Corporation Tax Act 2010 section 279G

"Augmented profits"

Section 279G defines "augmented profits" for the purposes of determining which rate of corporation tax applies to a company, by combining its adjusted taxable total profits with certain exempt distributions it has received.

• Augmented profits are calculated by adding together a company's adjusted taxable total profits and any qualifying exempt distributions it has received.
• Adjusted taxable total profits are the company's taxable total profits after specific adjustments defined in the legislation.
• Exempt ABGH distributions are particular categories of exempt dividend-type income received by the company.
• Certain exempt ABGH distributions are excluded from the augmented profits calculation where they fall within the exclusions set out in subsection (3).