PART 3

Diverted profits tax

Calculation of taxable diverted profits: section 80 or 81 cases

Section 80 or 81: calculation of profits by reference to the actual provision
84
1
This section applies where—
a
section 80 or 81 applies in relation to a company for an accounting period,
b
the actual provision condition is met, and
c
section 83 (cases where no taxable diverted profits arise) does not apply for that period.
2
In relation to the material provision in question, the taxable diverted profits that arise to the company in the accounting period are an amount equal to so much of the diverted profits of the company for the accounting period as are not taken into account in an assessment to corporation tax included before the end of the review period in the company’s company tax return for that accounting period.
Words in s. 84(2) substituted (with effect in accordance with Sch. 6 para. 8 of the amending Act) by Finance Act 2019 (c. 1), Sch. 6 para. 4