Legislation – Finance Act 2021

“(ab)

it is not a close investment-holding company in the period,”.

“279DAThe remaining amount

(1)

In section 279C “the remaining amount” means the amount given by the formula—

$(\mathrm{UZ}-\mathrm{AZ})\times \frac{\mathrm{NZ}}{\mathrm{AZ}}$

(2)

In this section—

• UZ is the amount given by multiplying the upper limit by—

  $\frac{AZ}{A}$

• AZ is the total amount of any profits other than ring fence profits that form part of the augmented profits of the accounting period,

• NZ is the total amount of any profits other than ring fence profits that form part of the taxable total profits of the accounting period, and

• A is the amount of the augmented profits of the accounting period.”

“Supplementary

279EAInterpretation etc

(1)

The rules in Part 3A (see sections 18E to 18J) which apply for determining whether a company is another company’s associated company in an accounting period for the purposes of section 18D apply for the purposes of section 279E.

(2)

Section 18K (power to obtain information) applies for the purposes of this Part as it applies for the purposes of Part 3A.

(3)

For the purposes of this Chapter—

“augmented profits” has the same meaning as in Part 3A (see sections 18L and 18M), and

“close investment-holding company” has the same meaning as in that Part (see section 18N).”