Explanatory Notes

Corporation Tax Act 2010

2010 CHAPTER 4

3 March 2010

Introduction

Part 3: Companies with small profits

Section 22: The ring fence amount

91.This section is the fourth of five that set out the rules for marginal relief. It is based on section 3 of FA 2007 and section 7 of FA 2008.

92.The section calculates the marginal relief available on the ring fence amount. It uses the appropriate part (“UR”) of the upper limit.