Finance Act 2019

The total TTH amount

3 (1) The total TTH amount may comprise—

(a) an amount representing the seller’s eligible ring fence profits for the reference accounting period, and

(b) amounts representing the seller’s eligible ring fence profits for so many of the preceding accounting periods ending on or after 17 April 2002 as the seller and purchaser may determine.

(2) Sub-paragraph (1) is subject to—

(a) paragraph 4 (limits on total TTH amount),

(b) paragraph 11 (consecutive accounting periods), and

(c) paragraph 12 (the transferred profits amount for an accounting period).

(3) See—

(a) paragraph 13 for the meaning of “eligible ring fence profits”, and

(b) paragraph 102 for the meaning of “reference accounting period” in relation to the seller.