SCHEDULES
SCHEDULE 3Corporation tax: the non-corporate distribution rate: supplementary provisions
Part 2Allocation of excess NCDs to other companies
Allocation of excess NCDs to other companies
6
1
This Part of this Schedule provides for the allocation to other companies of any amount by which the total amount of the non-corporate distributions made (or treated as made) by a company (the “distributing company”) in an accounting period (the “distribution period”) exceeds the amount of the company’s basic profits for that period that are matched under paragraph 5.
2
That amount is referred to in this Schedule as “excess NCDs”.
3
A company to which an amount of excess NCDs is allocated (a “recipient company”) is treated as if it had made a non-corporate distribution of that amount in the period to which it is allocated.