('relevant allowances'). The relief was

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