Paragraph 8

After section 279D insert—

“The remaining amount

279DA

(1)

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

$$(\mathrm{UZ}-\mathrm{AZ})\times \frac{\mathrm{NZ}}{\mathrm{AZ}}$$

(2)

In this section—

• UZ is the amount given by multiplying the upper limit by—

  $$\frac{AZ}{A}$$

• AZ is the total amount of any profits other than ring fence profits that form part of the augmented profits of the accounting period,

• NZ is the total amount of any profits other than 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.”