318Reduction in respect of unrelieved group ring fence profits
This section has no associated Explanatory Notes
(1)This section applies if there is an amount of unrelieved group ring fence profits for a pre-commencement period.
(2)For the purpose of allocating qualifying pre-commencement expenditure to the pool for that period—
(a)find so much (if any) of amount E for that period as remains after any reduction falling to be made under section 317, and
(b)reduce that amount (but not below nil) by setting against it a sum equal to the aggregate of the amounts of unrelieved group ring fence profits for the period.