Related Commentary  

18B  [Prospectively inserted by FA 2021, s. 7 and Sch. 1, para. 3.]

Prospective amendments

S. 18B inserted by FA 2021, s. 7 and Sch. 1, para. 3, with effect for the financial year 2023 and subsequent financial years (subject to Sch. 1, para. 34(2) and (3)). New s. 18B reads as follows:

“Marginal relief for companies without ring fence profits

18B(1)  This section applies if–

(a)a company is UK resident in an accounting period,

(b)it is not a close investment-holding company in the period,

(c)its augmented profits of the accounting period exceed the lower limit but do not exceed the upper limit, and

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