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LLM7130 | Double taxation relief: corporate members: Regulations: calculating the foreign tax pool: the amount of the pool

From HM Revenue & Customs · Lloyd's Manual

Where

  • PASFT is the pool of adjusted sums of foreign tax

  • AASFT is the aggregate amount of adjusted sums of foreign tax (the sum of ASFT amounts from different territories)

  • BFA is the amount of pool brought forward from the previous accounting period (see LLM7160).

Then PASFT = AASFT + BFA.

Thus the pool, PASFT, is formed by adding together the amounts of adjusted foreign tax forthe individual territories, as calculated at LLM7120, andadjusting for the amount brought forward.