[F1371SCWhat are “the corporation tax assumptions”?U.K.
This section has no associated Explanatory Notes
(1)In this Part “the corporation tax assumptions” means the assumptions set out in sections 371SD to 371SR.
(2)The corporation tax assumptions are to be applied in determining the following for an accounting period (“the relevant accounting period”) of a CFC—
(a)the CFC's assumed taxable total profits in accordance with section 371SB(1),
(b)the corresponding UK tax in accordance with section 371NE, and
(c)the CFC's creditable tax in accordance with Chapter 16.]
Textual Amendments
F1Pt. 9A inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 20 para. 1 (with ss. 56-58)