Section 279D The ring fence amountF1

(1)

In section 279C “the ring fence amount” means the amount given by the formula—

(UR - AR) \times (\frac{NR}{AR})

(2)

In this section—

\frac{AR}{A}

UR is the amount given by multiplying the upper limit by—

AR is the total amount of any ring fence profits that form part of the augmented profits of the accounting period,

NR is the total amount of any ring fence profits that form part of the taxable total profits of the accounting period, and

A is the amount of the augmented profits of the accounting period.

Annotations

F1: Pt. 8 Ch. 3A inserted (with effect in accordance with Sch. 1 para. 22 of the amending Act) by Finance Act 2014 (c. 26), Sch. 1 para. 5(3)