Commentary

D7.5144 Relevant profits

Corporate tax
Corporate tax | Commentary

D7.5144 Relevant profits

Corporate tax | Commentary

D7.5144 Relevant profits

The rules in this division apply for accounting periods beginning before 1 January 2013. For accounting periods beginning on or after 1 January 2013 see Division D7.4.

The legislation uses the term 'relevant profits' to describe the amount which falls to be shared between policy holders and shareholders and it is the policy holders' share of the relevant profits that is charged at the lower rate.

The relevant profits of an accounting period for this purpose consist of the sum of:

  1.  

    (a)     the company's BLAGAB profits for the period; plus

  2.  

    (b)     the taxable profits arising on the company's

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