{
  "url": "https://openlegislation.uk/finance-act-2026/schedule-8/paragraph-13",
  "json_url": "https://openlegislation.uk/finance-act-2026/schedule-8/paragraph-13.json",
  "legislation": "ukpga/2026/11",
  "legislation_title": "Finance Act 2026",
  "legislation_url": "https://openlegislation.uk/finance-act-2026",
  "path": "schedule/8/paragraph/13",
  "kind": "paragraph",
  "number": "13",
  "heading": "Qualifying current tax expense",
  "text": "(1) Section 174 (amount of covered tax balance) is amended as follows.\n(2) In subsection (5), in the definition of “qualifying current tax expense”, for “underlying profits” substitute “partially adjusted profits”.\n(3) At the end insert—\n“(6) For the purposes of the definition of “qualifying current tax expense” in subsection (5), the member’s “partially adjusted profits” are its underlying profits with the adjustments contained in the following sections applied—\nsection 137A (use of substituted values);\nsection 139 (profits adjusted to be profits before consolidation adjustments to eliminate intragroup transactions);\nsection 140 (profits adjusted to be profits before certain purchase accounting adjustments).”",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2026/11/schedule/8/paragraph/13",
    "retrieved_at": "2026-10-29T08:42:24.914774+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."
}