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.