This section has no associated Explanatory Notes
2(1)Section 371BC of TIOPA 2010 (charging the CFC charge) is amended as follows.U.K.
(2)In subsection (3), in the definition of “the appropriate rate”, after “subject to” insert “ subsection (4) and ”.
(3)After subsection (3) insert—
“(4)In determining “the appropriate rate”, it must be assumed that all of CC's profits of the relevant corporation tax accounting period on which corporation tax is chargeable are chargeable at the main rate rather than the Northern Ireland rate.”