Commentary

D7.5151 Small profits rate and the starting rate of corporation tax

Corporate tax
Corporate tax | Commentary

D7.5151 Small profits rate and the starting rate of corporation tax

Corporate tax | Commentary

D7.5151 Small profits rate and the starting rate of corporation tax

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.

A life insurance company is eligible for the small profits rate1 in respect of the shareholders' share of its profits (D1.1205). In calculating whether the rate applies the policy holders' share of the relevant profits for the accounting period is ignored2. Furthermore, the policy holders' share of any franked investment income arising from investments of the company's long-term insurance fund and referable

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