Corporation Tax Act 2010 section 314

Taxable ring fence profits for an accounting period

Section 314 defines what counts as "taxable ring fence profits" for a given accounting period, which is a key term used elsewhere in the Chapter to calculate unrelieved group ring fence profits.

• Taxable ring fence profits are ring fence profits chargeable to corporation tax for an accounting period
• The calculation is made after deducting any group relief claimed under Part 5
• This definition feeds into the determination of unrelieved group ring fence profits under section 313
• The concept applies on a per-accounting-period basis for each company