Section 356D | Reduction of adjusted ring fence profits F1
From legislation.gov.uk
17 July 2014
(1)A company's adjusted ring fence profits for an accounting period are to be reduced by the cumulative total amount of activated allowance for the accounting period (but are not to be reduced below zero).F1
(2)In relation to a company and an accounting period, the “cumulative total amount of activated allowance” is—F1
Formula
where—
A is the total of any amounts of activated allowance the company has, for any sites, for the accounting period (see section 356E(2)) or for reference periods within the accounting period (see section 356GB(1)), and
C is any amount carried forward to the period under section 356DA.