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Paragraph 66 Minor amendments

United Kingdom

In section 220 (top-up amount of investment entity)—

(a)

in subsection (1)—

(i)

in Step 8, after “entity” insert “, unless the entity has a positive undistributed income amount (see sections 214 and 215) for the period (in which case proceed to Step 9), and

(ii)

after that Step insert—

  • “Step 9

    Where this Step applies, the top-up amount for the entity is the sum of—

    1. (a)

      the result of Step 8, and

    2. (b)

      the positive undistributed income amount for the entity for the period multiplied by 15%.”, and

(b)

omit subsection (2).