158 Ancillary international shipping profits
Finance (No 2) Act 2023 (2023 c 30) | Legislation

158  Ancillary international shipping profits

(1)     A member's ancillary international shipping profits for a period are the member's ancillary international shipping revenue for the period, less—

(a)     the member's ancillary international shipping costs for the period, and

(b)     the member's ancillary international shipping profit cap adjustment for the period.

(2)     A member's ancillary international shipping revenue is all revenue earned by the member in consideration for the member's performance of ancillary international shipping activities.

(3)     A member's ancillary international shipping costs are the sum of—

(a)     all costs incurred by the member that are directly attributable to the member's performance of ancillary international shipping activities, and

(b)     all costs incurred by the member that are indirectly attributable to the member's performance of ancillary international shipping activities multiplied by the ancillary international shipping factor.

(4)     The ancillary international shipping factor is the ancillary international shipping revenue divided by all revenue earned by the member from any source.

(5)     An activity is an ancillary international shipping activity if—

(a)     it is of a type referred to in subsection (6), and

(b)

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