Section 78: Overview of Part 3
Summary
1.This section provides an overview of the Part.
Details of the Section
2.Subsections (1) and (2) provide an overview of circumstances within sections 80 and 81 and how the charge is calculated in those circumstances.
3.Subsections (3) to (5) provide an overview of circumstances within section 86 and how the charge is calculated in those circumstances.
4.Subsection (6) signposts key definitions.
5.Subsection (7) provides an overview of other provisions in the Part.
Background Note
6.The diverted profits tax is a new charge on diverted profits. The main objective is to counteract contrived arrangements used by large groups (typically multinational enterprises) that result in the erosion of the UK tax base.
