Section 20: Company with only ring fence profits
85.This section is the second of five that set out the rules for marginal relief. It is based on section 13 of ICTA, section 3 of FA 2007 and section 7 of FA 2008.
86.Three conditions for the reliefare the same as those for entitlement to marginal relief (see the commentary on section 19). But for the purposes of this section the augmented profits must include only ring fence profits.
87.Subsection (2) applies the “ring fence fraction” instead of the standard fraction (see section 19(2)).
