CFCs Flashcards
1
Q
Conditions (2)
A
- Uk company owns >25% of interest
- Controlled in the UK
2
Q
Exemptions (5)
A
- Exempt for first 12 months of being a CFC
- CFC is in excluded territory
- CFC’s profits are 75% of UK CT
3
Q
Calculation of UK CT payable
A
UK’s % of CFC profits
Less: DTR
Less: UK CT already paid by CFC
= CFC charge
