Version Superseded: 17/07/2014
Point in time view as at 01/04/2010. This version of this provision has been superseded.
Corporation Tax Act 2010, Section 21 is up to date with all changes known to be in force on or before 12 June 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)This section applies if—
(a)a company is UK resident in an accounting period,
(b)it is not a close investment-holding company in the period,
(c)its augmented profits of the accounting period—
(i)exceed the lower limit, but
(ii)do not exceed the upper limit, and
(d)its augmented profits of that period consist of both ring fence profits and other profits.
(2)The corporation tax charged on the company's taxable total profits of the accounting period is reduced by the total of—
(a)the sum equal to the ring fence fraction of the ring fence amount, and
(b)the sum equal to the standard fraction of the remaining amount.
(3)In this Part “ring fence profits” has the same meaning as in Part 8 (see section 276).
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