Modifications etc. (not altering text)
C1Pt. 14 applied (1.4.2022 in relation to accounting periods beginning on or after that date) by Finance Act 2022 (c. 3), s. 51(1), Sch. 7 para. 20
C2Pt. 14 applied (with modifications) (14.7.2022) by Energy (Oil and Gas) Profits Levy Act 2022 (c. 40), Sch. 1 para. 18 (with ss. 15(1), 16(1), 17)
Textual Amendments
F1Pt. 14 Ch. 2B inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 76
(1)In this Chapter, the amount of any profits which represents a relevant gain is found by comparing—
(a)the amount (“Y”) of the relevant gain, with
(b)the amount (“Z”) which is included in respect of chargeable gains or, as the case may be, non-trading chargeable realisation gains for the accounting period concerned.
(2)If Y does not exceed Z, the amount of the profits which represents the relevant gain equals Y.
(3)If Y exceeds Z, the amount of those profits equals Z.]