194 Total top-up amount for a territory
Finance (No 2) Act 2023 (2023 c 30) | Legislation

194  Total top-up amount for a territory

(1)     Take the following steps to determine the total top-up amount for an accounting period for a territory—

Step 1
Subtract the effective tax rate of the standard members of the group in that territory for that period (as determined in accordance with section 132) from 15%.

Step 2
If the result of Step 1 is nil or less, the total top-up amount for that territory is nil. Otherwise, proceed to Step 3.

Step 3
Subtract the sum of the losses of those members of the group that made a loss for the period (as determined by reference to their adjusted profits) from the sum of the profits of those members of the group that made a profit in that period (as determined by reference to

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