F1PART 9AControlled foreign companies
Chapter 19Assumed taxable total profits, assumed total profits and the corporation tax assumptions
“The corporation tax assumptions”
371SFClaims and elections
1
In relation to any relief under the Corporation Tax Acts which is dependent upon the making of a claim or election, assume the CFC—
a
to have made that claim or election which would give the maximum amount of relief, and
b
to have made that claim or election within any applicable time limit.
2
Subsection (1) does not cover (so far as it would otherwise do so) a claim or election under—
a
section 18A of CTA 2009 (exemption for profits or losses of foreign permanent establishments),
b
section 1275 of CTA 2009 (relief for unremittable income),
c
section 9A of CTA 2010 (designated currency of a UK resident investment company), or
d
regulations made under paragraph 16 of Schedule 8 to FA 2006 (election for lease to be treated as long funding lease).
3
Subsection (1) is also subject to section 371SK(5).
Pt. 9A inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 20 para. 1 (with ss. 56-58)