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Corporation Tax Act 2010

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Changes over time for: Cross Heading: Marginal relief

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Version Superseded: 17/07/2014

Alternative versions:

Status:

Point in time view as at 31/01/2013.

Changes to legislation:

Corporation Tax Act 2010, Cross Heading: Marginal relief is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Marginal reliefU.K.

19Marginal reliefU.K.

(1)This section applies if—

(a)a company is UK resident in an accounting period,

(b)it is not a close investment-holding company in the period,

(c)its augmented profits of the accounting period—

(i)exceed the lower limit, but

(ii)do not exceed the upper limit, and

(d)its augmented profits of the period do not include any ring fence profits.

(2)The corporation tax charged on the company's taxable total profits of the accounting period is reduced by an amount equal to—

where—

F is the standard fraction,

U is the upper limit,

A is the amount of the augmented profits, and

N is the amount of the taxable total profits.

(3)In this Part “the standard fraction” means the fraction set by Parliament as the standard fraction for the purposes of this Part.

20Company with only ring fence profitsU.K.

(1)This section applies if—

(a)a company is UK resident in an accounting period,

(b)it is not a close investment-holding company in the period,

(c)its augmented profits of the accounting period—

(i)exceed the lower limit, but

(ii)do not exceed the upper limit, and

(d)its augmented profits of the period consist exclusively of ring fence profits.

(2)The corporation tax charged on the company's taxable total profits of the accounting period is reduced by an amount equal to—

where—

R is the ring fence fraction,

U is the upper limit,

A is the amount of the augmented profits, and

N is the amount of the taxable total profits.

(3)In this Part “the ring fence fraction” means the fraction set by Parliament as the ring fence fraction for the purposes of this Part.

21Company with ring fence profits and other profitsU.K.

(1)This section applies if—

(a)a company is UK resident in an accounting period,

(b)it is not a close investment-holding company in the period,

(c)its augmented profits of the accounting period—

(i)exceed the lower limit, but

(ii)do not exceed the upper limit, and

(d)its augmented profits of that period consist of both ring fence profits and other profits.

(2)The corporation tax charged on the company's taxable total profits of the accounting period is reduced by the total of—

(a)the sum equal to the ring fence fraction of the ring fence amount, and

(b)the sum equal to the standard fraction of the remaining amount.

(3)In this Part “ring fence profits” has the same meaning as in Part 8 (see section 276).

22The ring fence amountU.K.

(1)In section 21 “the ring fence amount” means the amount given by the formula—

(2)For the purposes of this section—

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

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

  • NR is the total amount of any 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.

23The remaining amountU.K.

(1)In section 21 “the remaining amount” means the amount given by the formula—

(2)For the purposes of this section—

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

  • 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.

Yn ôl i’r brig

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