Related HMRC Manuals

371BI(1)  In relation to a chargeable company that is a banking company for the relevant corporation tax accounting period, step 5 in section 371BC(1) is to be taken in accordance with subsections (2) to (5).

371BI(2)  The amount given by paragraph (a) at step 5 is to be increased by an amount equal to–

(PCP − SASA) × SP

where–

“PCP” is P% of the CFCʼs chargeable profits;

“SASA” is so much (if any) of the chargeable companyʼs available surcharge allowance as the company specifies for the purposes of this subsection in its company tax return for the relevant corporation tax accounting period;

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