INTM198300 - Controlled Foreign Companies: The CFC Charge Gateway Chapter 3 - Determining which (if any) of Chapters 4 to 8 apply: Does Chapter 7 apply?

Does Chapter 7 apply? (TIOPA10/S371CF)

Chapter 7 (captive insurance business) applies for a CFC바카라 사이트™s accounting period only if at any time during that period the main part of the CFC바카라 사이트™s business is insurance business, and its assumed total profits include amounts derived (directly or indirectly) from contracts of insurance entered into with:

  • A UK resident company connected with the CFC;
  • A non-UK resident company connected with the CFC and acting through a UK permanent establishment; or
  • A UK resident person where the contract is linked (directly or indirectly) to the provision of goods or services to the UK resident person by a UK connected company. This excludes services provided as part of insurance business.

If Chapter 7 applies see INTM210000 for further guidance on how to calculate the chargeable profits.