SCHEDULES

SCHEDULE 1 U.K.Small profits rate for non-ring fence profits

PART 2 U.K.Amendments of Chapter 3A of Part 8 of CTA 2010

7 (1) Section 279C (company with ring fence profits and other profits) is amended as follows. U.K.

(2) In subsection (1), after paragraph (a) insert—

“(ab) it is not a close investment-holding company in the period,”.

(3) For subsection (2) substitute—

“(2) The corporation tax charged on the company's taxable total profits of the accounting period is reduced by the total of—

(a) the sum equal to the ring fence marginal relief fraction of the ring fence amount, and

(b) the sum equal to the standard marginal relief fraction of the remaining amount.”