Commentary

D7.713 Calculation of the bank surcharge

Corporate tax
Corporate tax | Commentary

D7.713 Calculation of the bank surcharge

Corporate tax | Commentary

D7.713 Calculation of the bank surcharge

The surcharge is a straight charge of eight per cent levied on the company's surcharge profits that are in excess of its surcharge allowance1.

Surcharge profits

The surcharge profits are calculated using the formula2:

TTP + NBGR + NBGRCF + NBPLR + NBTILR + RTOG – NBTIG – RDEC

where:

  1.  

         TTP is the taxable total profits of the company of the chargeable accounting period;

  2.  

         NBGR is the amount (if any) of non-banking group relief given in determining those taxable total profits. Non-banking group relief is group relief surrenderable from a company that is a

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