Definition
The CT600B is the supplementary page to the Company Tax Return for controlled foreign companies and hybrid mismatches. It declares the controlled foreign company (CFC) charge, records a foreign permanent establishment exemption election and discloses hybrid and other mismatches.
Who completes it
A UK company that, in the return period:
- holds a relevant interest of at least 25% in a controlled foreign company that is not taken off the page altogether by an exemption;
- is a hybrid entity, had transactions with hybrid entities in the same control group, or had a hybrid or other mismatch or counteraction under Part 6A of TIOPA 2010; or
- is in the first period to which a foreign permanent establishment exemption election applies.
Most owner-managed companies never need it. Box 100 on the CT600 is ticked to say the page is attached.
What it asks for
- Each CFC: its name, any exemption claimed, the company’s percentage share, the chargeable profits, the tax on them, and the creditable tax and reliefs set against it.
- The CFC charge due (B30), which goes to box 490 on the CT600 and is paid with the company’s Corporation Tax.
- The election and mismatch disclosures.
In Tax Optimiser
Complete the page under CFCs & Hybrids in the Corp Tax workspace. The CT600B is filed with the CT600.
Read more: CT600B and controlled foreign companies.