# Corporation Tax Act 2010, Section 18L: Meaning of “augmented profits”


(1) For the purposes of this Part a company's “augmented profits” of an accounting period are—
(a) the company's taxable total profits of that period, plus
(b) any exempt distributions of a qualifying kind received by the company (“R”) that are not excluded.
(2) For the purposes of this section a distribution is an “exempt distribution of a qualifying kind” if—
(a) it is a distribution for the purposes of the Corporation Tax Acts because (and only because) it falls within paragraph A, B, G or H in section 1000(1), and
(b) it is exempt for the purposes of Part 9A of CTA 2009 (company distributions).
(3) For the purposes of this section a distribution which R receives from a company (“C”) is excluded if—
(a) C is a 51% subsidiary of R or of a company of which R is a 51% subsidiary, or
(b) C is a trading company or relevant holding company that is a quasi-subsidiary of R.
(4) Section 18M—
(a) makes further provision for determining whether a company is a 51% subsidiary of another for the purposes of subsection (3), and
(b) defines expressions used in that subsection.

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/18L (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-18L
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.