Controlled Foreign Companies

Certain information which is required for Transfer Pricing is also used in respect of the documentation required for Controlled Foreign Companies (CFC).

All companies with overseas subsidiaries need to complete documentation and submit to HMRC giving reasons why a company may be regarded as a CFC and the reasons why tax or no tax is payable.

Additional information not collected for Transfer Pricing purposes include

� Profit before taxation

� Other Income

� Exchange differences

� Finance charges

� Investment Gains / Loss

� Dividends

Reports are required for

� Reported Companies - Exempt Activity Summary

� Reported Companies � Premises, Employees, Local Management

� Not Reported Companies � Excluded Country Income and Gains summary and detail

� Not UK control, not low tax, UK resident

� Consolidated Groups Profit and Loss breakdown

TROPICAL will provide the necessary documentation for you to be able to back up any non reported companies and justification for all reported companies

UK Tax Resident Companies
Provision has also been made for details of UK tax resident companies information to be recorded. This includes tax reference, district, date last submitted computations, queries and other shareholder information.