INTM224100 - Controlled Foreign Companies: Entity Exemptions: Chapter 10 - The Exempt Period Exemption: contents

The Exemption Period Exemption provides an entity-level exemption for CFCs that have come under UK control for the first time. The period of exemption is temporary, usually 12 months.

A chargeable company has to list any CFCs relying on this exemption on its corporation tax return

1. INTM224150

   Introduction
2. INTM224175

   The basic rule
3. INTM224200

   When does an exempt period begin?
4. INTM224250

   How long is an exempt period?
5. INTM224260

   Subsequent period condition
6. INTM224270

   Chargeable company condition
7. INTM224300

   Adjustment of profits passing through the CFC charge gateway
8. INTM224325

   Extension to the exempt period granted
9. INTM224350

   Anti-Avoidance
10. INTM224400

    Amendment of company tax returns
11. INTM224450

    Transitional provision - Interaction with Temporary Period Exemption