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HMRC internal manual

International Manual

From
HM Revenue & Customs
Updated
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Controlled Foreign Companies: guidance relating to superseded legislation

Exempt activities test: wholesale, distributive or financial business - accounting periods beginning before 17 March 1998For accounting periods beginning before 17 March 1998 the definition of ‘banking etc business’ is ‘banking or any similar business involving the receipt of deposits, loans or both and the making of loans or investments’.