Paragraph 50 Inclusion ratio

United Kingdom

(1)

Section 223 (adjustments) is amended as follows.

(2)

In subsection (7)—

(a)

in paragraph (a), after “group,” insert “, other than ownership interests in respect of which an amount has been excluded from the adjusted profits of the entity,”;

(b)

in paragraph (b), before “profits” insert “adjusted”;

(c)

at the end insert—

“(but if the amount mentioned in paragraph (b) is nil, the adjustment factor is to be taken to be nil).”

(3)

In subsection (8)—

(a)

in paragraph (a), after “made,” insert “, other than ownership interests in respect of which an amount has been excluded from the adjusted profits of the entity,”;

(b)

at the end insert—

“(but if the amount mentioned in paragraph (b) is nil, the adjustment factor is to be taken to be nil).”

(4)

In subsection (9), after “201(2)” insert “and (3)”.