{
  "url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-A2/paragraph-18",
  "json_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-A2/paragraph-18.json",
  "legislation": "ukpga/1988/1",
  "legislation_title": "Income and Corporation Taxes Act 1988",
  "legislation_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988",
  "path": "schedule/A2/paragraph/18",
  "kind": "paragraph",
  "number": "18",
  "heading": null,
  "text": "In section 13AB and this Schedule—\n“basic profits” means the amount of a company’s profits for an accounting period on which corporation tax finally falls to be borne;\n“corresponding accounting period”, in relation to a recipient company, has the meaning given by paragraph 8;\n“distributing company” has the meaning given by paragraph 6(1);\n“distribution” does not include an amount treated as a dividend under paragraph 2(2) of Schedule 23A (manufactured dividends and interest);\n“distribution period” has the meaning given by paragraph 6(1); and\n“excess NCDs” has the meaning given by paragraph 6(2);\n“group” has the meaning given by paragraph 14 (and references to a group company and membership of a group have a corresponding meaning);\n“non-corporate distribution” has the meaning given by paragraph 2;\n“recipient company” has the meaning given by paragraph 6(3);\n“underlying rate of corporation tax” has the meaning given by paragraph 3.",
  "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/1988/1/schedule/A2/paragraph/18",
    "retrieved_at": "2026-10-29T09:49:54.309394+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."
}