{
  "url": "https://openlegislation.uk/finance-act-2019/schedule-15/paragraph-53",
  "json_url": "https://openlegislation.uk/finance-act-2019/schedule-15/paragraph-53.json",
  "legislation": "ukpga/2019/1",
  "legislation_title": "Finance Act 2019",
  "legislation_url": "https://openlegislation.uk/finance-act-2019",
  "path": "schedule/15/paragraph/53",
  "kind": "paragraph",
  "number": "53",
  "heading": null,
  "text": "(1) The “activated ARFP amount” for a pre-acquisition accounting period is the amount equal to—\n( A / T ) × ARFPwhere—\nA is the amount applied, in relation to the loss period, in accordance with paragraph 25(2)(b) or (3)(b) for the pre-acquisition accounting period,\nT is the unused transferred profits amount for that period, and\n(2) In sub-paragraph (1), “unused transferred profits amount” has the same meaning as it has for the purposes of Steps 1 and 2 of paragraph 44 (see paragraph 46).\n(3) Sub-paragraph (4) applies if, in respect of an earlier loss period—\n(a) an activated transferred profits amount for the pre-acquisition accounting period mentioned in paragraph 26(1) is applied in accordance with paragraph 25(2)(b) or (3)(b), and\n(b) a corresponding repayment is determined under paragraph 26(2) (an “earlier repayment”).\n(4) The amount of the transferred adjusted ring fence profits for the pre-acquisition accounting period is treated, for the purposes of sub-paragraph (1), as being reduced by an amount equal to the total of the activated ARFP amounts for that period for the purposes of each earlier repayment.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2019/1/schedule/15/paragraph/53",
    "retrieved_at": "2026-10-29T09:04:30.296814+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}