{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-938M",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-938M.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/938M",
  "kind": "section",
  "number": "938M",
  "heading": "Controlled foreign companies",
  "text": "(1) Section 371SL(1) of TIOPA 2010 (assumption that a CFC is not a member of any group for the purposes of any provision of the Tax Acts) does not apply for the purposes of this Part.\n(2) References in this Part to a company bringing amounts into account, or not bringing them into account, as debits or credits for the purposes of Part 5 or 7 of CTA 2009 include bringing amounts into account, or not bringing them into account, as debits or credits under that Part in determining the assumed taxable total profits of the company (or in determining that there were no such profits) for the purposes of Part 9A of TIOPA 2010 (controlled foreign companies).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 21B inserted (with effect in accordance with Sch. 5 para. 6 of the amending Act) by Finance Act 2011 (c. 11), Sch. 5 para. 2"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 938M(1) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 20 para. 39(2)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 938M(2) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 20 para. 39(3)(a)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 938M(2) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 20 para. 39(3)(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/938M",
    "retrieved_at": "2026-10-29T09:10:29.433154+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}