ICTA88/SCH25/PARA6(2)

A controlled foreign company which satisfies the requirements set out above will be engaged in exempt activities unless

a) its main business (see INTM254860) during the accounting period in question consists of either

i) ‘investment business’ (see INTM254870), or

ii) dealing in goods for delivery to or from the United Kingdom or to or from connected or associated persons (see INTM254880); or

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