# Income and Corporation Taxes Act 1988, Paragraph 18

Extent: E+W+S+N.I.

In section 13AB and this Schedule—
“basic profits” means the amount of a company’s profits for an accounting period on which corporation tax finally falls to be borne;
“corresponding accounting period”, in relation to a recipient company, has the meaning given by paragraph 8;
“distributing company” has the meaning given by paragraph 6(1);
“distribution” does not include an amount treated as a dividend under paragraph 2(2) of Schedule 23A (manufactured dividends and interest);
“distribution period” has the meaning given by paragraph 6(1); and
“excess NCDs” has the meaning given by paragraph 6(2);
“group” has the meaning given by paragraph 14 (and references to a group company and membership of a group have a corresponding meaning);
“non-corporate distribution” has the meaning given by paragraph 2;
“recipient company” has the meaning given by paragraph 6(3);
“underlying rate of corporation tax” has the meaning given by paragraph 3.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/A2/paragraph/18 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-A2/paragraph-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.