Paragraph 8

After section 269ZF insert—

““Relevant profits”

269ZFA

(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.”