Schedule 20 - Controlled foreign companies and foreign permanent establishments

Part of Finance Bill – in a Public Bill Committee am 4:45 pm ar 19 Mehefin 2012.

Danfonwch hysbysiad imi am ddadleuon fel hyn

‘First accounting periods

49A (1) This paragraph applies in relation to a CFC the first accounting period of which is determined in accordance with paragraph 43(2) or 44(4) above.

(2) For the purposes of sections 371SD(6), 371SK(3) and 371SM(3) of TIOPA 2010, assume that the CFC became a CFC at the time mentioned in paragraph 43(2) or 44(4) (as the case may be).