Part 4: Income tax, corporation tax and capital gains tax Section 36: CFC charge: abolition of relief Summary
This section introduces an amendment to the Controlled Foreign Companies (CFC) legislation in Part 9A of Taxation (International and other Provisions) Act (TIOPA) 2010. The amendment removes the ability for UK companies to set UK losses and expenses against a CFC charge. The amendment will have effect from 8 July 2015.