[F1371QFVariable shareholdingsU.K.
(1)This section applies if the percentage of the issued ordinary shares in the CFC represented by a relevant person's relevant interest varies during the accounting period.
(2)That percentage is taken to be the percentage equal to the sum of the relevant percentages for each holding period.
(3)“Holding period” means a part of the accounting period during which the percentage of the issued ordinary shares in the CFC represented by the relevant person's relevant interest remains the same.
(4)“Relevant percentage”, in relation to a holding period, means the percentage given by the following formula—
where—
P is the percentage of the issued ordinary shares in the CFC represented by the relevant person's relevant interest during the holding period,
H is the number of days in the holding period, and
A is the number of days in the accounting period.]
Textual Amendments
F1Pt. 9A inserted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 20 para. 1 (with ss. 56-58)