Corporation Tax Act 2010 section 18C

Marginal relief for companies with ring fence profits

Section 18C directs companies with ring fence profits to the relevant provisions governing how marginal relief applies to their corporation tax.

• Ring fence profits are those arising from oil extraction activities in the UK and UK Continental Shelf.
• Where a company's augmented profits consist exclusively of ring fence profits, the marginal relief rules in section 279B apply.
• Where a company's augmented profits include both ring fence profits and other profits, the marginal relief rules in section 279C apply instead.
• This section acts as a signpost only; the detailed calculation rules are contained in sections 279B and 279C.