BKM403100 | Banking surcharge: calculation of surcharge profits: CT surcharge

CTA10/S269DA

The surcharge profits of a company which is a banking company in relation to an accounting period are computed as follows:

• Compute taxable total profits under the normal rules at S4(2)

Add any of the following which have been given in determining those taxable profits:

• non-banking group relief

• non-banking or pre-2016 loss relief

• relevant transferred out gains

Deduct

• non-banking transferred-in gains

• research and development expenditure credits