269ZFA“Relevant profits”

1

A company’s “relevant profits” for an accounting period are—

a

the company’s qualifying profits for the accounting period, less

b

the company’s deductions allowance for the accounting period (see section 269ZD(6)).

2

A company’s “qualifying profits” for an accounting period are—

a

the amount given by paragraph (1) of step 1 in section 269ZF(3) in determining the company’s qualifying trading profits and qualifying non-trading profits for the accounting period, less

b

the amount given by paragraph (1) of step 2 in section 269ZF(3) in determining those profits for the accounting period.