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ESG Diligence: The Key To Sustainable M&A Transactions
AAB / Blog / Controlled Foreign Companies (CFC)
BLOG5th Feb 2013
New CFC provisions have been introduced which came into force for accounting periods beginning on or after 1 January 2013.
The regime imposes a CFC tax charge on the taxable profits of overseas subsidiaries, unless one of the statutory exemptions apply. The CFC charge will be reduced by a credit for any foreign tax paid in respect of the amounts also taxable in the UK.
Contact us to find out more.
How AAB can help you with
Corporate Tax covers a broad and complex area of tax legislation, so we provide a suitably broad and comprehensively experienced team to support your business with pragmatic, commercial advice. Businesses of all sizes and types, and across a wide range of sectors, benefit from our comprehensive corporate tax compliance and advisory service. We have exceptionally knowledgeable tax teams distributed across our offices, ready to support you with their wealth of experience and expertise. We can manage your global tax exposure with a coordinated response that saves you having to seek advice from separate advisors.
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