[371BC Charging the CFC charge]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[371BC  Charging the CFC charge]

[(1)     Take the following steps if, as provided for by section 371BA(2), this section applies in relation to a CFC's accounting period.

Step 1

In accordance with Chapter 15, determine the persons (“the relevant persons”) who have relevant interests in the CFC at any time during the accounting period.

If none of the relevant persons is a company which meets the UK residence condition (see subsection (2)), the CFC charge is not charged in relation to the accounting period and no further steps are to be taken.

Step 2

In accordance with Chapter 16, determine the CFC's creditable

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